The Kings and city of Sacramento announced on Monday they've agreed to a tentative "framework of a deal" to build a new NBA arena keeping the team in Sacramento.

The Maloof family, owners of the Kings, have reportedly agreed to contribute $150 million for the new arena. Co-owner Gavin Maloof said the family is putting in "close to $75 million upfront" and the other $75 million will come partially from surcharges on tickets to be made over the course of the agreement.

"It's a great day for Sacramento," co-owner Joe Maloof said Monday.

Sacramento Mayor Kevin Johnson met with NBA commissioner David Stern and other executives during All-Star festivities in Orlando over the weekend. The city and NBA had a self-imposed March 1 deadline to come to an agreement on a deal.

The Sacramento City Council will vote on a proposed funding plan involving city parking facilities on March 6. The parking proposal is expected to contribute $200 million to the proposed $387 million arena.

If a majority vote is reached, the new arena would open in time for the 2015-2016 season in the downtown Sacramento rail yards.

Despite attempts by Seattle and Anaheim to lure the Kings to their respective cities, the fate of the franchise is in the hands of the Sacramento City Council -- which has approved every arena measure to date under the current project.

The Associated Press contributed to this report.

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Comments (14)


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  • wcremedy24 wrote...
    Wow
    February 27, 2012 10:33 am
    Amazing what you can accomplish when you have a competent local government, the support of the NBA, and an owner who wants to keep the team in town as opposed to someone working "like a man possessed" to move them. Screw the NBA for catering to Sacremento and turning their back on us.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • messiah101 wrote...
    wcremedy24
    February 27, 2012 11:35 am
    A competent local government does not give the city parking revenue away for 50 years for a lousy $200 Million.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • itiswhatitis wrote...
    The city govt wasn't all happy about this
    February 27, 2012 11:43 am
    I was passing through Sacramento when they were debating this issue. They had their fair share of detractors who said the Kings were nice to have but not a necessity. Obviously, the threat of another city swooping in and taking their team was enough to help them get their deal done. They at least made the deal they needed to do. That there are still city council and legistative people still in Seattle & Olympia who let this happen is also a shame.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Newton wrote...
    Let the NBA go some where else.
    February 27, 2012 11:26 am
    Seattle does not need another loser team like the Mariners. With the Tax payers flipping the bill for a first class stadium and a garbage bag team. No tax payer money should ever be spent on any sports teams stadium. Look at your property Taxes if these stadiums made money for the tax payer they should be going down. They are not because the money goes to the owners of the team and the tax payers get screwed.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Burn_Notice wrote...
    Local SportsTalk Radio...must be in heaven as they...
    February 27, 2012 11:28 am
    love to talk about the same topic all 15 programming hours a day. So the whole new NBA/NHL team possibility is like a weather reporter with a prognosis of a possible snow storm... Just dang giddy!

    So I, for one, am glad the Kings got their deal "tentatively" worked out. This will keep them busy over at KJR and 710 ESPN tickled pink with random conspiracy theories and infinite possible ways to abscond with another city's team. God knows we don't have enough sports misery with the Mariners and their perpetual rebuilding year(s).

    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • messiah101 wrote...
    I'm happy for Sacramento BUT
    February 27, 2012 11:32 am
    Giving up 50 years of parking revenue for a stadium that will be ready to be torn down in 30 years seems to be way to high a price to pay. Seems like the NEEDS of the 1%rule in Sac Town
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • artimus wrote...
    I'll never forget Greg Nickels, Thomas Carr, Sally Clark, and Richard Conlin
    February 27, 2012 11:38 am
    yucking it up at City Hall while the shipped the Supes out of town. Seattle got bent over by a bunch of hayseeds from OKC. Rankles me just to think of it.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • tmbull wrote...
    agree w/ @artimus
    February 27, 2012 11:49 am
    but I'd add David Stern to that group he never lobbied to keep the Sonics here and turned a blind eye while the Okies promised (wink wink) to keep the team here
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • dori monson fan wrote...
    nba schmim ba
    February 27, 2012 11:50 am
    we have enough crappy teams in town. send them all packing except for the hawks. mariners are nothing more than a farm team for the yankees at seattle taxpayer's expense.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • HPD 5-0 wrote...
    Yeah, that's the reason taxes are so high. It has nothing to do w/ 30 yr of Dimocratic rule.
    February 27, 2012 1:09 pm
    "Look at your property Taxes if these stadiums made money for the tax payer they should be going down. They are not because the money goes to the owners of the team and the tax payers get screwed."
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • CH wrote...
    And the reason the Country is in the toilet had nothing to do with . . . .
    February 27, 2012 2:17 pm
    'W'
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • HPD 5-0 wrote...
    I agree. You're finally seeing the truth.
    February 27, 2012 2:39 pm
    ....It's Owebama's fault!
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • fartforce1 wrote...
    I am glad - for one reason.
    February 27, 2012 3:37 pm
    That the cost would have been sent to the tax payers instead of the patrons, the team and its membership should be responsible for its own business costs, not the people unless, like green-bay, the community of tax payers owns the team.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • soo purletiv wrote...
    I can only imagine ticket prices
    February 27, 2012 3:56 pm
    With all of the 'revenue' options: A fee here, an increase in tax there, as well as the insane 'wages' that the players make and continue to make......

    If this deal ever gets done, Sacramento fans will be paying $150.00 a ticket just to get in the door, and then they will have to pay another fee for a seat, as well as be required to buy a minimum of 2 beverages and a snack per person.

    Who is going to actually go to these games, especially if they aren't winning?

    Only one way I see this working in the future: Expand the already ridiculous NBA playoff tree to include THE WHOLE LEAGUE ;-)

    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • { "Thumbs Up":"1","Thumbs Down":"-1" }








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