Kings Arena Deal Dead in Sacramento, Again

Back on April 13, 2012, the Maloof brothers reneged their contributions for their new arena at the Downtown Sacramento Railyards after the Arena deal seemed ready to go in February. After the arena deal was reneged, Sacramento’s Mayor Kevin Johnson declared the end of a relationship with the Maloofs after fighting to keep the Kings from moving to Anaheim in April of 2011.

As of now, the Kings are going to play the 2012-2013 season with many questions to be answered by the end of the year.

With the Maloofs reportedly over $200 million in debt from the NBA and City of Sacramento combined and no support for relocations to Anaheim, there has been raising questions on whether they were going to sell the team.

According to Joe Maloof after the drafting of Thomas Robinson 5th overall pick from Kansas:

“We’re not going anywhere. We’re not moving. We’re not selling. We’re going to fix our team-that’s what we’re going to do.” 

But can Thomas Robinson really turn this franchise around with a very low payroll and a young team? Recently Tyreke Evans has been rumored to be on the trading block with the Kings not having the money to extend his contract. As long as the Maloofs are stuck with Power Balance Pavilion, it looks like the Kings are going to be stuck in the draft with a very limited ability to sign any players in the free agent market.

FINALLY…..

Kevin Johnson’s “Plan B” to build the new arena has been declared dead as of July 3, 2012. The second option for a new arena for the Sacramento Kings or any other professional sports tenant-never really took shape, Johnson stated “The city and arena operator AEG have concluded that the financial model is not viable for the region without an anchor sports tenant.

What does this mean?

With two plans failed for the new arena, the Maloofs financially strapped and an ineffective arena still sitting….don’t the Maloofs eventually have to sell?

From Seattle’s perspective, this should be looked at as an opportunity for potential relocation to bring back an NBA team toSeattle. It is crucial that the Seattle City council and King County council approves the arena deal because if the arena deal is in place, this is another step towards the arena. If the arena deal fails then it is back to square one and we could be in the long hall for any hopes to bring back the NBA and NHL.

  • Yerpon

    A waste of time.  The Maloofs are still meeting informally with Anaheim and will announced the move early next year.  The Seattle market is too small for someone to make money in (check Mariners attendance).  

    • Anonymous

      Each sentence of that is blatantly ignorant in its own way