Sacramento city council approves arena
SACRAMENTO, Calif. (AP) — With the clock clicking down, Sacramento city officials took their last shot at keeping the NBA Kings in California’s capital by approving a public-private deal to build a new 18,500-seat arena and retail center downtown.
The city council’s approval of the arena Tuesday was the last step in what has been a full court press by Mayor Kevin Johnson to keep Sacramento’s only major league sports team from bolting to Seattle, where a new ownership group and arena deal awaits. He now must convince NBA owners to block the Maloof family from initiating the move, a deal made public in January.
Since then, the mayor, himself a former NBA All-Star, has scrambled to assemble a group to buy the team, convince Commissioner David Stern to consider a counter offer, and get approval for the financial deal that would build a $448 million arena on the site of a shopping mall — a development many say will revitalize a problem area in its bustling city core.
Next week, Johnson will present the arena plan and purchase offer to an NBA committee. The following week, the NBA Board of Governors will vote on whether the team can be sold, and whether it will stay or move.
“We want the folks of Seattle to get a team, we wish them well, but we want to keep what’s ours,” Johnson said after the 7-2 vote to approve the arena. “We’re going to New York to talk about the viability of this market and the love affair we’ve had with our team.”
The Sacramento investment group includes Silicon Valley software tycoon Vivek Ranadive, 24 Hour Fitness founder Mark Mastrov and billionaire Ron Burkle, co-owner of the NHL’s Pittsburgh Penguins. Johnson announced late Monday that Paul Jacobs, CEO of the international technology company Qualcomm, also agreed to become part of the Sacramento bid.
“We have four billionaires who have said that Sacramento is worthy. It’s been a long time since people have validated us in this way,” said city councilmember Steve Hansen, who voted in favor of the deal.
The NBA has said the aging Sleep Train Arena in … [For more on Sacramento city council approves arena downtown, click here.]