Kings may be losing big moneyPosted by Inside Hoops
The Sacramento Bee (Ailene Voisin) reports: Responding to speculation about the Kings’ future in Sacramento, Kings co-owner Joe Maloof on Monday reiterated the family’s commitment to the community. However, he expressed concern about projected financial losses and an urgency regarding plans for a new arena. Though he refused to cite a figure, sources close to the team estimate the franchise could lose up to $25 million this season, making it seem more likely that the Maloofs would be receptive to offers from officials in other markets – with more profitable arenas – who are interested in acquiring an NBA franchise. One league executive identified representatives from Anaheim and San Jose as particularly aggressive suitors.