Monday, February 27th, 2012 at 3:31 pm  |  24 responses

Kings, Sacramento Reach Tentative Arena Deal

The city of Sacramento’s efforts to build a new arena for the Kings have been well documented, and at times the situation has appeared gloomy. But today, team co-owner Gavin Maloof announced the Kings have reached a tentative deal with the city that will keep the team in Sacramento long-term with a new arena to be built. The Sacramento Bee has the details: “Team co-owner Gavin Maloof came out of negotiations in tears to announce that the team has made a long-term commitment to the capital. George Maloof said Monday morning that his family would put in ‘close to $75 million upfront, probably another $75 million over the term of the agreement. We got something worked out, tentative. We’re all very excited about it. We were skeptical about whether or not something could happen.’ Asked about the family’s ability to afford such a deal, he said, ‘We can finance that.’ He said that in this morning’s negotiations, ‘We kind of bridged the gap of where we needed to be.’ George Maloof said the $75 million in additional payments, to be made over the course of the deal, will come partially from surcharges on arena tickets. He said the rest will come ‘definitely from us.’ Sacramento Mayor Kevin Johnson’s initial description of the agreement differed from the Maloofs, in that he said the family would contribute $70 million to the project. He also said the team has made a long-term commitment to Sacramento. ’It’s game over,’ he said. The NBA will contribute to the project, but that contribution is not clear yet. ’(The owners) have authorized me to be as supportive as we could possibly be in this process so we could cement the future of the NBA in Sacramento,’ league commissioner David Stern said. Joe Maloof expressed satisfaction that the owners and the city were able to agree. ’I'm excited; (I’m) sure the fans are excited,’ he said. ‘We aways said we wanted to stay. It worked out.’”

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  • http://slamonline.com LakeShow

    Congrats to the city of Sac-Town and their wonderful fans. Albert looks like you get a little more Kings in your life!

  • http://dodgers.com Joey E.

    I lived in Sacramento for a year in 1999-2000. Even though I’m a Laker fan and they hate me, I’m so happy for them. They REALLY love the Kings up there. more than you can see on TV. congrats Sacramento. lets hope DeMarcus becomes a star. love that dude

  • http://slamonline.com nbk

    Now that this is out of the way, will someone talk about getting his depressing team to the most depressing city in the world? Seattle >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> Charlotte

  • http://slamonline.com nbk

    someone talk to *Jordan*

  • TeeD

    It sure is depressing that Seattle probably won’t get another team anytime soon (or maybe ever).

  • SikhWitIt

    Fk David Stern. Seatown needs a team!

  • http://www.nba.com Red

    Wanted Seattle back

  • doyouwantmore

    It’s a good day. :)

  • http://www.pisforprops.com jarrett

    Seattle can’t get a team because Washington legislatures won’t pay for it.

  • http://caseyvaughn.com AlbertBarr

    @Lakeshow: Yes, yes I do!

  • http://caseyvaughn.com AlbertBarr

    In all seriousness, this is one of the most amazing things I ever ever witnessed. All odds were stacked against Sacramento and we fought back a seemingly insurmountable obstacle. Kevin Johnson has just guaranteed reelection for a few cycles. SO EXCITED!!!!!!!!!!!

  • http://caseyvaughn.com AlbertBarr

    And I do not care how much the tickets will cost…I will be at the first game ever played in that arena. That being said, there is still work to be done to make sure this happens. Remain vigilant Sacramento, we still need to get this thing voted on and approved by the city and county! #Herewebuilt

  • http://sportsillustrated.cnn.com/vault/article/magazine/MAG1122425/index.htm nbk

    I believe they actually revisited that topic pretty recently and are willing to spend more then they were before…… losing a team altogether will do that to a City.

  • Hart26

    Great story. Congrats to Sacramento. Move New Orleans to Seattle!!!

  • LA Huey

    Good to hear. I do hope we get the Hornets franchise up here in Seattle though.

  • http://www.nba.com VanCityBBall

    im super happy for SAC TOWN but weirdly at the same time i still want Seattle to get their stamp on the NBA letter…. again

  • http://www.alllooksame.com Tarzan Cooper

    Fukk albert and sac! Vote against it. Kansas city should get the kings back. It can still happen. Right?! Fuuuuuuuuuuaaaarrrkkkk.

  • http://www.alllooksame.com Tarzan Cooper

    And fukk seattle tOo

  • Small Market Sucker

    Thank God, nobody deserves a team more than SacTown fans!

  • http://www.nba.com Red

    Kansas City? LMFAOOOO other than Google & Tech N9ne what does Kansas City have? Sacramento sucks but Seattle is cool.

  • majic


  • http://www.slamonline.com aman from arkansas

    Since they got that out the way PLEASE change the logo and jersey.

  • Sactownking


  • http://caseyvaughn.com AlbertBarr

    @Aman from Arkansas: I can get behind that. And to everyone who says Sacramento suck: GTFOH. It may not be the city that San Francisco or NY is or even Seattle but Sacramento is better than nice. THe mid-town DOwntown area is really young and interesting right now and once that arena is built I think it will galvanize the downtown area. Don’t believe me? Go to the Tower district and eat at the Tower Cafe for Breakfast…best damn food ever. That alone makes the city awesome. That and I grew up there of course.