SACRAMENTO, Calif., April 3, 2012 – As the City Council prepares to discuss the proposed new Sacramento arena tomorrow, Eric W. Rose issued the following statement on behalf of the Sacramento Kings:

The long-standing position of the Sacramento Kings is that that the team would be a tenant in an arena owned by the city and managed by an outside company. Pre-development costs are not the responsibility of the tenant. Further as a tenant, we should not be responsible to reimburse the operator for the development if the project never materializes. The Kings saw the term sheet, one week before the deadline and the Kings made it very clear to all parties that we were not going to pay pre-development fees. That is one reason why we have never signed the term sheet. While we have a good framework for a successful transaction, we still have issues that must be resolved. It is important for our fans to know that the Sacramento Kings organization is committed to working with the city to seek solutions to the unresolved issues