Money Trouble Could Spell the End of Sacramento’s Kings

by February 10, 2009

by Marcel Mutoni

Not too long ago, they were one of the L’s most popular teams, and seemed on the cusp of greatness. And now, they might be gone from Sac-town.

According to the Sacramento Bee, due to mounting financial losses, the Kings might not be long for their current city. Something, of course, ownership strongly denies:

Though he refused to cite a figure, sources close to the team estimate the franchise could lose up to $25 million this season, making it seem more likely that the Maloofs would be receptive to offers from officials in other markets – with more profitable arenas – who are interested in acquiring an NBA franchise. One league executive identified representatives from Anaheim and San Jose as particularly aggressive suitors.

“We’ve been approached constantly since we bought the team, and we’re still here,” [Joe Maloof] said. “We’ve never wavered. We’ve always kept our word. We didn’t try one (failed arena deal) and split. Our goal and objective is to get something done here. We know where we’re at – we’re at rock bottom – and we’ve got to turn everything around. And we will. Let’s see what Cal Expo comes up with. But we’ll look at anything.”

As the article points out, not only are the Kings the single worst team in the L (translation: fewer cowbells), but they dwell in a tiny market, and their gym is an absolute relic.

The Anaheim Kings has a certain charm to it, no? Vlade Divac must be rolling over in his grave.