Update 12 p.m. KTXL TV Sports Director Jim Crandell reports on his conversation with Kings' co-owner George Maloof, who told him Sacramento needed to make a firm commitment to a new arena for the Kings to stay past the coming year.
Mayor Kevin Johnson's reaction from KCRA here.
Co-owner George Maloof told the Sacramento Bee this morning that the team is staying in Sacramento for at least another year. The Bee reports that NBA officials told the Maloofs the league wants the Kings to stay put rather than move to Anaheim.
Billionaire Henry Samueli had offered the financially struggling Kings tens of millions in loans to play in his company's Honda Center, in Anaheim, but Sacto Mayor Kevin Johnson had put up a last-ditch effort to save the team by lining up new corporate sponsorships. But the city must still convince the league that it has a plan to make the team financially viable in the long run.
KTXL Sacramento says it will broadcast a press conference of Sacramento mayor Kevin Johnson at 11 a.m.
The Orange County Register first reported the story.
For background on the Kings' saga, listen to our interview with Bee columnist Ailene Voisin from a few weeks ago.