Kings Owner Jim Thomas said that without $60M to pay
off his debt at Arco Arena, he'll have no choice but to
entertain lucrative offers from at least one major city
offering "a free arena, revenue off the arena and a bundle
of cash," according to Delsohn & Bizjak of the SACRAMENTO
BEE. Thomas added that if Sacramento agrees to the Arco
deal, the city would get a share of arena revenues now going
only to the Kings, and the chance to be an "economic
partner" in a new $150M sports and entertainment complex
near the arena. Thomas: "If you want professional sports
here, you cannot get a better deal." Sacramento Mayor Joe
Serna Jr. didn't "rule out" any of what Thomas proposed, but
repeated his commitment that no public money go to sports
teams without a public vote. Thomas did not mention any
possible city suitors by name, but Sacramento Treasurer Tom
Friery noted Thomas has mentioned "several possible new
locations" to him, including San Diego and Anaheim. The
City Council meets Tuesday and Thomas wants the Council to
vote or at least show "considerable interest" in his $60M
request to retire Arco debt. If his plan is approved, Thomas
said, he will sign a 20-year commitment to keep the Kings in
town (SACRAMENTO BEE, 1/17). The meeting "is shaping up to
be a pivotal moment in Sacramento sports history" as the
Kings' issue comes at the same time the council is set to
discuss what services should be cut to eliminate a projected
$11M budget shortfall (SACRAMENTO BEE, 1/18).
