Another day passed Friday without the release of details of an arena financing plan in Sacramento.
It had been initially thought the term sheet would be released by Thursday, but as detailed in the blog posts below, that didn’t happen. There had been rumblings it would then be released today. But that also didn’t happen (though the city release conceptual drawings of a new arena).
Despite not having a financing plan, however, the city held a public forum tonight on issues related to the arena. At that meeting, city manager John Shirey indicated the term sheet could be released on Saturday:
Much smaller crowd at tonight’s city forum on the Kings/arena..Shirey hopes to have the term sheet ready tomorrow..more at 10, as we say..
— Jim Crandell (@JimCrandell) March 23, 2013
The city needs to have the term sheet ready in time for the next Sacramento City Council meeting on Tuesday. The city wants to have an arena plan approved to take back to New York when representatives of both of the groups in Seattle and Sacramento grappling over the fate of the Kings will meet before NBA owners on April 3.
That meeting is considered likely to be a critical step in the process, with some theorizing that it will go a long way toward helping the NBA make its decision. The final decision, though, won’t come until the full Board of Governors meets in New York on April 18-19.