Virginia Beach Needs Substantial Taxpayer Help To Build Arena
Virginia Beach on Wednesday asked the state of Virginia for $150 million to help build a new arena and assist the Kings with relocation expenses.
If the Kings decide to relocate to Virginia Beach, it will almost entirely be funded by taxpayers in Virginia.
The city itself would put in $195 million, and arena developer Comcast-Spectacor would contribute $35 million.
Despite the collapse of the downtown deal, the Maloofs have said they want to keep the team in Sacramento.
Seattle is also working on its own arena project.