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NBA in Seattle

The latest news about the NBA's possible return to Seattle.

March 23, 2013 at 4:37 PM

Sacramento announces framework for an arena deal

Two days later than initially planned, Sacramento mayor Kevin Johnson today announced that the city has agreed  on a deal with a private investment group for a new arena designed to keep the Kings from relocating to Seattle.

According to Tweets from several Sacramento news outlets, the total cost of the arena is $448 million with $190 million in private investment and $258 million from the city, largely from land and parking as well as a ticket surcharge.

The same group is also putting together a bid to buy the Kings from the current owners, the Maloof family, with Sacramento news outlets estimating the total expense of the team and arena at $1 billion.

The arena deal will be voted on by the Sacramento City Council Tuesday, with one news outlet Tweeting that it is expected to pass easily:

More details as they come.

Comments | More in Kings | Topics: Sacramento arena

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