Stories
Stories
A Whole New Game
According to research compiled by the Federal Reserve, cities, not suburbs, are now the leading generators of US economic growth. From 2010 to 2016, urban populations grew faster than those in the suburbs, reversing a nearly 70-year-old trend. And sports teams are a growing force in that migration. After leading a group of investors to purchase the Sacramento Kings in 2013, Vivek Ranadivé (MBA 1983) partnered with local government in California’s capital to open a new arena and 1-million-square-foot mixed-use development in the heart of the city’s downtown.
“Four years ago, this place was dead,” Ranadive told The New York Times. “You could have thrown a bowling ball, and it wouldn’t have hit a soul.” In the last year, the Times reports, 27 new stores have opened in the area, with nearly two dozen more set to open in 2018.
Ranadivé’s efforts mirror an ongoing trend; San Francisco Giants President and CEO Larry Baer (MBA 1985) is spearheading plans to build a $1.6 billion mixed-use development on a waterfront parcel just south of the team’s AT&T Park, also located in downtown.
A former vice-chair and co-owner of the Golden State Warriers, Ranadivé emigrated from Mumbai to the United States at the age of 16 with $50 in his pocket, eventually founding TIBCO software. “Four years ago, I said no other city is going to steal our team,” he said. “The Kings are the heart and soul of the city.”
Post a Comment
Related Stories
-
- 25 Aug 2022
- HBS Alumni Bulletin
Up on the Corner
Re: Nadine Dlodlo (MBA 2008); Calvin Young (MBA 2015); Rawi E. Abdelal (Herbert F. Johnson Professor of International Management Emma Bloomberg Co-chair, Bloomberg Harvard City Leadership Initiative); By: Alexander Gelfand; photographed by Melissa Golden -
- 15 Mar 2022
- Making A Difference
History’s Future
Re: Amr Al Madani (PLDA 18) -
- 07 Sep 2021
- HBS Alumni Bulletin
Growing Home
Re: Yoshi Hori (MBA 1991); By: Dan Morrell -
- 27 May 2021
- HBS Alumni News
History’s Future
Re: Amr Al Madani (PLDA 18)
Stories Featuring Vivek Ranadive
-
- 03 Oct 2019
- New York Times
Aiming for the Playoffs—and a Wider Audience
Re: Vivek Ranadive (MBA 1983) -
- 01 Dec 2000
- HBS Alumni Bulletin
Vivek Ranadivé
Re: Vivek Ranadive (MBA 1983); By: Julia Hanna