Vivek Ranadive Of Sacramento Kings Bidding To Buy Team Ottawa Team For $1Billion

SACRAMENTO, CA – The NBA’s Sacramento Kings owner Vivek Ranadive is among seven finalists bidding to buy the Ottawa Senators. Among others, he will be competing for the NHL franchise with Canadian actor Ryan Reynolds of The Remington Group.

Sports outlets reported that Ranadive traveled to Ottawa on April 12 to see the team’s home grounds and discuss a deal that seems might exceed $1 billion, the highest amount ever paid for an NHL franchise. The Sacramento Bee said a sale condition is that the team not be moved out of Ottawa.  

The team came up for sale after owner Eugene Melnyk passed away in March 2022. Final bids are due May 15.

Ranadive bought the Sacramento Kings for $534 million, a record for an NBA team sale at the time, and is now pegged, according to reports, to be worth more than $2 billion. He also holds stake in the Sacramento River Cats minor league baseball team.