Sacramento Kings owners would get $50 million loan for Anaheim move

The loan is part of a $75 million package being offered by Henry Samueli's Honda Center to get the Kings into OC. From the Sacramento Bee:

Samueli's arena-management company is offering to spend $25 million to upgrade the building, including new locker rooms, office space and other improvements. The money could also be spent on a new practice facility, although at first the Kings would practice at an existing venue about two miles from the Honda Center. In addition, Samueli would pay for $50 million in "transition costs." Sources have said those costs would include the relocation fee imposed by the NBA, which could run to $30 million or more.

None of this would be great news for the Lakers, who have just cut a 20-year television deal with Time Warner Cable. A third NBA team in Socal would presumably eat into the team's revenues, reports ESPN Los Angeles.

The Lakers' agreement, which begins with the 2012-13 season and covers all preseason, regular-season and postseason games not nationally telecast, was viewed as a major blow for current rights holders Fox Sports West and KCAL-TV. The Kings, however, could lessen that blow and create competition for viewers and fans in Orange County if they filled the void left by the Lakers on both outlets.

ESPN.com reported the Lakers and Clippers have appealed to owners around the league to block the Kings' move, but aren't hopeful that they will be successful. Said Lakers coach Phil Jackson: "What other metropolitan area has three teams in it? It's ridiculous to put another franchise in this market," he said. "It just doesn't make sense to do that."