For Sacramento Kings' fans, the news isn't good: Anaheim approved $75 million in bonds for the Kings in an effort to put a cherry on top of relocation efforts. The Maloof family, owners of the Kings, have long been targeting Anaheim as a potential new home for the Sacramento-based team, but efforts have picked up in recent months.
Anaheim Approves $75 Million For Sacramento Kings As Relocation Likelihood Increases
Tom Ziller broke down what the $75 million means over at SB Nation’s Sactown Royalty.
* The Maloof family has $50 million in transition funds to make the move. This money could go toward paying the Kings’ $77 million debt to the city of Sacramento, the NBA’s as-yet-undetermined relocation fee or Samuel Dalembert’s next contract. It’s loan to be paid back to Henry Samueli, owner of the Anaheim Ducks and operator of the Honda Center.
* The Honda Center will get $25 million in renovations, including a practice facility and locker rooms.
More importantly for Sacramento fans, the roadblocks for relocation are diminishing with each passing day. The NBA still must approve a move and money could still be an issue, but a Kings move to Anaheim looks to be all but a done deal as of now.
For more on the Kings and the possible relocation deal, check out Sactown Royalty and SB Nation Bay Area.
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