Anaheim City Council Approves Funding For Kings
ANAHEIM, Calif. (AP) – The Anaheim city council has unanimously approved a $75 million bond deal to entice the Sacramento Kings to relocate to Orange County.
The city council voted 5-0 for the measure to a round of applause from a packed City Hall meeting room Tuesday night, calling it another major step in luring the Kings to Honda Center.
Anaheim Mayor Tom Tait repeatedly emphasized the city has no financial risk in the deal. Tait says Anaheim is a conduit for a private investment by Henry Samueli, the billionaire owner of the NHL’s Anaheim Ducks.
Samueli also manages the city-owned arena, and he’s putting his own money into a deal for upgrades to Honda Center and other moving costs.
The Kings must file for relocation by April 18.
(Copyright 2011 by The Associated Press. All Rights Reserved.)