Published: 1 years 133 days ago
Orange County Register: There have been rumors for years that the Kings, owned by the Maloof family, might leave Sacramento if the team doesn't get a new arena to replace antiquated Arco Arena.
The Maloofs steadfastly have insisted they won't sell the Kings, but it's not known how deep their financial problems are. The Kings moved from Kansas City to Sacramento in 1985 and have played at Arco Arena, located north of the city in Natomas, since 1988.
The Maloofs purchased a minority interest in the Kings in 1998 and took majority control in 1999, shortly after which the push for a new arena intensified. Arco was built on the cheap for $40 million with private funding, and the Maloofs say it doesn't have enough luxury suites, restaurants, amenities and advertising to generate a revenue stream to remain competitive in the modern NBA.
Though Sacramento mayor Kevin Johnson, a former NBA star, has been pushing for solutions to keep the team in the city, the opposition to public funding for a new arena could chase the Kings out of town.
http://www.ocregister.com/articles/nba-283389-kings-arena.html
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