"The owners of the Sacramento Kings, an NBA franchise, and officials from Philadelphia-based Comcast-Spectacor are expected to be in Virginia Beach Tuesday to propose moving the team to the resort city and for Comcast to help build and lease a new pro sports arena. Media giant Comcast will guarantee a 25-year lease on a new arena, supposedly for naming rights and for broadcasting the games, sources said. Comcast owns NBC and Global Spectrum, which operates arenas and stadiums across the country including the Ted Constant Convocation Center at Old Dominion University. City officials and the Maloof family are expected to announce Wednesday, Aug. 29, that the Kings will land in Virginia Beach, sources said."
Let’s remember – the Kings came so close to moving to Anaheim that announcers cried on the final game of the 2010-2011 season. And as recently as February, the team had framework in place to stay in Cow Town.
As they say … developing … [Hampton Roads Business Journal]