Tuesday , Feb , 28 , 2012 Hoopsvibe

Kings and city of Sacramento agree on arena deal

The city of Sacramento and the Kings announced a tentative deal today to build a new arena in the downtown railyard. More than half the money would come from leasing the city’s parking to a private operator, but the team’s owners say they’ve also agreed to pay $75 million upfront.

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HoopsVibe’s Very Quick Call: Good for Sacramento fans.

Today, the city of Sacramento and the Kings announced they had reached a deal on financing a new arena, ending any chance the team would move to Anaheim or Seattle.

Good for Kings-nation. A decade ago, Sacramento was a basketball-mad market, with a highly competitive team and intense fans.

In fact, other teams, specifically Phil Jackson and the Lakers, mocked the Kings for the cowbells and hooky building.

Bottom line: the Kings are staying. They can plan for the future, focus on winning, and get back to being a great franchise.

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