Mayor: City agrees to $448M deal
SACRAMENTO, Calif. -- Sacramento city officials reached a preliminary agreement Saturday night for a new downtown arena with an investment group that hopes to keep the Kings from moving to Seattle.
Sacramento Mayor Kevin Johnson first announced the deal on his Twitter account. A few hours later, the city released the details of the non-binding term sheet.
The group includes Silicon Valley software tycoon Vivek Ranadive, 24 Hour Fitness founder Mark Mastrov and billionaire Ron Burkle. ...
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