New Sacramento arena to be discussed during NBA

Sacramento Mayor Kevin Johnson, NBA Commissioner David Stern and Sacramento Kings ownership are expected to gather at All-Star weekend in Orlando, Fla., to discuss a new arena term sheet to submit to the city council March 6.

In a joint news release by Johnson and Stern, the sides expressed confidence about meeting the NBA-imposed March 1 deadline for a plan to finance a new $387-million arena downtown.

"Our approach makes good on the principles that have guided us throughout this process: protecting the taxpayers, creating jobs, and pursuing an open and transparent process," Johnson said in the statement.

Staples Center operator AEG is expected to contribute an estimated $53 million to the arena's construction, but it remains unclear how willing the Kings' owners, the Maloof family, are to contribute a reported $85 million in the public-private venture.

Anaheim would like the Kings to relocate south to Honda Center without such expenses.

"We appreciate the work of the City of Sacramento and our discussions have been constructive," Stern said. "Our hope is that current momentum continues in a way that we're able to reach a deal by March 1 that makes sense for all parties."