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Sacramento reaches terms on new arena deal. All part of the plan.

Mar 25, 2013, 2:33 PM EDT

Kevin Johnson

In the bid to buy the Kings, the Seattle group — led by Chris Hansen and Microsoft CEO Steve Ballmer — are largely working quietly, behind the scenes to make their case. Outside of setting up a place where fans could show their support by getting on a list to buy season tickets, and releasing renderings of their arena proposal, they have worked behind the scenes.

Sacramento’s process is much more public by design — they want to win public support, plus they have a very heavily involved civic government (mayor Kevin Johnson is helping spearhead the effort).

The latest step is the formal announcement they have an agreement to build a new arena near the city’s downtown plaza area (something we reported on before and we all knew was coming). The Sacramento Bee has the details.

Sacramento officials announced Saturday they have reached a deal for the largest redevelopment project in city history – a $447.7 million arena at the Downtown Plaza, with up to 1.5 million square feet of offices, housing, stores and a high-rise hotel….

It would require the city to commit $258 million in value, or 58 percent of the arena cost. Of that, $212 million would come from selling bonds backed by future revenues from city downtown parking garages. The city’s contribution is the same as it was in last year’s aborted project to build an arena at the downtown.

Tuesday night the Sacramento City Council is expected to sign off on the deal.

A group of NBA owners from the committees considering the sale and relocation of the team are meeting April 3 with the Sacramento and Seattle groups. Both sides will make their case. The Maloof family has an agreement to sell 65 percent of the Kings to the Seattle group, which has an arena in the environmental review stages and would want to move the Kings to Seattle starting next season.

Those committees from the April 3 meetings will report to the full NBA Board of Governors on April 18 and those owners will have to vote up or down on the sale (requiring 2/3 approval, meaning 8 owners can block it) and the relocation (a majority vote allows the move).

But expect this race to be won or lost before that big vote.

  1. tstimler - Mar 25, 2013 at 2:40 PM

    Too late. kings are heading to Seattle.

  2. zhangmaster - Mar 25, 2013 at 3:05 PM

    I’m rooting for you, Kevin Johnson. Please keep David Stern’s league in your city.

    -Sonics fan

  3. MyTeamsAllStink - Mar 25, 2013 at 4:09 PM

    the Maloofs still aren’t selling to a Sacramento based buyer.But hey,you’ll have a venue to host Disney on ice

    • capya - Mar 25, 2013 at 5:09 PM

      YourReasoningStinks – If the Sacramento group can convince 8 owners to block the sale to the Seattle group, then the Sacramento group is the only viable purchaser. The Maloofs can’t afford to keep the team, and they’ll sell to Sacramento.

  4. gls24 - Mar 25, 2013 at 6:52 PM

    The Sacramento term sheet is so replete with “maybe,” “perhaps’ and other wishy-washy terms it would be amazing if the NBA BOG approves this illusory deal. I just wish our mayor would spend as much time dealing with the REAL issues facing our city.

    As I see it, just more corporate welfare for billionaires at the expense of taxpayers.

    And yes, the Maloofs stated they will not sell to Burkle or anyone associated with him.

  5. beavertonsteve - Mar 25, 2013 at 8:12 PM

    Sacramento without the Kings is basically Fresno with a Capitol building.

    I hope they find a way to hold on to them.

  6. mazblast - Mar 25, 2013 at 10:17 PM

    There must be some California state officials, upset because their palms didn’t get greased, who’ll jump in to muck this up. That’s how California rolls.

  7. mashoaf - Mar 26, 2013 at 1:40 AM

    They did have a season ticket wait list site up, but it got overwhelmed and crashed…

  8. liddogg33 - Mar 27, 2013 at 11:19 PM

    “Turn out the lights the party is over”!!! This so called approved proposal is a total SCAM!! Mayor Johnson should really be ASHAMED of this fiasco!! Your disgusting propaganda isn’t fooling anyone!! I appreciate the effort your putting forth but really the whole world sees you grasping at these straws!!! Sacremento your keeping of the Kings is a TOTAL PIPE DREAM!!! For the true dedicated Sac town fans all I can say idiot know how bad it sucks to lose your team (it ALMOST sucks as much as thinking you have a chance to keep them when in all reality there isn’t a shot in hell) good news is golden state isn’t too far away!!!!

  9. allidoiswin55 - Mar 28, 2013 at 4:57 AM

    I agree that publicly the Sac ownership group is gaining steam, however the seattle group is bound by contract to stay out of the media, be quiet and they are beyond traditional business moguls. They are lining up all ducks in a row to get this thing done.

    The seattle group is also in courts and is expected to obtain the additional 7%share making the seattle ownership group have a total of 72% of the team. When that happens they will be moving period, 8 owners seems like a few teams but when you realize that’s nearly 1/4 of all majority owners that number is put into better perspective.

    Major Johnson is doing everything he can except providing the requirements that commissioner stern wants as far as revenue shares and money to the table. He can approve and fight all he wants but if the dollars aren’t right he won’t even get to the vote as stated by Stern previously.

    It won’t matter what stadium plans have been passed when the seattle group walks into this meeting with other nba franchises and shows them how well this move has been planned out, how much it benefits them to move and the money they immediately receive from approving the sale.

    WHEN those owners realize that by essentially vetoing the sale will open a huge can of worms for themselves later when or if they ever choose to sell their own franchise . That is a double standard that business men /women would never ever make.

    SUCKS to steal another team, sorry they went this route but at the end of the day no one will care after 5 or 6 years unless seattle becomes a championship caliber team like the thunder have which is unlikely. Eventually it will be swept under the rug like every other shady business plan. Sorry Sac, your woman are fine as he11 though go soothe your pain their lol!

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