Anaheim Approves $75 Million In Bonds To Lure Sacramento Kings: What This Means

The Anaheim City Council has voted 5-0 to issue $75 million in bonds aimed at lubricating a Sacramento Kings relocation to Orange County. What does this mean? (This all bars litigation. Someone could file suit and ask for injunction to prevent the bond issuance before Anaheim can get them out the door.)

* The Maloof family has $50 million in transition funds to make the move. This money could go toward paying the Kings' $77 million debt to the city of Sacramento, the NBA's as-yet-undetermined relocation fee or Samuel Dalembert's next contract. It's loan to be paid back to Henry Samueli, owner of the Anaheim Ducks and operator of the Honda Center.

* The Honda Center will get $25 million in renovation, including a practice facility and locker rooms.

* The Maloofs still need NBA approval to move. It will take majority approval from the 30 NBA owners. (Yes, New Orleans still has its own vote, made by the NBA-appointed chairman, Jac Sperling. The Maloofs get a vote, too.)

* The Lakers can still throw a wrench by getting other NBA owners to approve a hefty relocation fee. Majority approval decides relocation fees.

* The Maloofs could decide the costs are too great.

It looks like the Kings are out the door. One foot, four toes. Hang on.

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