Here's Your Chance to Join Shaq as Part-Owner of NBA's Kings
- NBA team’s investor said selling a 10 percent stake in club
- Kings were valued at $1.1 billion before sale of Rockets, Nets
Frank Mason III of the Sacramento Kings shoots the ball against the Washington Wizards at Golden 1 Center in Sacramento, California, on Oct. 29, 2017.
Photographer: Rocky Widner/NBAE via Getty Images
A minority owner of the Sacramento Kings is selling a 10 percent stake in the franchise, seeking to capitalize on the mushrooming values of professional sports teams, according to people familiar with the seller and his thinking.
In its annual ranking, Forbes in February valued the team at $1.1 billion, 15th in the 30-team National Basketball Association. Since then, the Houston Rockets sold for $2.2 billion, about 33 percent greater than the Forbes valuation. A stake sale in the Brooklyn Nets valued the team at $2.3 billion, 28 percent more than the Forbes estimate.