I am watching TV and they just broke in with the news that a framework of a deal has been met for a new arena in Sacramento. Mayor Kevin Johnson is talking right now. It looks like the Maloofs will be putting in about $70 million dollars. A large majority of the money is coming from privatizing parking.
Kings should be staying in Sacramento, and I am happy we are getting a shiny new arena. The city council still needs to vote and approve it, but that shouldn't be a concern from what I've heard.
Sacramento, Kings have reached deal on new arena
By Ryan Lillis
Published: Monday, Feb. 27, 2012 - 10:36 am
The city and the Kings have reached the framework of a deal to build an arena and keep the Kings in Sacramento. Team co-owner Gavin Maloof came out of negotiations in tears to announce that the team has made a long-term commitment to Sacramento. More to follow.