Maloofs shut down latest Sacramento arena plan

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Well, that didn’t take long. After a plan had been submitted that was supposed to save Sacramento from the Kings’ relocation to Anaheim, including a funding source, the Maloofs have already gone and rejected the proposal, because the money wasn’t there and called for renovation, not a new arena.

“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,” the team owners said in a statement Saturday.

via Kings Blog and Q&A: Maloofs: Latest Sacramento arena plan not suitable.

No big surprise, there. The Kings weren’t staying in Arco under any circumstances, even the Mayor had said so. If the money wasn’t in place and no new arena, this was never as realistic an option as it was touted to begin with.

That may just about do it. Sacramento’s hopes now rest on either the city of Anaheim voting against bond issuances to renovate the newer Honda Center (that’s right, renovations to Arco are not okay but renovations to Honda are, due to the age differential – a whopping 5 years), or the NBA owners to reject the Kings’ expected relocation request.

The feeling of helplessness has settled into Sacramento. This is just the latest nail in the coffin, sadly.