SACRAMENTO, Calif. (AP) — Sacramento Mayor Kevin Johnson’s “Plan B” to build a new sports arena is dead.
The second option for a new arena for the Sacramento Kings — or any other professional sports tenant — never really took shape. Johnson said Tuesday that the city and arena operator AEG have concluded that the financial model is not viable for the region without an anchor sports tenant.
Kings owners Joe, Gavin and George Maloof pulled out of a plan to help finance an arena earlier this year, saying it didn’t make financial sense for the franchise. The team has not commented about any arena project since but has maintained the franchise intends to stay in Sacramento.