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SPORTS: Swimwear entrepreneur sees global potential in Kings
Raj Bhathal, the founder of Orange County's largest swimwear maker, will acquire a "significant" stake in the Sacramento Kings when its $535 million sale closes in coming weeks.
The new ownership group, headed by Silicon Valley software executive Vivek Ranadive, is set to acquire a 65% controlling interest in the NBA team from co-owners Joe and Gavin Maloof, both of whom once flirted with the idea of bringing the struggling franchise to Anaheim.
It's a sweet turn for Bhathal, a die-hard sports fan who made a run at the New Orleans Hornets a year ago, only to be outbid by Tom Benson, owner of the NFL's New Orleans Saints. Benson acquired the Hornets for $338 million.
"Leading" Sport?
"We believe that basketball will be the leading American sport of the 21st century," said Bhathal. "The games are high-scoring, fast-paced, and entertaining live, on television, and relevant in new media."
Bhathal will serve as alternate governor, representing the Kings at league meetings with Vivek.
He'll also chair the team's international committee.
"Basketball is global, multicultural and talent...