Sacramento, CA (Sports Network) - The Kings are staying in Sacramento after
The city of Sacramento, the Kings and the NBA announced a tentative deal
Monday to finance a new arena for the club. Sacramento's city council will
vote on the plan March 6.
In the proposal, the city will contribute $200-$250 million of the estimated
$367 million arena, with arena operator AEG and the owners picking up the
The announcement comes less than a year after Sacramento mayor Kevin Johnson
-- a former NBA All-Star -- lobbied for more time to propose a new arena plan
after the Maloof family, the club's majority owners since 1999, had been
considering a move to Anaheim's Honda Center because of financial issues in
the city and with the building now known as Power Balance Pavilion.
The arena, if approved by Sacramento's city council, would open for the
2015-16 season in the downtown rail yards,
"This is a great day for Sacramento, a great day for the Maloof family, a
great day for the NBA," Joe Maloof said. "I'd like to thank the mayor for all
of his hard work and efforts throughout the years and, of course, the
commissioner for all of his support and everything he's done for the NBA. Our
family is just so excited that we have the framework for a deal. We've always
said we wanted to stay in Sacramento and now here's our opportunity."
The Kings have played in Sacramento since 1985, after relocating from Kansas
City, and have played in the building formerly known as Arco Arena since the
A move to Anaheim would have marked the fifth different city for the
franchise, which first played as the Rochester Royals from 1948-57. The club
then moved to Cincinnati before heading to Kansas City and changing its name
to the Kings in 1972.
The Kings have not made the playoffs since the 2005-06 campaign and currently
sit in the basement in the Pacific Division with an 11-22 record.
"[We wanted to help] cement the future of the NBA in Sacramento. With the
leadership of the mayor and the leadership of the Maloof family, I think this
preliminary framework that we have is going to do just that," NBA commissioner
David Stern said.
The Sports Network