Report: Sac. Kings negotiating move to Virginia

Sacramento Kings co-owner Gavin Maloof waves to fans before the Sacramento Kings and Utah Jazz NBA basketball game in Sacramento, Calif., Tuesday, Feb. 28, 2012.

August 23, 2012 11:28:40 AM PDT
A Virginia newspaper is reporting the Sacramento Kings may soon move across country. The paper is reporting team owners, the Maloof family, are negotiating to move the Kings to Virginia Beach.

Under terms of the deal, the Kings would get a new arena and Comcast would get broadcast and naming rights. Inside Business says the deal will be official next Wednesday after the Maloofs meet with city leaders. A $300 million deal to keep the Kings in Sacramento fell apart recently when they couldn't work out the financing.