City Council Approves New Arena Negotiations
It’s deja-vu all over again.
After a symbolic vote of approval, Sacramento’s City Council has formalized it’s full-court press in a bid to stave off a bid by Seattle to take the Kings.
The 7-2 vote came down after several citizens raised concerns that promises of no tax dollars being diverted to this effort wouldn’t hold.
Tuesday night’s vote allows the city manager to spend $150,000 to bring in legal and financial advice to guide further discussions about a new sports and entertainment complex for the capitol city.
To date, the city’s efforts have been directed toward a possible public-private arena partnership, quarterbacked by the mayor.
Based on FOX40 news reports, council member Kevin McCarty encouraged the city manager to thoroughly investigate any private entities that may want to shepherd an arena deal.
Monday night, FOX40’s sports director Jim Crandell broke the story of Kings minority owner John Kehriotis expressing interest in putting together his own purchase plan with $350 million of his own dollars.
Team majority owners, the Maloof family, already have an offer on the table from Chris Hansen to move the Kings’ throne to Seattle.