Sacramento, Calif., leaders and the owners of the National Basketball Association’s Sacramento Kings announced a tentative deal Monday to build a new arena in the city.

The city would contribute $200 million to $250 million to the deal, mainly by leasing its parking garages to a private company, according to the Sacramento Bee newspaper.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.