Ranadive and Obama have developed a relationship since he purchased the Kings in 2013. He accompanied Obama on a trip to India in 2015 to be part of the nation's Republic Day.
"I saw this opportunity to be a part of history," Ranadive wrote in a post for Fortune.com. "As a boy from Mumbai who came to Boston as a teenager with $50 in his pocket, I owe everything to America. To visit the country of my birth with President Obama was a privilege and an honor I simply could not refuse."