Updated Feb 22, 2012 - 1:45 pm
Report: Kings to make large contribution to arena deal
NBA commissioner David Stern said Tuesday that the Maloof family, owners of the Sacramento Kings, has agreed to make a substantial contribution to the city's $387 million arena deal to keep the team in Sacramento.
While the terms of the contribution were not disclosed, the NBA and Sacramento Mayor Kevin Johnson have agreed to a 'work plan" in hopes of reaching a deal to finance a new arena by the March 1 deadline. Johnson, a former NBA player, said he plans to meet with commissioner Stern over the NBA's All-Star festivities in Orlando this weekend.
"There is a lot of discussion going on. We're hoping by the March 1 deadline there will be a financing plan that makes sense," commissioner Stern told David Aldridge of TNT Sports.
If an agreement is reached, a term sheet will be announced on March 1 and the Sacramento City Council will vote on the plan on March 6.
Seattle city leaders have expressed their desire to build a new sports arena in the SoDo neighborhood with hopes of obtaining both an NBA and NHL franchise.
The two most accessible franchises for relocation -- the NBA's Kings and NHL's Phoenix Coyotes -- have been rumored as possible targets for the city of Seattle, but both have made an effort to stay in their respective cities as of late.
Follow ESPN Staff, Staff report
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
- Mariners notebook: Rodney ready for a strong start
- John Stearns puts Mariners first and steps down
- Walker plays catch, expects to throw again Friday
- Mariners notebook: McClendon 'anxious' to see Walker
- Mariners notebook: Roster reduced to 55
- 'Cactus League Report' recap and podcast
- More Seattle Mariners »