NBA's David Stern: No deal yet on new arena for Sacramento - Sacramento Bee

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NBA Commissioner David Stern said today there's no deal yet in the push for a new arena to keep the Sacramento Kings in town.

"We have several remaining points that will not necessarily be guaranteed to be bridged, but we're going to give it our best shot tomorrow," he said at a press conference in Orlando, Fla., site of the All-Star Game.

He noted that all sides met earlier today and will meet again tomorrow.

Stern allowed for the possibility the talks would fail, saying, "Sometimes the best intentioned and most fervent workers don't get to the finish line because there are things that separate them." He has imposed a March 1 deadline for an agreement.

When asked if he believes the Maloofs, who own the Kings, will be willing or able to contribute a sizable sum to the $387 million project, he said, "Life is a negotiation." Then he paused and added, "If there's a deal, they will make a very substantial contribution."

Sources have told The Bee's Ryan Lillis that the city wants the Maloofs to put $70 million to $90 million into the project.

Stern wouldn't go into details but said, "The Maloofs have stepped up, the city has stepped up."

He added that there's no guarantee the parties will reach a deal but said, "I'm most impressed by both sides.

"Both have come up with very substantial contributions. It's really getting there (but) we're not there yet."

The city is planning to privatize its parking operations, a deal that would generate around $200 million. That would constitute the bulk of the city's contribution.

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26 Feb, 2012

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