Sacramento Group Finalizes Arena Bid to Keep Kings in Town

March 23rd, 2013 by Grant Hughes Leave a reply »
With a new investor involved and a whole lot of money on the table, it looks like there's a real chance the Sacramento Kings could be staying put after all.

According to Sam Amick of USA Today:

The group of investors hoping to buy the Kings and keep them from being moved to Seattle have agreed on a deal with the city of Sacramento for a new bid that will be submitted to the NBA at an April 3 meeting in New York.

With software developer and Golden State Warriors minority owner Vivek Ranadive joining the duo of Mark Mastrov and Ron Burkle, Amick reports that the trio's total investment, which would include the purchase of the Kings and the construction of a downtown Sacramento arena, is close to $1 billion.

Sacramento Mayor Kevin Johnson, who has been on something of a crusade to keep the Kings in town, announced the news via his Twitter account:



The former player has fought tooth and nail against all efforts to move the Kings out of Sacramento, which makes this latest development something of a personal victory.



Johnson may not want to celebrate just yet, though.

The Maloof family ...

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