SACRAMENTO, CA - Two billionaires have come forward to be the majority partners in Sacramento's bid to keep the Sacramento Kings local and build a new arena in the downtown.
One of the major equityinvestors is Mark Mastrov, founder of 24-Hour Fitness, confirmed Sacramento Mayor Kevin Johnson during his State of the City onThursday evening.
Mastrovjoins 20 others, all local investors, including former NBA great and King Mitch Richmond, who've eachcommitted at least$1 million each in the mayor's "Play to Win" campaign.
As for the arena component, Pittsburgh Penguins owner Ron Burkle is partnering with the owners of the downtown plaza, JMA Ventures LLC,to build asports and entertainment venue in the downtown, Johnson said.
The mayor also announced that bringing back the Sacramento Monarchs is part of the proposal.
Friday morning, Mastrov and the Sacramento coalitionsent their counter-offer to the NBA's relocation committee and the Maloofs, majority owners of the Kings, to keep the franchise local.
"My understanding is it will be a full and competitive bid," Johnson said.
April 18 and 19, the NBA owners will vote on Sacramento's and Seattle's offers. News10 will be there.