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Kehriotis: Bid to Buy Kings “Very, Very Close”

SACRAMENTO-

Kings minority owner John Kehriotis told FOX40 News Thursday night he is “very, very close” to finalizing his plan to buy the Kings and build an arena in Sacramento.

FOX40 News broke the original story about Kehriotis’s interest in trying to buy the team from the Maloof family, the current owners. Thursday night, he indicated the final pieces of the plan may come together within the next few days, even though he will leave Friday morning for a vacation in Hawaii. He told us it will surely be a “working vacation.”

The final pieces to which he alluded may well involve the financing.

In earlier conversations with FOX40 News, Kehriotis indicated he had a commitment for the money, but did not yet have it in the bank.

Thursday night he said the total amount could be well over $750 million, the original dollar figure he cited as necessary to accomplish the purchase of the team and build an arena.

It is believed his preferred site for the arena is in Natomas, near the current Sleep Train Arena, rather than downtown which Sacramento Kevin Johnson would prefer.

According to Kehritois, when his plan is final, things will come “fast and furious”, and he said he is confident everyone will like his ideas.