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Sacramento completes arena deal for Kings
Alan is an expert gambling writer who works as one of the chief editors for Basketball Insiders. He has been covering online gambling and sports betting for over 8 years, having written for the likes of Sportlens, Compare.bet, The Sports Daily, 90min, and TopRatedCasinos.co.uk. His particular specialisms include US online casinos and gambling regulations, and soccer and basketball betting. Based in London, Alan holds an MA in English Literature and is a passionate supporter of Chelsea FC.
All posts by Alan DraperUpdated10 hours ago on April 19, 2024
The city of Sacramento finalized an agreement to build a downtown arena for the Kings, according to the Associated Press.
Sacramento released the 35-year lease agreement Friday night. City Council is expected to vote on the deal May 20.
Cost for the arena is estimated at $477 million. The city is financing $223 million and the Kings will pay $254 million.
The Kings hope the arena opens in time for the 2016-17 season. Sacramento is required by the NBA to build the arena by 2017 or risk losing the team, which nearly moved to Seattle last year before software tycoon Vivek Ranadive bought the team from the Maloof family.
