The new majority owner of the Sacramento Kings has been nominated Street & Smith's Sports Business Awards "Sports Executive of the Year."

Vivek Ranadive joins a list of five up for the award.

Established in 2008 by SportsBusiness Journal and SportsBusiness Daily, the rewards celebrate and recognize leaders for excellence and outstanding achievement in the business of sports.

In a statement, Ranadive said "It is truly an honor to be recognized among such esteemed peers. I want to thank the Kings fans, as none of our success would be possible without their unrivaled passion and support."

Ranadive is joined by Gary Bettman of the NHL, Randy Freer of Fox Sports, Don Garber of Major League Soccer and Kevin Plank of Under Armour.

A winner will be announced May 21.