|Sacramento council approves Kings arena deal|
|Written by Admin|
|Tuesday, 26 March 2013 20:09|
Late Tuesday the Sacramento City Council voted 7-2 to approve a deal that contributes $258 million to the $447 million project. The city plans to use money earned from leasing parking garages for events at the arena to help pay the public cost of the new arena on the current site of an aging shopping mall.
The other $189 million will come from the California investment group seeking to have the NBA negate a pending sale that would move the team and restore the SuperSonics name.
Opponents argued that the city should not be paying to subsidize billionaires.