KINGS, LAKERS AGREE TO SHARE NEW ARENA

     Kings Owners Philip Anschutz and Edward Roski and Lakers
Owner Jerry Buss have reached a final agreement on sharing a new
20,000-seat arena to be completed by September '99.  The facility
will be part of an entertainment center developed and built by
Anschutz and Roski, with amenities that include luxury boxes,
club seats, private clubs and public restaurants.  The complex
will also house practice facilities for the Lakers and Kings.
The arena location has been narrowed down to Inglewood and
downtown L.A. (Kings).  According to Kings Governor Bob
Sanderman, three downtown sites are under consideration.  They
include land near the Convention Center, a site of Union Station
property and a 50 acre parcel adjacent to Chinatown.  The
proposed Inglewood location is on Hollywood Park land.  Sanderman
said the arena is expected to be privately financed, but noted:
"If we choose a downtown site, we may need some assistance with
land costs" (Earl Gustkey, L.A. TIMES, 6/29).