Mar 30, 2011, 2:01 AM EDT
The Maloof brothers now have done pretty much everything but drive the moving trucks up to the Kings offices.
Tuesday night one of the final hurdles in the path of the Kings relocating to Anaheim was cleared when the Anaheim City Council unanimously approved a lease for an NBA tenant in the Honda Center and to issue $75 million in bonds. That money will be repaid by the increased revenue from an NBA team in Anaheim, the Associated Press reported.
That team would be the Kings. While the NBA owners still need to approve it — and despite the protestations of the Lakers and Clippers — there is little now standing between the Kings and the move. The only way this falls apart is a vote by the owners saying the Kings have to pay a steep relocation fee to the Lakers and Clippers. But don’t bet on it.
The bonds are backed by three companies of Henry Samueli — owner of the NHL’s Anaheim Ducks and the guy who operates the Honda Center. Anaheim city officials were insistent that Orange County taxpayers could not be on the hook for the money. About $25 million will go to facility upgrades (better locker rooms and a practice court), about $50 million to help pay for relocation costs. Or pay part of the roughly $77 million they still owe the city of Sacramento from a previous loan.
The Kings have until April 18 to file relocation papers with the league. The owners will get together a couple of days in April to vote on the move. But all that seems more and more like a formality at this point.
- PBT Extra: Previewing Heat/Spurs NBA Finals Game 7 3
- Utah Jazz bring back Jerry Sloan as team consultant 4
- Celtics, Clippers restart Doc Rivers-Kevin Garnett trades talks at Chris Paul’s wish 9
- Chris Bosh to fans who left Game 6 early: ‘Don’t come back for Game 7′ 37
- Wade says left knee sore, swollen, but will play through it 16
- NBA Finals Game 6: Heat comeback in fourth, win in overtime to force Game 7 (125)
- If Spurs win, it is LeBron’s legacy that will take biggest hit (85)
- Lakers unlikely to sign and trade Dwight Howard to the Clippers, Rockets, or anyone else (81)
- Chris Bosh blocks Spurs’ Game 6 comeback attempt (video) (80)
- Heat’s Big Three dominate Game 4 to even the Finals at two games apiece (74)
- Blackhawks win OT thriller
- PFT: Report: Hernandez accused of prior shooting
- CSN: Report: Hernandez 'not ruled out' as suspect
- PBT: Celts, Clips restart Doc, KG trade talks
- Posnanski: How Heat won a game of mistakes
- GTC: Tiger pulls out of AT&T citing elbow issue
- HBT: Biogenesis suspensions still likely coming
- Play Video: Bosh: 'We'll see who hits first'
- Play Video: Clippers, Celtics discussions 'can't be wrong'
- Play Video: Elliot looks ahead to Game 6
- Play Video: The Hype: How much would you pay to punch someone?
- Play Video: If Heat lose, 'all hell will break loose'
- Play Video: Green breaks NBA finals 3-point record