Arctos Sports Partners has reached an agreement to buy a 17% stake in the Sacramento Kings in a deal that values the NBA franchise at $1.8 billion, according to people familiar with the transaction. It is believed to be the largest private equity investment since the league loosened its rules in January to allow for institutional investors. It is the second NBA deal for Arctos, which was co-founded by private equity veteran Ian Charles and former MSG CEO Doc O’Connor, following a smaller investment into the Golden State Warriors in April.
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