Anaheim Acknowledges Pursuit Of Sacramento Kings
ANAHEIM, Calif. (AP) -- The city of Anaheim has acknowledged its pursuit of the Sacramento Kings, revealing a financial plan to entice the team to relocate to Honda Center with $75 million in bonds.
Anaheim Mayor Tom Tait didn't mention the Kings by name in a statement released Friday, but he says the deal that will be considered at a special City Council meeting Tuesday poses no financial risk to Anaheim taxpayers.
Kings owners Joe and Gavin Maloof have been in discussions with officials in Orange County for several months on a move out of their aging Sacramento arena.
The proposed deal includes $25 million for Honda Center upgrades and $50 million in transition costs. The bonds would be funded by private investors and repaid by arena revenue.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
