Hampton Roads, VA – The Sacramento Kings are in the market for a new home after plans for a new arena fell apart in April, and a report Thursday indicated that Virginia Beach could be the team's landing place.
Inside Business, a media outlet located in Hampton Roads, Va., cites sources as saying the Kings and officials from cable giant Comcast-Spectacor are expected to be in Virginia Beach next week. Discussions, according to the publication, will include a potential move of the NBA franchise, owned by the Maloof family, and Comcast's help to build a new sports arena in the city.
The report said Comcast would have naming rights to the building and a 25-year lease, as well as broadcast rights for the Kings' games in Virginia Beach. Financing would also come from a $1 increase in the area's lodging tax.
Despite the detailed report, the Sacramento Bee received a statement from a Maloof family spokesman saying the Kings "have been approached by numerous cities interested in buying the team and relocating it. We are not going to discuss which cities have approached the team and are not going to comment on every rumor."
A $391 million deal to keep the Kings in Sacramento with a new building was announced by the city, the Kings and the NBA last February. It fell apart two months later.
The Kings have played in Sacramento since 1985 after relocating from Kansas City, and have played in the building formerly known as Arco Arena since the 1988-89 campaign.