Sacramento Kings buy site for new arena

The Sacramento Kings complete purchase the of a site for their new arena.

The Sacramento Kings have bought a mall that sits on the site for their planned £270m arena after seven months of negotiations.

According to a report from the Sacramento Bee, the team finalised the deal on Thursday to buy the Downtown Plaza from the San Francisco-based development firm JMA.

The newspaper says that the purchase price wasn't available, but documents filed showed that the Kings had borrowed money from Goldman Sachs Bank in connection with the transaction.

The arena is scheduled for completion in 2016, and will include office towers, a hotel, housing and retail.

Sacramento Kings head coach Michael Malone signals during the game against Los Angeles Lakers on November 24, 2013
Read Next:
Kings to stream via Google Glass
You May Like
Recomended from Sports Mole

Loading ...

Failed to load data.

Login, I already have my ad-free pass
Log in with Facebook to customise Sports Mole
Buy ad-free access (show me the options)
Buy monthly ad-free access for £1.20/month
Buy yearly ad-free access for £12 (2 months free)
Settings - Logout - Manage your account
Settings - Logout - Manage your account