Deal announced for new arena for Sacramento Kings
Sacramento, CA (Sports Network) – The city and county of Sacramento announced
a deal Thursday to finance a new arena for the Kings.
The Sacramento Bee reports the package would rely on voter approval of a new
quarter-cent sales tax, which would produce nearly $1.2 billion over a 15-year
A vote is expected August 2 by the Sacramento County Board of Supervisors
whether the package will be put on the ballot.
The Bee reports the new arena, which would be built in the downtown rail yard,
would cost between $470 million and $542 million.
The Kings have played at the permanent ARCO Arena facility since the 1988-89
season. The team hosted an NBA-leading 497 consecutive sellouts from the
1985-86 to 1997-98 seasons.