Blog Entry

Reports: Sacramento, Kings agree to 'framework'

Posted on: February 27, 2012 2:02 pm
Edited on: February 27, 2012 2:24 pm
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Looks like they were right. They are staying. (Getty Images)
Posted by Ben Golliver 

The Kings have taken a significant step towards remaining in Sacramento for the foreseeable future, with team and city agreeing to the "framework" of a stadium financing proposal, according to multiple reports.

SI.com and NBA.com reported that Sacramento Mayor Kevin Johnson and the Maloof family, who owns the Kings, told reporters in Orlando that stadium funding is on track.

"It's game over, so our community should be really excited," Johnson said, according to SI.com. "I want to jump up and down."

Johnson added, according to NBA.com: "I’m very excited. It’s a new day for Sacramento. We’ve all been working around the clock to get to this point."
   
Negotiations that involved the NBA league office, the City of Sacramento and the Maloofs took place throughout All-Star Weekend.

During his annual All-Star Weekend address on Saturday, NBA commissioner David Stern said that a deal was close but that money still separated the two sides and that "several remaining [deal] points" need to be hammered out.

"Life is a negotiation," Stern said on Saturday. ""The City would like the Maloofs to make the largest ‑‑ both have come up with very substantial contributions.  It's really getting there.  It's just not there yet.  And we're looking for other ways, imaginative ways, to bridge the gap ... It's coming down to money after all of this?  Yeah."

SI.com reports that the Maloof family will put up $73 million towards the $387 million expected price tag and an additional $60 million could follow in future years.

SacTownRoyalty.com reports the next steps in the arena funding process include a City Council vote and approval of a plan to create stadium funding from parking structures.

The Maloofs attempted to relocate to Anaheim last season but the NBA actively encouraged the family to reconsider and give Sacramento another year. Johnson has been pushing hard to keep the Kings throughout the process. The city of Seattle has also been interested in landing a team.
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Comments

Since: Jun 25, 2009
Posted on: February 28, 2012 7:52 am
 

Reports: Sacramento, Kings agree to 'framework'

From a NBA fan's perspective the sight lines at Arco aren't that bad.  The reason why Arco is outdated is because of the luxury suites.  Most NBA teams make their money on suites where you can collect $50,000 per game in some cases.  I'm not a Kings fan (go Lakers) and only go their twice a year when the Lakers are in town.  The arena is a ghost town when big market teams aren't there.  I'm glad the Kings are staying; keeps the NBA in the Nor Cal Valley and I don't have to go Oakland all the time to see NBA ball.  However, there's one thing Kings fans better get ready for; SOMEBODY IS GOING TO BE PAYING FOR THIS ARENA.  It's going to be the fans.  Get ready to start spending $85 per ticket instead of $25 like you have been paying.  Say good-bye to those triple play fan-nights where you get three top tier teams for $100.  Ask the Warrior fans how much their ticket prices went up when their arena was upgraded.  Even their parking went up and it's the same parking lot!



Since: Oct 23, 2006
Posted on: February 27, 2012 11:21 pm
 

Reports: Sacramento, Kings agree to 'framework'

How can ARCO Arena be so bad/outdated/etc. when it's built in what? 1985?
The Pistons play in the Palace (built in 1988) and it's still a beautiful building,
has been getting top notch concerts and athletics since day one.  

Granted - the crowds suck now for the Pistons - but the arena is beautiful.

How can ARCO be in such need of replacement?



Since: Dec 25, 2006
Posted on: February 27, 2012 8:43 pm
 

Reports: Sacramento, Kings agree to 'framework'

The Kings have been in Sacramento since 1985-86. In that time they have sold out for what amounts to 19 seasons. And the team hasnt been very good for most of that time. Its only until the Maloofs stopped spending money on the team the last few years that people stopped going to games. The fans here arent dumb. when you intentionaly put a poor product on the floor they fans stop coming.

As for the arena, its in nad shape. The locker rooms are in bad shape and the orgnaizations like the NCAA have told the city they will stop scheduling events like the mens basketball ncaa regionals due to the sub par facilities here.

As for the breakdown of the spending on the new arena I'd ask that you educate yourself on the particulars before you purt an an opinion in writting. I've left a link for you if you care to get the correct information on the funding plan? .

In additon a new arena to be based in the downtown area, as opposed to the current arena in the north end of town in what is basically a residential area, will be a boom for the hotels and restaurants in the area. Just look at the affect on the economies for cities like Indianapolis, Denver, Baltimore, etc. Granted the Kings are only there 41 games a year but for about 150-200 other days a year concerts and other events will be there. Events that have been routinely skipping here because the acoustics at Powere Balance are awful. All of which generates revenue.



Since: Nov 3, 2009
Posted on: February 27, 2012 6:07 pm
 

Reports: Sacramento, Kings agree to 'framework'

Karma? What bad karma does Seattle have? Wasn't OKC the town that tried to steal the Hornets and DID steal the Sonics? Wouldn't OKC have the bad karma in your scenario?



Since: Oct 24, 2010
Posted on: February 27, 2012 5:26 pm
 

Reports: Sacramento, Kings agree to 'framework'

Kiss my @$$, cmax. And your "5 year rule."


Wonder who Seattle will try to steal a team from next? Aint karma a bitch! 



Since: Mar 16, 2008
Posted on: February 27, 2012 5:21 pm
 

Reports: Sacramento, Kings agree to 'framework'

Kevin Johnson and the City of Sacramento are absolutely stupid in this matter. Sacramento has far worse issues to worry about then keeping one of the worst teams in the NBA in the city. Sacramento Kings fans have always been bandwagon fans and that is why the arena is only 60%-75% full every night unless a big money market team is in town. The Kings are garbage and have been for the last 6 years. They are right back where they were pre Divac and Webber. 

This idea that they are going to charge non city residents more money to park in their parking garages is absolutely stupid. Kevin Johnson has had 1 goal in mind in his entire reign as Mayor of Sacramento and that is "New Arena for the Kings." No wonder Sacramento is turning into a joke of a capitol city. City parks, roads, schools, etc need maintenance and funding. The City Council's main focus is on a very sub par sports team. I went to a Kings game for my Aunt's birthday over a month ago and there is nothing wrong with PowerBalance (ARCO) Arena besides the fact the KINGS play inside of it.



Since: Feb 24, 2010
Posted on: February 27, 2012 3:52 pm
 

Reports: Sacramento, Kings agree to 'framework'

Ummm...Seattle sports versus Oklahoma sports...I'd definitely roll with Seattle sports.  There should be a rule that you have to be in existence over five years before you are allowed to talk junk, OKC.



Since: Dec 25, 2006
Posted on: February 27, 2012 3:41 pm
 

Reports: Sacramento, Kings agree to 'framework'

Just think that at the end of last  season everyone here in Sacramento thought the team was gone. The announcers were teary eyed as they signed off from their season ending broadcast.


Next step is getting the City Council to sign off on it!!!



Since: Aug 16, 2006
Posted on: February 27, 2012 3:33 pm
 

Reports: Sacramento, Kings agree to 'framework'

I told all those Seattle fans they weren't getting a new team. Why they ever doubted me I do not know. No point now in even going thru with that arena deal they had in place.



Since: Jan 1, 2012
Posted on: February 27, 2012 3:21 pm
 

Reports: Sacramento, Kings agree to 'framework'

Congrats to Sacramento for keeping the Kings. Now how about the Kings returning the favor and building a team worth watching.


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