Kings

Report: Virginia Beach-Kings arena details worked out

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Report: Virginia Beach-Kings arena details worked out

Virginia Beach has a proposal ready for the city to build a multipurpose arena, according to a report from WAVY-TV, the local Virginia television station.

Per direction of Mayor Will Sessoms, the city staff requested 150 million from state officials to help with "construction costs and moving expenses for the unnamed team."

One paragraph in the report stands out:"The Kings would be the main tenant."On Nov. 10, news leaked that Kings ownership met with Virginia Governor Bob McDonnell and city officials.

REWIND: Kings ownership meets with Virginia Beach reps

The Sacrmaento organization has maintained its position throughout the Virginia Beach arena rumors. As stated by George Maloof Jr.:

We have been approached by several cities over several years about moving the Kings, and we will not comment other than that."

Some financial details from WAVY-TV:
"The deal hinges on the Virginia General Assembly agreeing to borrow 150 million, with that money expected to be paid back over time via state tax revenue that would be generated by the arena.

70 million of the requested state funds would go towards arena capital costs, and 80 million will go to the team for moving expenses. That would include an estimated 30 million dollar relocation fee the Kings would have to pay the other NBA owners, and for potential loss of income the Kings would face by having to play two years at the Old Dominion Constant Center while the arena is being built.

Reports first surfaced Aug. 23 saying a consortium of sports and entertainment companies are working to bring the NBA's Sacramento Kings to Virginia Beach, VA."REWIND: Kings in talks to move to Virginia

Report: Kings meeting with former Magic, Warriors exec

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AP

Report: Kings meeting with former Magic, Warriors exec

In their search for Scott Perry's replacement, the Kings have spoken with the former GM of the Orlando Magic.

Otis Smith, who served as the Magic GM from 2006 to 2012, reportedly met with the Kings about their recently-vacated VP of basketball operations job.

News of the meeting for was first reported by ESPN.

Perry left the Kings this month to become the GM of the Knicks.

Smith has ties to Northern California. As a player, Smith's rights were sold by the Nuggets to the Warriors in 1987. He played in 137 games over two seasons with the Warriors.

After his playing days were over, Smith joined the Warriors' front office as the executive director of basketball operations.

Currently, Smith is the director of player development and an assistant coach for the Detroit Pistons.

Report: Deal in China for ex-Kings guard worth more than his NBA minimum

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AP

Report: Deal in China for ex-Kings guard worth more than his NBA minimum

Jimmer Fredette is reportedly going back to China.

Fredette agreed to terms on a two-year deal with the Shanghai Sharks worth $1.8 million annually, according to David Pick.

Fredette has accrued five years of NBA service.

The minimum NBA salary for Fredette in 2017-18 would be...

$1,709,538.

The Kings selected Fredette with the 10th overall pick in the 2011 draft.

He averaged 7.6 points per game as a rookie and 7.2 points in Year 2.

Sacramento waived Fredette in February 2014.

Over 50 games with the Pelicans in 2014-15, he averaged 3.6 points per game and shot below 19 percent from deep.

He did not see any action against the Warriors in the opening round of the 2015 playoffs.

In China last year, Fredette averaged 37.6 points and 8.2 rebounds per contest.

He scored 73 points on Feb. 19.