Qualcomm CEO Paul Jacobs has been named in group of investors vying to purchase the Sacramento Kings.
Jacobs is part of a potential ownership group along with Silicon Valley software tycoon Vivek Ranadive, 24 Hour Fitness founder Mark Mastrov and billionaire investor Ron Burkle.
Sacramento Mayor Kevin Johnson will make a presentation to NBA owners in New York on Wednesday to keep the Kings from leaving California's capital city.
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In his plea, he’ll present the Jacobs-Burkle-Mastrov-Ranadive group as ready to buy the team.
He’ll also pitch a newly-approved arena financing plan.
Kings owners Joe and Gavin Maloof backed out of a handshake deal -- which NBA Commissioner David Stern had negotiated, and the Sacramento City Council approved – putting the fate of the Kings and its hometown up in the air yet again.
Johnson’s goal is to block a bid by investor Chris Hansen and Microsoft CEO Steve Ballmer, who have a pending deal with the Maloofs to buy the Kings, move the team to Seattle and restore the SuperSonics name.
A joint committee of league owners, assembled from the sale and relocation committees, will make a recommendation for the full NBA Board of Governors to consider when it votes at its annual meeting April 18-19 in New York.