Sacramento City Council Approved New Arena Deal for Kings

by March 27, 2013

Sac-Town mayor Kevin Johnson continues to push forward in his quest to keep the Kings in town. KJ helped wrangle a 7-2 vote out of the city council in favor of a new $448 million arena. Per the Sac Bee: “After more than three hours of impassioned pleas and debate, the council agreed late Tuesday to a nonbinding term sheet on a $448 million arena at Downtown Plaza. The city would contribute $258 million, most of it by borrowing against future revenue generated by downtown parking meters and garages. It was the second time in a little more than a year that the council voted to build a new arena for the Kings. But while Tuesday night’s vote brought a standing ovation and chants of “Sacramento!” from the Kings fans who packed council chambers for the vote, there was also a sobering realization that the Kings’ fate has yet to be decided. The arena proposal โ€“ along with a bid to buy the team itself โ€“ will be presented in New York on April 3 to a select committee of NBA owners, who will weigh Sacramento’s plan alongside a competing offer from Seattle. All the owners will meet April 18 to vote on whether the team should stay or go. ‘We’re not jumping the gun yet. We know this is the next step we need to take,’ said Kings fan Troy Bedal, who showed up nearly an hour before the meeting to make sure he got a seat. ‘We’re not getting ahead of ourselves.'”