Kevin Johnson Says Framework of Deal in Place to Keep Kings in Sacramento

The time for Kings fans to let out the final sigh of relief may be a ways off, but this is certainly the time to ready the champagne, as reports issue hope for the team to stay in Sacramento. 

After months of uncertainty, there is now reason to believe the Kings will remain in Sacramento. SI.com writer and former Sacramento Bee columnist Sam Amick reported mayor Kevin Johnson had some good news for his constituents.

"

Kevin Johnson says "framework of an agreement going forward" to keep team in Sacramento. "I want to jump up and down."

— Sam Amick (@sam_amick) February 27, 2012"

I wouldn't fault the former NBA superstar from jumping up and down with glee. There has been a dark cloud hanging over Sacramento for the last couple of seasons, and most of it has nothing to do with their lackluster record. 

USA Today reports Johnson met recently with Gavin, Joe and George Maloof to discuss a financing plan that would open the door for a new sports complex and keep the team in the state's capital.

 

UPDATE: February 27th, 2:10 p.m. EDT

The Sacramento Bee now has a report that issues the Maloofs would chip as much as $150 million to aid in building a new arena. 

The report quotes George Maloof, who issued what the family would offer in financial assistance:

"

...close to $75 million upfront, probably another $75 million over the term of the agreement.

We got something worked out, tentative. We're all very excited about it. We were skeptical about whether or not something could happen. 

"

The USA Today report notes that the deal would be for a $387 million entertainment complex, but there is no way of knowing if the agreement Johnson was referring to was for this exact figure. 

This comes as a last-second burst of good fortune, as the city was working under the confines of a March 1st deadline to get a financing proposal to the NBA. 

If they failed to do that, they risked losing the franchise to another city willing to give the Maloofs the new arena they have craved for some time. 

Now it seems they have that financing proposal. Thus, the thought of the Kings leaving Sacramento becomes far less of a certainty. 

The community that loves their Kings dearly may in fact have them for the long term.

You are now allowed to jump up and down, Sacramento. 

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