The Sacramento Kings could be relocating to Virginia Beach, Virginia according to a report on Thursday from “The Hampton Roads Business Journal,” as their sources state that the club’s owners; the Maloof family, will meet with representatives of media giant Comcast next Tuesday and an announcement that the team will be moving East, could come as early as next Wednesday. Another big player, concert promotion company Live Nation, will also be involved if the deal comes to fruition.
The report states that Comcast would play a major part in helping to build a new arena for the club, also guaranteeing a 25-year lease; in exchange for naming rights and broadcasting the franchise’s games. The corporation, that started out as a cable provider and now is the owner of NBC/Universal, also has Global Spectrum a company that manages other arenas and stadiums throughout the nation, under their corporate umbrella. The report also states that the Meridian Group will be in charge of public relations for the press conference that would confirm the deal.
The team’s new home would be built directly across from the city’s convention center and a light rail station could be built nearby; which would make the new arena easily accessible. The report also states that the Virginia Beach Hotel-Motel Association, would most likely endorse a one dollar hike in the city’s lodging tax.
After flirting with Anaheim last year, it appeared as if the franchise and Sacramento, that would give the team a state of the art complex, reportedly valued at $391 million. That deal, would fall apart about three months ago and the Kings are proactively searching for a new city to live in. The Kings, originally the Rochester Royals; moved to Sacramento back in 1985 and have played in the same arena since their arrival.