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Ranadive becomes maiden U.S. Indian to own NBA team
By siliconindia
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Wednesday, 24 November 2010, 07:56 IST
New York: Vivek Ranadive, the CEO and Founder of TIBCO, has become the first Indian American to own a NBA team as he manages to be one of the three largest stakeholders in San Francisco's Golden State Warriors basketball team and will serve as vice chairman of the team, reports indiatelevision.com.
The Palo Alto-based software magnet is part of the GSW Sports LLC, a group of six board members and multiple investors, led by Joe Lacob and Peter Guber, who has bought the team following an undisputed approval from the NBA's Board of Governors.
Though never able to play basketball, Ranadive, the Mumbai based CEO has been following Warriors and became a Warriors fan and coached his daughter's basketball team to a National Championship quite a few years ago . Joe Lacob is the largest stake holder and will be the primary decision-maker as Co-Executive Chairman/CEO/Governor of the Warriors. Gruber will be the Co-Executive Chairman/Alternate Governor of the team.
Ranadive hopes to get Warriors win the World Championship title -- something the team hasn't been able to achieve since 1975.