Sacramento Council Approves $391M NBA Stadium

Law360, New York (March 7, 2012, 4:41 PM EST) -- Sacramento's City Council gave final approval late Tuesday to the Sacramento Kings' proposal for a new $391 million sports and entertainment arena downtown, a decisive move that will keep the NBA team in its namesake city after the owners had considered a move to Anaheim or Seattle.

Basketball fans in the other two cities had been hoping they had a chance to lure the team with competing arena proposals, but Sacramento's 7-2 vote solidified a financing deal reached Feb. 27 between Mayor Kevin Johnson, NBA Commissioner...
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