It has been widely speculated that the Sacramento Kings would be moving to Seattle after the Seattle group led by investor Chris Hansen signed a deal to take over 65 percent of the franchise earlier this year, but there is a growing belief that the team could be staying in Sacramento thanks to a strong effort from mayor Kevin Johnson.
Johnson has rallying to keep the Kings in town and his latest move could be one that helps make that hope a reality.
The mayor announced that Qualcomm CEO Paul Jacobs has joined the Sacramento bid for a new downtown arena.
The Sacramento group features a number of very rich and powerful men that will be putting together a great proposal, which will be heard by the City Council Tuesday evening.
Jacobs joins a group that includes billionaire investor Ron Burkle, 24 Hour Fitness founder Mark Mastrov and TIBCO Software CEO Vivek Ranadive.
Sacramento city officials reached a preliminary agreement Saturday with the investment group for a new $447 million downtown arena. The city plans to contribute $258 million to the $447 million project, mostly by leasing out parking assets and donating land.
Sacramento is hoping to block a bid by a group that has a pending purchase agreement to buy the Kings from the Maloof family and move the team to Seattle. The NBA Board of Governors is expected to make a decision by the end of its April 18-19 meetings.
The Sacramento fan base has to be thrilled with the team Mayor Johnson has been able to put together.
If there was any hope that the team could return to Sacramento, the optimism has received a boost. Maybe, just maybe, the Kings can be staying in Sacramento after all and the fan base will not have to deal with the disappointment of losing their franchise.