Sorry, Anaheim: The Sacramento Kings are staying put

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The Sacramento Kings will not become the Anaheim Royals after all. The club has reached an agreement to stay in Northern California.

NBA fans in Anaheim were so excited about possibly getting a team of their own, thousands of them got on a waiting list for seats at the Honda Center. And as recently as last spring, it looked as though the Sacramento Kings would be making the move to Southern California, because they couldn’t reach a deal for a new arena up north.

But all that has changed now.

Just days before the March 1 deadline imposed by the League, the Kings have worked out a financing plan with Sacramento.

At the heart of it is a brand new $400 million facility, built in the city’s railyards.

To pay for it, the owners (the Maloof family) will put up $150 million, while Sacramento kicks in most of the rest. The city plans to raise the money by privatizing some public parking garages.

AEG, the company that owns the Staples Center, will run the new Sacramento arena as well.

Anaheim, as you can imagine, is not happy about any of this. But the mayor says his city will get an NBA team... someday.

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