The Maloof Brothers have pledged to contribute $150 million help build an arena in downtown Sacramento in an effort to keep the Kings in the state’s capital, according to the Sacramento Bee.
George Maloof told reporters Monday morning that the Maloof family would contribute close to $75 million right away to help build the stadium. According to the paper, they plan to contribute another $75 million over the course of the newly founded agreement.
"We got something worked out, tentative,” Maloof said. We're all very excited about it. We were skeptical about whether or not something could happen."
The NBA will also make a contribution to the project, however the size of that contribution is not yet known.