Los Angeles Times BY ANTONIO GONZALEZ | THE ASSOCIATED PRESS ADVERTISING Building a new arena for the Sacramento Kings has never been closer to reality. The city, the Sacramento Kings and the NBA announced a tentative deal Monday to finance
BY ANTONIO GONZALEZ | THE ASSOCIATED PRESS
Building a new arena for the Sacramento Kings has never been closer to reality.
The city, the Sacramento Kings and the NBA announced a tentative deal Monday to finance a new arena that would keep the team in California’s capital for the long haul. The City Council will vote on the plan March 6.
Sacramento Mayor Kevin Johnson, NBA Commissioner David Stern and the Maloof family, which owns the Kings, emerged from three days of talks in Orlando, Fla., — where they had been negotiating during All-Star weekend — to announce that the framework of a deal had been reached, giving fans some 3,000 miles away in the Central Valley reason to cheer for a comeback story that fittingly came straight out of Fantasyland.
“I think when we left Sacramento and came to Orlando, you guys asked me how close were we. I thought it was a free throw — and you need to make two free throws,” Johnson told reporters at a news conference at the Waldorf Astoria at Walt Disney World. “I think the city made the first free throw, and the Maloof family made the second free throw.
“It’s game over.”
Well, almost.
Under the proposed terms of the deal, the city will contribute $200-$250 million to the estimated $387 million arena, mostly by leasing out parking garages around the facility, a person with knowledge of the negotiations said. The person, speaking on condition of anonymity because the full financing plan will not be made public until at least Thursday, said Sacramento also will create revenue through a ticket surcharge.
The Maloofs have agreed to contribute $75 million in upfront cash, which includes the sale of land around the team’s current suburban arena, along with paying off a current $67 million loan to the city and contributing more over the course of the deal. Arena operator AEG also agreed to pay almost $60 million.
“I think it’s great for our community,” a tearful Gavin Maloof said. “I’m glad it’s finally coming to an end after 13 years. It’s been a long road.”
The Kings almost moved to Anaheim, Calif., a year ago before Johnson and city leaders convinced the league to give Sacramento one last chance to help finance an arena. At one point, Johnson — a former NBA All-Star with the Phoenix Suns — even called the process a “slow death” and likened the city’s efforts to a “Hail Mary.”
BRYANT TO SEE DOCTOR ABOUT BROKEN NOSE
LOS ANGELES — Anybody wondering if Kobe Bryant will play Wednesday against Minnesota?
You’ll have to wait a bit.
Bryant will see an ear, nose and throat specialist today, a Los Angeles Lakers spokesman said.
He sustained a broken nose Sunday during the All-Star game, apparently when he absorbed a hard foul from Miami guard Dwyane Wade in the third quarter of the Western Conference’s 152-149 victory in Orlando, Fla.
Bryant briefly left the court between free-throw attempts so a trainer could examine the nose. He continued to play but did not talk to reporters afterward. Bryant rarely misses games, but he was said to be experiencing headaches after the All-Star game.
He returned to Los Angeles on Monday.
Los Angeles Times
