Last week, Fox 40 TV in Sacramento reported they had sensitive details on a new arena proposal to keep the Kings in town. On Friday, the Sacramento Bee reported that two members of the original management group that brought the Kings from Kansas City have been leading the charge.

However, yesterday the Maloofs in a statement said those latest efforts at a Sacramento sports-entertainment complex are not suitable.

“A representative of the Maloofs listened to their plan in depth, but they do not have the financing in place and a renovation of the existing structure is not an adequate solution.”

Anaheim City Council will resume discussions on whether to issue $75 million in bonds that would fund construction on improvements to the Honda Center and cover relocation costs this Tuesday, March 29th.

Maloofs Statement courtesy of the Sac Bee.