Sacramento Mayor Kevin Johnson made major Kings announcements Thursday night at his annual State of the City address, including naming Ron Burkle and Mark Mastrov as major investors in the effort to keep the team in town.
Burkle, who owns the Pittsburgh Penguins, will be leading the effort to have a new sports and entertainment complex where the Downtown Plaza currently stands.
Mastrov, founder of the 24-Hour Fitness gym franchise, will place a bid to buy the Kings. Johnson said Thursday night that the official offer will be submitted Friday, March 1.
Behind Mastrov is a group of more than 20 investors that are in for $1 million each. Among them is former Kings player Mitch Richmond.
Johnson also said that Sacramento’s local ownership group plans to resurrect the Sacramento Monarchs WNBA franchise.