HoopsHype George Maloof rumors

May 13, 2013 Updates
May 11, 2013 Updates
April 29, 2013 Updates
April 18, 2013 Updates
April 3, 2013 Updates
January 10, 2013 Updates
November 29, 2012 Updates

Up until now, rumors and unconfirmed reports swirled around the Capital City about a Kings' possible move to Virginia Beach; however, now, sources in Virginia, who asked not to be identified, said George Maloof has met with state and city leaders there and plans are being drafted to possibly move the NBA team. At Tuesday night's Virginia Beach City Council meeting, Mayor Will Sessoms said media giant Comcast-Spectacor and its president, Peter Luukko, are very optimistic. "He is currently working on a long-term lease with a professional sports team that will serve as an anchor tenant to an arena," Sessoms told the council. news10.net

November 28, 2012 Updates

It is news no Sacramento Kings fan wants to hear, the team's owners are negotiating to move the team to Virginia Beach. Up until now, rumors and unconfirmed reports swirled around the Capital City about a Kings' possible move to Virginia Beach; however, now, sources in Virginia, who asked not to be identified, said George Maloof has met with state and city leaders there and plans are being drafted to possibly move the NBA team. news10.net

August 28, 2012 Updates

As for that chatter about renovating Power Balance Pavilion? The suggestion that George Maloof advanced in conversations with reporters last spring? Let's just say it's been a very quiet summer. Members of one prominent group advocating a Power Balance makeover are still trying to arrange a formal meeting. "We're ready to help in any way we can in advising the ownership group relative to the arena issue, whether it's a renovation or a new project that makes sense," said Greg Van Dusen, who was an executive with the team when the Kings relocated from Kansas City in 1985 and currently serves as spokesman for a group that includes an architect and engineer involved with the construction of Arco Arena I and II. "We're passionate about the Kings. We brought them here. We've been working on this pro bono for 3 1/2 years. That's not a complaint; it was our decision. We just love the Kings and want the team to stay in Sacramento." Sacramento Bee

August 23, 2012 Updates

The Virginia Beach Kings? I'm being told the owners of the Sacramento Kings - the Maloofs - will not be announcing a move to to Virginia Beach on Aug. 29 as was reported in this story - http://insidebiz.com/n... Joe Maloof is being quoted by multiple outlets saying he has not spoken to Virginia Beach. There's likely to be a statement from the team or family soon. Sulia

Jason Jones: FWIW source says Kings are not moving to Virginia ... Back to daddy duty for me folks. Twitter

A deal between the Maloof family, which owns the Sacramento Kings, and the city of Sacramento for a $391 million entertainment complex fell apart three months ago and it has been reported that the owners are looking for a city for their franchise. Media giant Comcast will guarantee a 25-year lease on a new arena, supposedly for naming rights and for broadcasting the games, sources said. Comcast owns NBC and Global Spectrum, which operates arenas and stadiums across the country including the Ted Constant Convocation Center at Old Dominion University. Hampton Roads Business Journal

To finance the arena, the Virginia Beach Hotel-Motel Association has indicated it would support a $1 hike in the lodging tax, sources said. In addition, the Atlantic Coast Conference has agreed to place Virginia Beach on its list as a future venue for college ACC conference tournaments. A well-known concert promoter – Live Nation – is associated with the deal for the new arena and the team’s relocation to Virginia Beach, sources say. Hampton Roads Business Journal

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