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Money Talks: City Manager Will Ask Council Permission to Begin Arena Negotiations

Kings Bidding War

K Street’s Downtown Plaza has long been one of the sites talked about for a new new arena. (File photo)

SACRAMENTO—

In a City Council agenda item announced Saturday afternoon, Sacramento’s city manager is scheduled to ask the council to begin preliminary financial negotiations with the parties interested in buying the Kings.

The item is scheduled for Tuesday’s meeting. In it, the city manager will ask for authorization to start the financial part of the deal – negotiating the preliminary terms in building a downtown arena.

Mayor Kevin Johnson’s office noted in a release Saturday that discussions with the parties interested in buying the Kings and building an arena have been “proceeding well.”

Ron Burkle and Mark Mastrov have reportedly been in informal talks with the mayor’s office.

The agenda item can be seen here- http://sacramento.granicus.com/GeneratedAgendaViewer.php?view_id=21&event_id=1953