NBA: Latest Updates on Sacramento Kings Arena Fiasco

The Sacramento Kings may not be long for the city of Sacramento.

In late February, it was announced that Sacramento officials and team owners, the Maloof brothers, had agreed in principle to a deal for a new arena for the Kings that would cost just south of $400 million. The cost would have been split between the Maloofs, the city and arena builder AEG. According to the Los Angeles Times, the city would have taken on over $250 million of the total cost.

On Friday, that deal fell apart completely. According to the Associated Press, the Maloofs insisted at a Friday news conference that the new arena project was simply too expensive.

Instead, George Maloof proposed the idea of renovating Power Balance Pavilion. Most, however, have concluded that this is yet another attempt on the part of the Maloofs to get the team out of Sacramento.

Even commissioner David Stern has his doubts, as he said on Friday that he was "hopeful but not optimistic" that the Kings and the city could work something out, according to the USA Today.

Stern blames the latest setback on Christopher Thornberg, an economist hired by the Maloofs earlier this week to do a feasibility study. Conveniently, Thornberg determined that the projections for the new arena were flawed, and he questioned whether Sacramento's economy could support it.

The Maloofs famously tried to move the team to Anaheim last season, but a last-ditch effort by Sacramento mayor and former NBA player Kevin Johnson managed to keep the Kings in Sacramento for at least one more season. Now, the fear is that the 2012-2013 season could be the Kings' last in Sacramento.

For their part, the Kings say they're committed to staying in Sacramento. J. Michael Falgoust of the USA Today tweeted part of the Maloofs' Friday afternoon statement:

"

#Maloofs just released a statement: "We are committed to remaining the Sacramento Kings." #nba

— J. Michael(@jmikeNBAusat) April 13, 2012"

The Kings are scheduled to play in Power Balance Pavilion next season. Beyond that is the big unknown, though the Maloofs can't up and move the team without the approval of the league's relocation committee.

For the moment, the Maloofs are saying relocation is not an option.

"If it takes six more months (to negotiate), OK," said George Maloof.

Johnson is not sold. Here's what he said on Friday, via Ken Berger of CBSSports.com:

"

KJ: "They are now saying they don't want to do the deal, which is essentially saying they don't want to be in Sacramento."

— Ken Berger (@KBergCBS) April 13, 2012"

The Kings have been located in Sacramento since 1985.

The Maloofs are saying the right thing in insisting that they want to keep the Kings in Sacramento, but Johnson has a point. Backing out of the deal for a new arena is essentially backing out of a long-term future in Sacramento. The idea of renovating Power Balance Pavilion has to be taken for what it's worth, as the Maloofs know they're not committed to the arena for the long haul.

So don't be surprised if the Maloofs continue to stall for a little while longer and then reboot the effort to try to relocate the team.

If and when it comes to that, they'll undoubtedly say that they were left with no choice.