Sacramento Arena Proposal Calls for $85 Million from Kings Owners, Sources Say
From on February 16, 2012
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Sacramento has played its latest card. Now it wants to see what the NBA and the Kings can bring to the table in the effort to build a downtown arena.
With the City Council agreeing Tuesday to move forward with a key component of the arena financing plan, negotiators are scurrying to complete a "term sheet" in time for the March 1 deadline imposed by the NBA. The term sheet would be signed by all parties, including the league, the city and private developers, and would outline how the $387 million arena would be financed.
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