City Beat

News, insight and discussion on Sacramento and its neighborhoods

April 12, 2012
Maloofs respond to criticism of Sacramento business leaders

The Maloof family said this morning they were "saddened and disappointed" by criticism launched their way by local business leaders who are asking the NBA to find new ownership for the Sacramento Kings.

Minutes after a dozen business leaders released a letter urging the NBA to force the Maloofs to sell the Kings, the family sent out a statement saying they "share in the community's frustration on forging a workable agreement on what it is ultimately a $400 million transaction that will impact the region for many years to come."

The statement, issued by family spokesman Eric Rose, said "the goal of the Sacramento Kings' organization remains to open the 2015 NBA season in a new arena in Sacramento, and we look forward to working with the city on making that goal a reality."

But, Rose cautioned, the sides "must insure the agreement works for all parties involved, and most importantly, the residents of the city."

The Maloofs are in New York today meeting with NBA owners to discuss a disagreement over the financial plans for the downtown railyard arena.

The disagreement stems from $3.2 million in pre-development costs the city said the Maloofs agreed to pay for the project. The Maloofs said they never agreed to pay those costs. The family has other concerns with the project as well.

As that meeting in New York began, Sacramento business leaders sent a letter to the NBA questioning the commitment of the Maloof family to Sacramento.

"We are at a very delicate time and we have come too far to see this thing fall apart," said Gregory Hayes, a member of Mayor Kevin Johnson's arena task force who organized the business group sending the letter.

The letter is available for viewing here.

A list of the arena presser attendees can be viewed here.

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About City Beat

Ryan Lillis has covered the city of Sacramento, its 108 neighborhoods and its politicians since 2008. Prior to that, he covered crime at The Bee. A native of upstate New York, Lillis has a journalism degree from the University of California, Berkeley.

Contact reporter Ryan Lillis at rlillis@sacbee.com

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