Sacramento Kings

A Kings ownership stake is reportedly for sale, but seller is a mystery

Kings forward Skal Labissiere (7) fights for control of the ball against the Washington Wizards at the Golden 1 Center in Sacramento on Sunday.
Kings forward Skal Labissiere (7) fights for control of the ball against the Washington Wizards at the Golden 1 Center in Sacramento on Sunday. hamezcua@sacbee.com

A minority owner is selling a 10 percent share in the Sacramento Kings, according to a Bloomberg report.

The name of the investor is unknown, but the size of the stake would likely come with a board seat, the report said. George Postolos, a consultant in the sports industry and former president of the Houston Rockets and Astros, is reportedly representing the seller.

The Kings franchise is valued at $1.075 billion, according to Forbes annual rankings released in February, marking a 16 percent increase over the previous year. A group led by principal owner Vivek Ranadive paid $534 million for the Kings in May 2013.

The seller wants to capitalize on the significant growth in professional sports teams’ values, Bloomberg reported.

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