Sacramento Has A Term Sheet, Now We Wait

But wait! There’s more!

And more…

and more…

and more…

In case you couldn’t figure it out, this is a pretty huge deal for Sacramento. Kevin Johnson and the City have stepped up again to come up with a major public subsidy to keep the Kings in Sacramento. Unlike last time though, this new arena deal in Sacramento will include  a sizable investment from the private parties involved (that would be the triple whale of Burkle, Mastrov, and Ranadive).  Or in other words, this deal is going to be way better for the City of Sacramento then the one they had agreed to with the Maloofs.

Basically it sounds like Sacramento will again be contributing $258 million and the Whales will be throwing in $190 million plus pre-development cost. The fact that this is also at the Downtown Plaza site (right in the middle of downtown) is one of the biggest reasons the City is willing to throw a large amount of money into this building. The city Council is expected to approve this deal.

This is really the last piece to fall into place before the NBA Board of Governors meets on April, 18th.

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