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Sacramento's bid to keep Kings includes new arena

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10:01 AM ET 03.24 | The city of Sacramento Saturday unveiled a key piece of its efforts to keep the Kings from relocating to Seattle, announcing it has reached an agreement on a $447 million deal to build a new arena. "There is much work to be done, but this was a very important piece," said Sacramento city manager John Shirey in an upbeat news conference announcing the deal Saturday night. The deal struck with a private investment group that would also run the Kings must be approved by the Sacramento City Council on Tuesday, but initial reports indicate that is expected to happen. Sacramento mayor Kevin Johnson announced the deal in a series of tweets Saturday afternoon. Johnson, a 12-year NBA veteran, has led the city's efforts to keep the Kings since it was announced in January that the team had been sold by the current owners, the Maloof family, to a group from Seattle led by Chris Hansen. That sale, however, must be approved by the NBA Board of Governors when it meets in New York April 18-19.

Seattle Times

Kevin Johnson, Rocky Widner/NBAE via Getty Images Kevin Johnson, Rocky Widner/NBAE via Getty Images
March 24, 2013  10:18 AM ET

They need to move on. Trying to keep the Kings in Sacramento is a losing proposition. Besides what other professional sports teams are there in that city? I can't think of any.

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March 24, 2013  11:00 AM ET

Should be interesting to see what happens. Seattle is the better (larger market) city to sustain the franchise, and given their history with the Sonics, should have no problems. But Sacramento did well in supporting their team, in spite of how bad the Maloofs were in running the organization.

Some type of a dust-up on the horizon ..

Comment #4 has been removed
March 24, 2013  11:22 AM ET
QUOTE(#4):

KJ is doing his best to keep the team but they'll lose the team to Seattle. They're just slowing down the move for now. I don't get that all of a sudden the city will now approve the building of a new arena. Didn't they approve it before already? This is just a stalling tactic just like before.

Yeah, I think the turning point was the Maloofs selling the team. Sac did try earlier with the new arena, but Maloofs would not go for it. When the Seattle group showed up and offered them $500mil+, they finally decided to let go. Which then opened the door for other offers, which the league (Stern) could not turn away.

I agree that Seattle has the inside trick with their larger market. Sac fans have had strong enough attendance over the years (good and bad) to keep the team. But I think you're right, that ultimately the owners will approve the sale to Seattle, although not without some heat from Sac fans.

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March 24, 2013  12:51 PM ET

"...the economic impact is overrated."

+++:
http://news.illinois.edu/news/04/1117stadiums.html
http://www.washington.edu/alumni/columns/june97/game1.html

March 24, 2013  01:10 PM ET

Whose KJ flashing the bone at?

March 24, 2013  06:32 PM ET
QUOTE(#3):

Should be interesting to see what happens. Seattle is the better (larger market) city to sustain the franchise, and given their history with the Sonics, should have no problems. But Sacramento did well in supporting their team, in spite of how bad the Maloofs were in running the organization.Some type of a dust-up on the horizon ..

If you look at the published attendance figures, it doesn't appear as though the fans care. They are last in attendance. That doesn't tell me they support the team.

Comment #11 has been removed
March 24, 2013  10:51 PM ET
QUOTE(#1):

They need to move on. Trying to keep the Kings in Sacramento is a losing proposition. Besides what other professional sports teams are there in that city? I can't think of any.

Because there are no other professional teams is not a viable reason for the Kings to move. The people of Sacramento have earned and deserve to keep the Kings if they so choose. If not for the bungling of current owners during their term of stewardship this team would never have been on the market. The Maloofs have squandered a fortune that was developed by their father and their attempt to finance their irresponsible lifestyle by squeezing the life out of this team is reprehensible. Time for the Maloofs to move on, that is certain...but for the citizens of Sacramento who have continued to show up night after night in support of "their team", the Kings are right at home.

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March 24, 2013  11:18 PM ET
QUOTE(#10):

If you look at the published attendance figures, it doesn't appear as though the fans care. They are last in attendance. That doesn't tell me they support the team.

The Kings over the last 13 years have averaged 20th in attendance. Prior to 2007 season they were consistently at number 12 or 13 but if you recall in 2006 the Maloofs tried to get a new stadium financed by the citizens of Sacramento without putting any money in themselves. That is the first time that the Maloofs threatened to move the franchise out of town...they burned a great deal of trust within the community at that point and the decline of attendance is directly reflected. No more Maloofs and the team will more than likely regain some of it's lost footing in attendance figures.

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