The NBA today came to the rescue of Sacramento's arena deal, agreeing to chip in $3.26 million in...
The NBA today came to the rescue of Sacramento's arena deal, agreeing to chip in $3.26 million in pre-development costs after the Kings' owners balked at paying the money. [UPDATE: The NBA will actually chip in the first two weeks' worth of predev funds. -- TZ]
NBA Commissioner David Stern, in a statement to The Bee, said those pre-development expenses must be paid quickly. "Those discussions have stalled, but I have advised Mayor Johnson that the NBA will advance pre-development expenses on behalf of the Kings pending our report to the NBA Board of Governors at its meeting on April 12-13."
A Maloof family spokesman in Los Angeles told the Bee today the team does not feel that it should share in predevelopment costs because the team is only a tenant in the building, which would be owned by the city.