Anaheim Approves $75 Million Bond Deal to Lure Kings

by March 30, 2011

Signs are everywhere that the Kings are headed to Anaheim — even on game tickets in Sacramento (ouch) — and here’s the latest, via the AP: “The Anaheim City Council unanimously approved a $75 million bond deal Tuesday night to entice the Sacramento Kings to relocate to Orange County. The City Council twice voted 5-0 for the measures to a round of applause from its packed City Hall meeting room, calling it another major step in luring the Kings to Honda Center. ‘Anaheim took a giant step closer to bringing an NBA team to Anaheim and the Honda Center,’ Anaheim Mayor Tom Tait said. ‘I’m thrilled. Actually, a better word is stoked.’ Tait repeatedly emphasized the city is borrowing no money and has no financial risk in the deal. According to every Anaheim official in the meeting, the city is acting as a conduit for a private investment by Henry Samueli, the billionaire owner of the NHL’s Anaheim Ducks.”