Virginia Beach Mayor Will Sessoms and Vice Mayor Louis Jones “had a good meeting” Thursday in Philadelphia with Comcast-Spectacor CEO Peter Luukko, according to a report from Bruce Rader of the Portsmouth, Va., T.V. station WAVY.
Sacramento Kings Linked To Continuing Virginia Beach Arena Plans
The meeting was significant because Luukko, who sat on the NBA Board of Governors in the past as the owner of the Philadelphia 76ers, is a main player in the Virginia Beach arena deal and "is close with NBA Commissioner David Stern," according to the report. Luukko has "convinced the [NBA's] owners" to bring the Sacramento Kings to Virginia Beach as long as the city's council can agree upon a plan to build the new arena.
The biggest holdup to the proposal, though, is whether or not the arena will generate enough money to pay off the bonds needed to pay for construction. The new arena is projected to cost $350 million.
With that major roadblock still remaining, WAVY reports, “there is still a long way to go” before any final decisions are made, and the final vote among the Virginia Beach city council might not come until December.
For more updates on the proposal to build a new sports arena in Virginia Beach, stick with this story stream. For updates about one of the rumored tenants of the proposed arena -- the Sacramento Kings -- head over to Sactown Royalty.
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