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In an exclusive interview, current Warriors co-owner Vivek Ranadive explains why he wants to sell his share in the team and buy the Sacramento Kings.
As the Warriors compete in the second round of the NBA playoffs, now may not seem like the best time to think about selling his stake, but that's what he's doing.
Ranadive wants to buy another California NBA team, the Sacramento Kings.
It's Ranadive's software that powers everything from e-tickets to FedEx shipments.
"Every now and then you get the opportunity to participate in something that's bigger than yourself," said Ranadive, CEO and founder of TIBCO in Palo Alto. "The state of California means everything to me and I felt that if I could be a part of keeping the Kings in Sacramento, that was something I needed to do."
As tough as it may be to sell his portion of the Warriors, it makes good business sense to Ranadive.
"I believe that the value has gone up dramatically," Ranadive said. "We sold more season tickets in the last few months than had ever been sold by anyone. I have no doubt there will be a lot of people wanting to buy that stake."
Last week the NBA voted against the Kings moving to Seattle. Later this month, the league is expected to approve the sale of the Kings to Ranadive and he will keep it in Sacramento.
It isn't a done deal yet though, a competing group of investors increased their bid for the King's to $625 million.
You can watch the full report at the video player on the top of this page.