Virginia Beach Unveils NBA Arena Plan

Virginia BeachThe Virginia city that’s reportedly trying to lure the Sacramento Kings has sketched out a tentative financing plan for a new arena, including huge public subsidies.

 

Mayor Will Sessoms of Virginia Beach, Va., told his City Council late Tuesday that the city would contribute $195 million and the state will be asked to contribute $150 million toward the effort.

 

Of the state’s contribution, $70 million would go toward arena construction and $80 million to help with team relocation expenses.

 

(Via SacBee)

 

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