Kings sale: Vivek Ranadivé buys Bob Cook's 7 percent stake

USA TODAY Sports

Vivek Ranadivé matched Chris Hansen's $15.1 million bid for Bob Cook's stake in the Kings, adding to his controlling interest in the team.

Vivek Ranadivé purchased Bob Cook's seven percent stake in the Sacramento Kings, according to the Sacramento Bee (via NBC Sports' Aaron Bruski), after officially acquiring a 65 percent controlling interest in the team from the Maloof Family earlier on Friday.

For more on this story, head over to SacTown Royalty.

Chris Hansen, who headed up a group of Seattle investors' efforts to buy the team, bid $15.1 million for Cook's minority share of the Kings in March. After conflicting reports about whether or not Sacramento-based minority owners would exercise their right to match Hansen's bid surfaced in the following weeks, Ranadivé added additional security for the city of Sacramento by snatching up the stake.

Ranadivé paid in excess $534 million, an NBA record, for his stake in the team and its home, Sleep Train Arena.

Ranadivé previously co-owned the Golden State Warriors before purchasing the Kings.

More from SB Nation:

LeBron 2.0: How James dominated all facets of Game 5

LeBron returns to "Cleveland days" | Ziller: Suspend Birdman

Rudy Gay trade columns continue to haunt the internet

Twitter dating: Quincy Pondexter asks out Miss Tennessee

NBA mock draft 2013: Going away from the consensus | SB Nation's Big Board

X
Log In Sign Up

forgot?
Log In Sign Up

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

By becoming a registered user, you are also agreeing to our Terms and confirming that you have read our Privacy Policy.

Join SBNation.com

You must be a member of SBNation.com to participate.

We have our own Community Guidelines at SBNation.com. You should read them.

Join SBNation.com

You must be a member of SBNation.com to participate.

We have our own Community Guidelines at SBNation.com. You should read them.

Spinner.vc97ec6e

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.