Group Proposes Kings Buyout, New Arena?
In a stunning new twist on the Sacramento Kings saga, a group including the new owner of Downtown Plaza is proposing to buy the team and build a $400 million arena on the site of the troubled shopping center.
A source connected to the proposal said the group believes it would make a viable alternative to the Maloof family’s potential sale of the team to a consortium planning to relocate the Kings to Seattle.
A source said the group includes other deep-pockets investors who have the ability to pull the deal together.
“We make the case to the NBA that we’ve got the funding,” said the source, who insisted on anonymity.