Joe Lacob leaped out of his courtside seat as the final shot arched toward the basket. As it swished through for a Golden State victory, the venture capitalist and Warriors owner danced onto the court.
The sale of the Sacramento Kings to a group led by Tibco Software Inc. founder Vivek Ranadive was completed for a National Basketball Association-record $534 million, ending the 14-year ownership of the Maloof family.
The much-traveled Sacramento Kings should remain in that city rather than move to Seattle in a sale headed by Valiant Capital Management founder Chris Hansen, the National Basketball Association’s relocation committee said.
National Basketball Association Commissioner David Stern and a group of suitors assembled by Sacramento Mayor Kevin Johnson will try to persuade the Maloof family to complete a sale of the Kings within the next few days.
Tibco Software Inc.’s head of U.S. sales, Robin Gilthorpe, has departed amid a reorganization at the maker of products for running corporate data centers, according to people with knowledge of the matter.