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.

Here is the Downtown Plaza, with Arena

Live from a Sacramento Office Building

Advertisements


Categories: Sacramento Kings Relocation Saga

Sports Thoughts

Predictions and reactions to your favorite sports

FootballFemme

A Site For All Things Fantasy Football

Basketball Greatness

Home of Basketball News and Updates

Blogging With Andy

Sports, Iowa & More

Dome and Bedlam

Baseball somethings from baseball nobodies

Sports with Neil and Friends

MAKE HAWT TAEKS HAWT AGAIN

Year of the Teen

A teen's humorous pursuit of self betterment

The Big Lead

MAKE HAWT TAEKS HAWT AGAIN

Dubsism

What your view of sports and life would be if you had too many concussions

stadium nerd

A fine WordPress.com site

%d bloggers like this: