The city of Sacramento isn't going to lose their franchise without a fight. With plenty of signs point to the Kings franchise heading to Seattle and becoming the Sonics for the 2013-14 NBA season, the Sac Bee is reporting that on Saturday, Sac-Town officials announced that they reached a deal "for the largest redevelopment project in city history." Valued at $447.7 million, an arena located at Downtown Plaza will offer 1.5 million square feet of offices, housing, stores and a high-rise hotel. Of course, the city will need to commit "$258 million in value, or 58 percent of the arena cost." In addition, "the city would own the arena; the private group would operate it and be responsible for its ongoing upkeep. The city would be guaranteed a minimum of $1 million in arena revenues annually, with bump-ups if arena revenues hit certain levels."
This new development should help make a great case as to why the Kings should stay in Sacramento when the NBA officials reconvene in New York in two weeks. David Stern won't have an easy decision on his hands.
[via SLAM]
