February 27th, 2012 
Russ Loede 
Posted in 
The Sacramento Kings have reached a tentative deal with the city of Sacramento that will keep the team there long-term with a new arena to be built.
A tearful Gavin Maloof announced the pact after the Kings’ co-owners emerged from a Monday morning meeting in Orlando, Fla., The Sacramento Bee reported.
“We’ve always said we wanted to stay in Sacramento, and now’s our opportunity,” Joe Maloof said, according to the newspaper.
The Maloofs agreed to contribute more than $70 million upfront to the construction of the arena, “probably another $75 million over the term of the agreement.”
“Today is a new day for Sacramento and a defining moment for our community,” Sacramento Mayor Kevin Johnson said. “We came to Orlando needing to convert both ends of a one-and-one free throw. Over the weekend, the city hit the front end of the free throw by making clear it had delivered on its promises and, today, the Maloof family hit the second free throw by stepping up and increasing their contribution.”
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I am glad that they are staying. Living in Reno, we need something like this not too far from home. Not to mention Cousins is turning into the beast that everyone had hoped for! Really looking forward to the rest of the season.
-Sam
[...] Source: http://www.slamdunkcentral.com/2012/02/27/kings-reach-new-arena-deal-staying-in-sacramento/ [...]