In an apparent effort to add more financial heft to their bid for the Sacramento Kings, Mark Mastrov and Ron Burkle today brought a third major partner onto their team: Vivek Ranadive, chairman and chief executive of a $1 billion-a-year Silicon Valley software company.

Ranadive is also a limited partner and vice chairman of the Golden State Warriors - the team Mastrov tried to buy in 2010.

A source close to the arena effort, but who is not authorized to speak on the record, said Ranadive has been talking with Mastrov for several months about joining Mastrov's bid to buy the Kings.
Ranadive's emergence came as city officials were laboring to complete a term sheet containing the elements of a deal with Mastrov and Burkle for a new arena in Downtown Plaza.

Ranadive is jumping in nearly two weeks after NBA Commissioner David Stern said the Mastrov-Burkle initial offer for the Kings was too low. He said it was considerably less than the reported $341 million the Maloof family has accepted from investors who want to move the Kings to Seattle.
After Stern's announcement, Mastrov vowed to "win the bid" but has declined to say if he would put up more money. The offer has been forwarded by the NBA - as a "back-up offer" - to the Maloof family. A spokesman for the Maloofs declined comment on the offer.

The India-born Ranadive, 55, is chairman and chief executive of TIBCO Software, a $1 billion-a-year company in Palo Alto. He controls about 8 percent of the publicly traded company, putting his holdings at $318 million. It's unclear what his total net worth is.

Read more here: http://blogs.sacbee.com/city-beat/2013/03/new-investor-emerges-in-bid-for-kings.html#storylink=cpy