Originally posted on Pro Sports Daily  |  Last updated 4/14/12

A deal to build a new stadium to house the Sacramento Kings has fallen apart.

The team's owners, the Maloof family, backed out of plan to finance a $391 million arena, putting the future of the franchise in doubt.

Sacramento Mayor Kevin Johnson, a former NBA player, said the deal approved last month by the city council was dead.

"(The Maloofs) are now saying they don't want to do the deal, which essentially means they don't want to be in Sacramento," Johnson said.

NBA commissioner David Stern said he was extremely disappointed by the news and added there's "nothing further to be done" as far as negotiating a new deal.

The Maloof family proposed renovating the Power Balance Pavilion, a notion shot down by Johnson and one previously rejected by the family.

Stern had little to say about the next move for the franchise.

"I know we've scheduled them into Power Balance Pavilion for next year," Stern said. "It just wouldn't pay for me to talk about anything beyond that."

Last year, the city of Anaheim approved a financing plan to renovate the Honda Center and cover the costs of an NBA relocation fee in an effort to persuade the Kings to move.

GET THE YARDBARKER APP:
Ios_download En_app_rgb_wo_45
MORE FROM YARDBARKER

WATCH: Bubba Watson's caddie owns heckler at PGA Championship

NFL denies sending Donald Trump letter about schedule

Michael Bennett calls out NFL stars for not speaking up on social matters

Nationals make astute move in acquiring Melancon

Son of former NFL player Antonio Armstrong charged with death of parents

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

U.S. Senator “appalled” by Bettman’s stance on concussions

Team USA’s Opening Ceremony uniforms look a little treasonous

Lawyer who reps concussion lawsuit wants to speak with Bettman

Tyler Eifert says he will never play in the Pro Bowl again

Australian athletes evacuate the Olympic village after fire

Russian weightlifting team banned from Rio

Texans GM 'disappointed' in DeAndre Hopkins

Can Andre Johnson end his regression in Tennessee?

Favre opens up about painkiller addiction during career

Miami women’s basketball coach criticizes Texas A&M following slideshow

Twin Cities preparing for influx of sex trafficking during Super Bowl LII

WATCH: Bautista bat flip will be available as NHL 17 celebration

Former USMNT, current MLS forward Davies battled cancer, in remission

The definitive guide to U.S. Men's Basketball at Rio 2016

Tony Romo training camp picture leads to fat jokes, concern

Matt Cullen’s family eats cereal out of the Stanley Cup

Texas A&M suspends coaches for sexist slideshow

10 most dangerous college football defenders in 2016

NBA News
Delivered to your inbox
You'll also receive Yardbarker's daily Top 10, featuring the best sports stories from around the web. Customize your newsletter to get articles on your favorite sports and teams. And the best part? It's free!

By clicking "Sign Me Up", you have read and agreed to the Fox Sports Digital Privacy Policy and Terms of Use. You can opt out at any time. For more information, please see our Privacy Policy.
the YARDBARKER app
Get it now!
Ios_download En_app_rgb_wo_45

Dr. Phil calls out the Patriots for their cheating ways

Everything that's already gone wrong at the Rio Olympics

Amar'e Stoudemire's presence (and absence) changed the NBA

We asked Team USA: What other Olympic sport would you play?

Why Gary Bettman's CTE denial is cause for concern for NHL

WATCH: Inside the Nike SNKRS BOX in SF for Golden Air Celebration

WATCH: Five other uniforms Chris Sale should cut up

QUIZ: Name every Olympic event in which the USA has never won a gold medal

Five U.S. Olympians favored to win multiple gold medals

WATCH: What teams should join the Big 12?

Today's Best Stuff
For Publishers
Company Info
Help
Follow Yardbarker