VIRGINIA BEACH, VA - The city of Virginia Beach has moved one step closer to potentially stealing the Sacramento Kings.
During Tuesday night's city council meeting, Comcast-Spectacor President Peter Luukko told council members arena negotiations were on track.
Comcast-Spectacor is the sports and entertainment company that would help finance and run the arena.
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According to the Virginian-Pilot, Luukko said, "We're negotiating hard. We're making progress, but we're not there yet. We have a ways to go, but every day is a better day."
During the presentation, Luukko would not name the professional sports team they're negotiating with, but sources tell News10 it's the Sacramento Kings.
The Virginia Beach City Council voted to move forward, continuing negotiations with all the players.
The timeline was also made public, with the city hoping to have all parties signing the dotted line by February or March.
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If that happens and the Maloofs decide to move the Kings, they would most likely file for relocation in March, in time for the NBA Board of Governor's to consider the application at its meeting in New York City.
By Nick Monacelli, email@example.com