Qualcomm CEO joins Sacramento bid to keep Kings

SACRAMENTO, Calif. — Add another investor to the group Sacramento Mayor Kevin Johnson is assembling to keep the Kings from moving to Seattle.

Johnson announced Monday night that Paul Jacobs, CEO of the international technology company Qualcomm, has agreed to become part of the Sacramento bid. Jacobs joins a group that includes billionaire investor Ron Burkle, 24 Hour Fitness founder Mark Mastrov and TIBCO Software CEO Vivek Ranadive.

“A true Dream Team! This Fab Four is a bracket buster,” Johnson wrote on Twitter.

Sacramento city officials reached a preliminary agreement Saturday with the investment group for a new $447 million downtown arena. The city plans to contribute $258 million to the $447 million project, mostly by leasing out parking assets and donating land.

The City Council is planning to vote on the non-binding term sheet Tuesday night.

Sacramento is hoping to block a bid by a group that has a pending purchase agreement to buy the Kings from the Maloof family and move the team to Seattle. The NBA Board of Governors is expected to make a decision by the end of its April 18-19 meetings.

The Seattle group, led by investor Chris Hansen, has had a signed deal since January to buy 65 percent of the franchise for $341 million from the Maloofs. Other investors include Microsoft Chief Executive Steve Ballmer and two members of the Nordstrom department store family.

Hansen reached agreements with local governments in Seattle last October on plans to build a $490 million NBA/NHL arena near the city’s other stadiums, CenturyLink Field and Safeco Field. No construction will begin until all environmental reviews are completed and a team has been secured.

More in Sports

Snohomish’s 1970 basketball team headlines Hall of Fame class

Those Panthers will be inducted into the Snohomish County Sports Hall of Fame on Wednesday.

Cascade’s Kolomiyets tops Jackson’s Vimawala in tennis showdown

The Bruins’ star beat his Timberwolves counterpart in straight sets in a matchup of the region’s best.

NCAA coaches among 10 charged with fraud and corruption

The coaches, now in custody, work at Oklahoma State, Auburn University, Arizona and USC.

Poll: Help us plan this week’s high school football coverage

This week The Herald covers HS football at Glacier Peak/Monroe, and Jackson/Lake… Continue reading

UW receiver McClatcher likely out for season

Federal Way product broke his ankle during the Huskies’ win over Colorado.

Carroll: Seahawks at forefront of ‘extraordinary’ times

The Seattle coach spoke on what his players believe is their duty as pro athletes with a platform.

Monday’s prep results and links

Here are Monday’s prep results and links: BOYS TENNIS Wesco 4A Kamiak… Continue reading

Granite Falls volleyball building from grassroots level

The Granite Falls volleyball team has won a combined 11 matches over… Continue reading

Multi-sport athletes fueling Mountlake Terrace cross country

Mountlake Terrace cross country coach Todd Weber said he believes both of… Continue reading

Most Read