Kings Sponsors Pledge to Keep Team in Sacramento

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    NEWSLETTERS

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    Feb. 18, 2011: DeMarcus Cousins of the Sacramento Kings and the Rookie Team goes up for a dunk.

    Nearly three dozen corporate sponsors pledged up to $10 million to help finance a plan to keep the Sacramento Kings from moving to Anaheim.

    National Basketball Association officials met today with Sacramento Mayor Kevin Johnson and the 33 corporate sponsors, mayoral spokesman Joaquin McPeek said.

    "This proves the city has stepped up in a big way and we're showing the NBA that Sacramento is serious in wanting to keep the Kings in Sacramento," McPeek said. "Nothing is, by any means, decided yet and we're not going to assume anything, but certainly we're hopeful for a positive outcome."

    Anaheim officials had no immediate comment. A message left with a team spokesman was not immediately returned.

    Sacramento officials have been meeting with league executives since last week in the state capital regarding the city's proposal to keep the Kings in town. Sacramento unveiled its proposal, which included financial backing from billionaire supermarket owner Ron Burkle, in an April 14 meeting with league officials in New York.

    The Maloof family, who own the Kings, have been frustrated for years by an inability to have a new arena built for the team.

    The deadline for the Maloofs to apply to move to Anaheim is May 2. League officials would then have up to 120 days to accept or reject the application.

    The Anaheim City Council voted unanimously March 29 to issue up to $75 million in bonds for improvements at Honda Center to help induce the Kings to relocate to Orange County.

    The companies announcing their pledges today in Sacramento included AT&T, Blue Diamond Growers, Greenberg Traurig LLP, Jiffy Lube, McDonald's, Mechanics Bank, Sac Jet, Sacramento Rivertrain, the Sacramento Municipal Utility District, Sutter Health, Thunder Valley Casino and Wells Fargo.