SACRAMENTO, Calif. (KCRA) —Mayor Kevin Johnson announced during his State of the City address on Thursday that Mark Mastrov and Ron Burkle will be the equity investors in a proposal to buy the Kings and keep them in Sacramento.
Johnson said Mastrov will propose to buy the franchise, while Burkle will work on building an arena in downtown Sacramento.
According to Forbes Burkle’s net worth is $3.1 billion. Mastrov is the founder of 24 Hour Fitness along with many other fitness businesses worldwide who has a net worth of $350 million.
Mastrov will put in a “competitive” bid to buy the Kings to the NBA on Friday, according to Johnson.
For more on this story visit: Mike TeSelle, KCRA
Sports Talk Florida broke the story first here: Mayor Johnson In Control Of Kings