Sacramento Plans To Fund Majority Of $447M Arena

Law360, New York (March 25, 2013, 6:53 PM EDT) -- Sacramento, Calif., officials released a plan Saturday in which the city would bear more than half the cost of developing a $447 million arena, and hopefully dissuade the Sacramento Kings basketball franchise from taking off to Seattle.

The city released a term sheet, which will be up for a City Council discussion and possible vote Tuesday, that has it ponying up $220 million toward the new arena's development and handing over land worth $37.9 million. An investor group that is working to keeping the Kings in...
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