Mayor Kevin Johnson says Sacramento Kings Arena deal ‘dead’ – NBA news
After two days of unofficial talks between Sacramento city officials and the Maloof family to reach some sort of an agreement over the financial framework for the new arena of the Sacramento Kings ended on Friday, city Mayor Kevin
Johnson has pronounced the deal officially dead, citing irreconcilable differences.
"The differences are too far apart. They could not be really overcome. We felt that this fair deal was something everyone was willing to agree to. But the economics for them was difficult," said Johnson. "Our differences are irreconcilable.
We worked really hard. We did everything we said we would do and it still wasn't enough.”
Just two months back, it seemed like the franchise would stay put at Sacramento after the two parties tentatively agreed on a $391 million entertainment complex, to be ready before the 2015-16 season. However the Maloofs pulled
away from the agreement citing political uncertainties and financial modalities in the agreement and presented their case in the NBA Board of Governors meeting.
The NBA backed the owners and termed their reservations as genuine; putting the final nail in the coffin as far as the arena deal was concerned. Johnson had said at that time that the City Officials will no longer negotiate with
the Maloofs, but still tried to sort out the matters recently at the City Hall.
However, there has been no change whatsoever in the stances from both sides and the Maloofs will most definitely move the franchise.
"I'm disappointed for Sacramento," Johnson, an ex-NBA player himself, said. "When you do all that you can, normally the reward is a victory, and I think our community was planning to win."
"We know this door is closed," Johnson told the Sacramento Bee.
The possible destinations for the Kings can be Anaheim and Seattle, which was home to the Supersonics before the franchise moved to Oklahoma City in 2006.
As of now, Anaheim seems to be the most likely destination as it was only last year when the Maloofs nearly moved to the Honda Centre there. However, making a shift there will mean that the revenues from the state of California
will have to be distributed among Los Angeles Lakers, Los Angeles Clippers and the Kings.
The Los Angeles franchises are likely to oppose the shift and may lobby in the board of governors meeting to reject the proposal.
Tags: