It has been no secret for quite sometime that the NBA's Sacramento Kings have wanted out of that city. Instead of relocating to Anaheim as a rumored 3rd NBA franchise in the Los Angeles market behind the Lakers & Clippers, or perhaps moving to Seattle where a proposed new arena could be in the cards to land a new NBA or NHL team in the "Emerald City", might the Kings be headed east instead?
According to insidebiz.com, the Maloof family, the current owners of the Kings, and Philadelphia-based Comcast are expected to meet with city officials about a proposed move of the NBA franchise to Virginia Beach, VA. You read that right. Virginia Beach, VA.
The report suggests that Comcast, which currently owns NBC & Global Spectrum, owner/operator of many arenas, will guarantee a 25-year lease for naming rights, as well as broadcast the team's games.
The Kings have been looking to move since a reported $391 million new entertainment complex to stay in Sacramento, the team's home since moving from Kansas City, MO in 1985, fell through 3 months ago. Sacramento Mayor Kevin Johnson, a former point guard for the Phoenix Suns, has tried to keep the franchise in California's capital. In the following article, the Maloofs explain why they've got zero confidence in negotiating with Sacramento's Mayor and how a proposed new arena would be paid for.
http://insidebiz.com/news/sources-sacra ... deal-works