The Sacramento Kings are trying to buy the Sacramento River Cats? It makes a lot of sense
Some may be surprised by the expected announcement the owners of the Sacramento Kings are buying the Sacramento River Cats, but they really shouldn’t be.
The deal, which has been in the works for several months, makes sense for Sacramento’s NBA team, its Triple-A minor league baseball team and both ownership groups.
For the River Cats group led by the Savage family, selling their family business to a local owner with deep pockets is a good deal, especially because their franchise has seen decreasing attendance since the entire 2020 minor league baseball season was lost to COVID-19.
Conversely, a move to bring the River Cats under the control of the Kings’ owners could create synergy in marketing and advertising between the two organizations.
This deal would also signal that despite the criticism endured by the Kings’ basketball operations for years of consecutive losing seasons, the franchise led by Vivek Ranadive continues to make big investments in the region. After purchasing the team, his group has invested heavily in Golden 1 Center, the Kimpton Sawyer Hotel and Downtown Commons.
Sources have confirmed the two parties have had discussions since the end of last year and the deal is almost done. They have confirmed the purchase price is in the neighborhood of $100 million and that the Kings owners, along with some additional investors, are involved in bidding on the River Cats.
Neither ownership group will comment on the deal until it is formally approved by Major League Baseball and a local governmental joint powers authority charged with the financing of Sutter Health Park, home of the River Cats. But sources close to the Kings and the River Cats with knowledge of the deal confirmed a basic outline of the deal and the motivations behind it.
Kings imprint grows
When it is consummated, the footprint of the Kings in Sacramento’s urban core would be considerable.
The Kings’ downtown headquarters are a short drive from Sutter Health Park, on the West Sacramento side of the Sacramento River. The area is all part of one urban core near Old Sacramento and the downtown Railyards, places the Sacramento region has deposited a great deal of investment and hope for the future.
In this context, a Kings-River Cats merger of sort makes even more sense.
But the deal will also mark the end of an era.
In just over 20 years, the Savage family made the River Cats a local institution — first by providing the financial investment that saw the River Cats open for business in 2000, then as an affiliate of the Oakland A’s.
How sports change community
This was the dream of the late Art Savage and his wife Susan Savage.
Together, the Savages created the best minor league baseball experience in America by providing fans with gorgeous summer evenings of family entertainment in the shadow of the gleaming Tower Bridge. The Savages teamed with Warren Smith and Bob Hemond, entrepreneurs who had been trying to bring Triple-A baseball to Sacramento.
The results were like a dream come true until Art Savage died of lung cancer in 2009.
The Savages’ son Jeff stepped in, even if operating the team wasn’t necessarily his dream, and he has been running the show with his mom ever since.
Despite a lack of success on the court, the Kings have created a terrific fan experience at Golden 1 Center.
Under Ranadive, the Kings responded responsibly and compassionately to intense protests after Stephon Clark was killed by Sacramento Police in 2018. When Ranadive took the mic at center court in Golden 1 Center, surrounded by Kings players in the turbulent days after Clark was killed, he spoke eloquently in expressing his condolences to the Clark family and the broader Sacramento community.
Triple-A baseball is all about community, and the job of minor league baseball owners is to focus on marketing, advertising, community development and fan experiences. Player personnel on the River Cats would continue to be run by the San Francisco Giants, the parent club of the River Cats since 2014.
According to sources, Major League Baseball is reviewing the proposed deal. So is the Joint Powers Authority, consisting of West Sacramento, Yolo County and Sacramento County, which approved the $39.99 million in taxable lease revenue bonds used to finance the River Cats stadium in 1999.
If this deal goes through, the Savages should be remembered for creating a beautiful amenity in the Sacramento region. River Cats games became a summer ritual for families and baseball fans. The Savages became respected members of the Sacramento business community.
Hopefully, their dream of a Triple-A team in the Sacramento area flourishes under new ownership.
This story was originally published July 26, 2022 at 12:08 PM.
