Oct 30, 2013; Sacramento, CA, USA; Sacramento Kings fans hold up purple glow sticks before the game between the Sacramento Kings and Denver Nuggets at Sleep Train Arena. Mandatory Credit: Ed Szczepanski-USA TODAY Sports

NBA Rumors: Sacramento finalizes deal for new Kings arena

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Outside of Milwaukee’s Bradley Center, there aren’t many (if any) more decrepit arenas in the NBA outside of Sacramento. But that’s soon to change, assuming a city vote passes on May 20th.

After nearly being sold and relocated to Seattle, the Sacramento Kings are a handful of votes away from setting in rebar and pouring concrete on their new arena as the city of Sacramento finalized an agreement on the Kings’ new downtown arena.

The city released the 35-year lease agreement Friday night. The Sacramento City Council is scheduled to vote on the deal May 20, when it could end years of uncertainty surrounding the home of the Kings.

The project will cost an estimated $477 million. The city is responsible for $223 million, while the Kings will contribute $254 million.

Assuming the deal passes as expected, the new arena is scheduled to be ready for play come the 2016-17 season. The NBA had informed the new Kings ownership, lead by Vivek Ranadive, that they had until 2017 to open the arena or the league could take control of the team.

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Tags: Sacramento Kings

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