Sacramento Mayor Kevin Johnson announced late Monday that Paul Jacobs, CEO of the international technology company Qualcomm, has also agreed to become part of the Sacramento bid. Sacramento is hoping to block a bid by a group that has a pending purchase agreement to buy the Kings from the Maloof family and move the team to Seattle. Sacramento is hoping to block a bid by group that has a pending purchase agreement to buy the Kings from the Maloof family, move the team to Seattle and restore the SuperSonics name. - Sacramento's City Council is scheduled to consider a wide-ranging deal Tuesday night that's designed to finance a new arena and keep the NBA's Kings from moving to Seattle. City officials reached a preliminary agreement Saturday with the investment group that hopes to keep the Kings from moving, but the late negotiations leave little time for council members to study the proposal before the vote. Since then, the mayor, himself a former NBA All-Star, has scrambled to assemble a group to buy the team, convince commissioner David Stern to consider a counter offer, and get approval for the financial deal that would build a $448 million arena on the site of a shopping mall a development many say will revitalize a problem area in its bustling city core.
With the clock clicking down, Sacramento city officials took their last shot at keeping the NBA Kings in California's capital by approving a public-private deal to build a new 18,500-seat arena and retail center downtown.