Vivek Ranadive Rumors
There is a financial component hear that is coming into play as well, as Karl is known to be owed approximately $10 million on his contract. A move with that large of a price tag means the team’s minority owners would have to be involved in the decision, as it would potentially require a capital call from investors beyond Kings majority owner Vivek Ranadive. Yet despite an ESPN.com report on Monday night indicating that a decision had been made, those discussions had not taken place. By the next morning, Divac was telling the basketball world that Karl would not be fired. Not yet, anyways.
Sources said Ranadive, who took ownership of the Kings in May 2013, has left the decision whether to fire Karl or keep him in place fully with Divac. The owner twice bucked NBA convention by hiring a coach — first Mike Malone, then Karl — before hiring his GM.
Kings minority owners have quietly explored ways to seize controlling interest from Ranadive, sources told The Vertical, but on this there is little recourse. Owning an NBA team has become almost bulletproof, with an owner-friendly CBA redirecting the money and billions in television revenue set to flow into the league’s coffers in the coming year. Ranadive’s mismanagement has set the rebuilding Kings back years, but that alone won’t be enough for anyone to remove him.