&quot;It&#39;s going to be exciting,&quot; he told the USA Today after securing an agreement to buy 65 percent of the Kings from the Maloof family for a National Basketball Association (NBA) league-record valuation of $535 million. &quot;We&#39;re going to build a global brand with the Kings. We&#39;re going to give the fans the product that they deserve,&quot; the minority owner of Golden State Warriors said on achieving his longtime goal. The development came just a day after NBA owners officially rejected a bid by the Maloofs, who have owned the team since 1998, to relocate the Kings from Sacramento, California, to Seattle, Washington. &quot;It&#39;s a little bittersweet, obviously because I&#39;m a huge Warriors fan and I have a lot of friends here,&quot; Ranadive told USA Today Sports. &quot;I&#39;m very, very excited to start the new (challenge).&quot; Ranadive, who left India as a 17-year-old to attend MIT and later founded his $4 billion company in Silicon Valley, Tibco, has the sort of competitiveness and deep pockets that could lead one of the league&#39;s most poorly run franchises back to respectability, the USA Today said. NBA Commissioner David Stern has made a concerted effort of late to grow the game in Ranadive&#39;s native India, where &quot;basketball is but a blip on their sporting radar,&quot; the newspaper said. &quot;I&#39;m going to do what I do in my business, which is surround myself with people that are way smarter than me,&quot; Ranadive said. &quot;But I am a huge fan. I&#39;m going to be there at all the games, be there to support the team in every way.&quot; &quot;It&#39;s one step at a time,&quot; Ranadive said. &quot;I&#39;m one of these guys who doesn&#39;t like to get ahead of the game. &quot;We still have a lot of work to do. I&#39;ve learned a lot, but there&#39;s a lot more to learn. And it&#39;s going to be a process. It&#39;s not going to be an overnight miracle there, so it&#39;s going to take some work,&quot; he was quoted as saying. u00a0

Indian American software magnate Vivek Ranadive, who has become the first person of Indian descent to become the owner of a major US basketball team, plans to build the Sacramento Kings into a global brand.

Indian American Vivek Ranadive buys US basketball team

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Indian American Vivek Ranadive buys US basketball team

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