The New York Daily News reports that Vivek Ranadive hopes to build the Kings into a global brand.
Ranidive dipped his toes into the NBA a few seasons ago when he became a minority owner of the Golden State Warriors.
He won 65 percent stake in the Kings after the NBA owners approved his bid over one by current King owners to move the franchise to Seattle.
“It’s a little bittersweet, obviously because I’m a huge Warriors fan and I have a lot of friends here,” Ranadive told USA Today Sports. “I’m very, very excited to start the new (challenge).”