The Daily Caller

The Daily Caller

NBA, Kings support proposal for new downtown arena

SACRAMENTO, Calif. (AP) — The NBA and the Sacramento Kings are throwing their support behind a proposal to build a new arena and entertainment complex.

The league and the Maloof family, which owns the Kings, announced Thursday they would support the plan unveiled by Gerry Kamilos, a Sacramento land developer.

Kamilos’ proposal involves moving the State Fairgrounds to the Arco Arena site in Natomas, and building a new arena in downtown Sacramento.

His plan was one of seven submitted in response to Mayor Kevin Johnson’s request in November. Johnson says the 22-year-old Arco Arena is outdated, and without a new facility, the Kings might leave town.

According to the NBA, the Kings agreed to put $300 million into the project by signing a 30-year lease with an annual rent of $10 million.

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Information from: The Sacramento Bee, http://www.sacbee.com