The Seattle SuperSonics could be returning to the NBA, as a Seattle group has purchased an interest in the Sacramento Kings from the Maloof family. (more…)
Tag Archives | maloofs
Next up in Sacramento arena quest: term sheet
Though there is broad agreement over funding of a new Sacramento Kings (NBA) arena, the tires will hit the road when a formal term sheet — with specific figures — is released. That release is scheduled for tomorrow. It should be interesting: the biggest chunk of arena financing, the sale of future downtown-parking revenues, is […]
Sacramento, Kings reach tentative arena deal
Sacramento officials and the owners of the Sacramento Kings (NBA) have reached a tentative deal on financing for a new arena in the city’s downtown area. The deal, still subject to final approval once the city’s part of the funding package is determined, calls for larger-than-planned contributions by the Maloofs, owners of the Kings, and […]
Sacramento arena plan: still a work in progress
A funding plan for a new Sacramento Kings (NBA) arena is still in negotiations, with Commissioner David Stern giving mixed signals about how much support he expects from the Kings. Really, there’s little new on the arena front since the last time we reported on the Sacramento arena situation: the city is still negotiating with […]
How realistic is Sacramento arena plan?
As more details emerge about a proposed Sacramento arena plan, it appear the city may ask more of the NBA’s Kings and take some facility revenue streams. Is this realistic? Though the financial cornerstone of the $387-million (or $400 million, depending on who you ask) funding plan is the sale of future downtown parking revenues […]
Sacramento to discuss parking leases with 11 suitors
Sacramento will negotiate a potential lease of parking spaces with 11 suitors — with the proceeds being a cornerstone of a funding plan for a new Sacramento Kings (NBA) arena. The city is under the gun to show the NBA and the Kings a viable arena-financing plan before a March 1 deadline. A key part […]
Kings’ arena quest coming down to the wire
An attempt to keep the Sacramento Kings (NBA) in town is coming down to the wire, as a $400-million financing plan is due at the end of the month. Mayor Kevin Johnson has been leading the push for a funding plan, which is still not finalized. A key part of the plan calls for the […]
Kings to share financials for arena research
The NBA’s Sacramento Kings will share financial data with a city-commissioned group seeking to put together a financing plan for a new arena, another piece of the puzzle in the funding formula. ICON Venue Group and a local developer are working on an arena financing plan, and one big chunk of the equation will be […]
Kings to stay in Sacramento for ’11-’12
The Sacramento Kings are staying in Sacramento and Power Balance Pavilion for at least one more season, as David Stern and other NBA officials persuaded the Maloofs to give the city until March 1, 2012, to come up with a new-arena plan. The decision was made over the weekend and announced today, just before a […]
Maloofs’ decision on Kings due today
A decision on the fate of the Sacramento Kings is due today, and given how the Internet has changed the world to give people plenty of advanced information, it’s amazing there’s no clue as to whether the Maloofs will choose to move the team to Anaheim or stay in Sacramento. Apparently a decision has been […]
Is Sacramento arena deal already crumbling?
Sacramento leaders unveiled the outlines of a new-arena plan for the Sacramento Kings, but upon closer scrutiny it’s not clear whether there’s enough financial support in the area for a facility, with three neighboring counties unlikely to participate. When a Joint Powers Authority for a new arena was announced last week, it theoretically included six […]
