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Maloofs reject alternative plan

Posted by rc360 on March 28, 2011

Sacramento Kings fans had a lot to hope for in the past few days when a report came out that “money is in place” to keep the team from moving to Anaheim. Now, KTXL FOX40, the same outlet that broke the news, reports that the Kings owners, the Maloof family, have rejected the plan.

A Maloof spokesman issued this statement:

“A representative of the Maloofs listened to their plan in depth, but they do not have the financing in place and a renovation of the existing structure is not an adequate solution.”

FOX40 says that the plan was to renovate the Kings current arena while a new one was being built.

It is known that renovations to Power Balance Pavilion, the Kings’ current venue built in 1988, could not solve all the problems it currently has. In fact, it would be cheaper to build a new arena than to renovate it.

Read full story on Examiner.com Sacramento

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