April 8, 2013 at 1:39 PM
Sacramento Bee reports Burkle leaves potential ownership group
Billionaire Ron Burkle, part of the group trying to keep the Kings in Sacramento, won’t take an ownership stake in the team but instead will focus exclusively on building a new arena there, the Sacramento Bee reported today.
Following a meeting last week with a committee of NBA team owners, Burkle decided not to buy into the team, The Bee reported, adding that some NBA executives had expressed concern that Burkle faced a potential conflict of interest.
He is part owner of a company that manages pro athletes’ careers, including several NBA players. The potential ownership group would be controlled by Vivek Ranadive, Mark Mastrov and the Jacobs family of San Diego, who are competing with a group headed by Chris Hansen that is trying to move to team to Seattle.