Sacramento Kings to propose Virginia move, according to report

6:33 PM, Aug 23, 2012   |    comments
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SACRAMENTO - The owners of the Sacramento Kings are considering moving the team to Virginia Beach, according to a newspaper based in nearby Norfolk. But sources in Sacramento say the report is inaccurate, if not completely incorrect.

According to the article, the Kings would be tenants in a new arena to be built near the Virginia Beach Convention Center and operated by Global Spectrum, as published in Inside Business.

The paper says lease payments would be guaranteed for 25 years by Comcast, which owns Global Spectrum.

Comcast would reportedly get broadcast rights and its name on the new arena.

But Joe Maloof told USA Today they haven't talked to city officials in Virginia Beach.

Inside Business quotes sources as saying the Maloof family will join Comcast officials in announcing the planned move next Wednesday, one day after Virginia Beach mayor Will Sessoms briefs the city council in a closed session.

Maloof spokesman Troy Hanson told News10's Bryan May the family "gets calls from cities all the time," but that there was nothing imminent with any city, including Virginia Beach. Hanson also discredited the Maloof's involvement in any announcement.

However, the presentation is scheduled. Sources believe Comcast will make a pitch for a new arena, but will not have a team to bring to the table.

Meanwhile, some Virginia Beach officials are skeptical of the entire pitch.

"If they're looking for public money, I can tell you we can't afford it," said Virgina Beach Council member Bill DeSteph. "We don't have any big name companies that can pay for stadiums, arenas and skyboxes. I don't think we have the demographics here to support it." 

However, Virginia Beach's city manager believes Comcast can guarantee a team with a new arena.

"That's what was provided (to us) by our city manager, that they're guaranteeing us a team," DeSteph said. "I'm not positive, but I believe it was a basketball team."

A deal between the Maloofs and the City of Sacramento to build a $391 million sports and entertainment complex in the downtown railyards collapsed three months ago when George Maloof announced the family didn't want to assume the additional debt burden.

READ: Original story in Inside Business

By George Warren, and Nick Monacelli,


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