Sacramento arena may not be a done dealon March 29, 2012 @ 6:04 pm (Updated: 9:26 am - 3/30/12 )
Things aren't always as they seem, however, as the Los Angeles Times reports the owners of the Kings, Joe, Gavin and George Maloof, may not be as thrilled about committing to participating in the new entertainment and sports complex in the city.
Sacramento officials are working to address the questions and the concerns of the Maloofs, many of which involve the continued and possibly growing expense of building the new complex, like environmental requirements, legal expenses, and other costs.
Documents reviewed by the LA Times reveal that the owners aren't firm on the agreement that would keep the Kings in Sacramento.
When 710 ESPN's Kevin Calabro Show asked Seattle arena investor Chris Hansen if he'd been following the speculation surrounding the fate of the Kings, or of other teams that may be on the fence for financing, he brushed it off.
Hansen said he's not hoping for other franchises to fail, but he wants Seattle to be ready when the opportunity to bring an NBA team back to the city presents itself.
"My job is just to get an arena deal in Seattle and for us to just be standing there and ready when the next opportunity comes."
The arena panel could issue its recommendations for the Seattle facility as early as April 4, the next time it's scheduled to meet.
Hansen proposed $290 million in private investment toward the construction of a new arena that would cost between $450 and $500 million. Hansen's group would also be responsible for the purchase of an NBA franchise and finding a partner interested in bringing an NHL franchise to Seattle.
The public financing component of the proposal would be capped at $200 million. Hansen has said he wouldn't be the owner of the NHL franchise.
Hansen's plans represent the first steps toward solving the arena problem that was behind the decision to move the SuperSonics to Oklahoma City following the 2007-2008 NBA season after 41 years in Seattle.
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