Basketball

The owner of the Sacramento Kings wants to buy Milan

The worlds of the NBA and European soccer seem destined to cross paths again. That would be the case if indeed Vivek Ranadivé, current owner of the Sacramento Kings, entered the Milan.

The Rossoneri club will go from the bottom Elliot a RedBird, represented by Jerry Cardinal. The agreement was signed but the closing 1.2 billion is expected by September 2022. That is why Cardinale is looking for investors ready to join him in this very onerous operation. In recent weeks he has met with several entrepreneurs in the United States and has reportedly found a backing in Ranadivè itself. The Indian had already expressed his interest in soccer in the past months, making an offer to buy the Chelsea, left by Russian Roman Abramovich after the outbreak of war in Ukraine. The deal had failed but now Ranadivè wants to try again and is ready to place himself in the Italian market.

The Indian tycoon has amassed a substantial fortune by marketing precision software. To wit, he was the one who digitized Wall Street in 1997, making sure that information arrived in real time.

In the field of sports, he first invested in the Golden State Warriors, which he became co-owner of in 2010 before giving up his shares in order to buy the Sacramento Kings. In 2013 the franchise was worth $500 million, now four times as much. Ranadivè, in short, is a guarantee of success financially and investment in growing teams, as evidenced by the $1 billion spent on the Sacramento arena. So far in the NBA he has not reaped results, but who knows that with Milan he may not take satisfaction from the sports point of view as well. His entry into the venture is very likely but it is not yet clear under what terms and especially with what kind of investment. The liquidity that he would have to inject, however, would fill a very important function in order to successfully conclude the transition of the Rossoneri club from Elliot to RedBird.

Read more :   Have Devin Booker and Kendall Jenners gotten back together?