Sacramento mayor announces arena deal has been reached

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SACRAMENTO, Calif. - Sacramento Mayor Kevin Johnson announced Saturday over Twitter an agreement with an investor group to build a new arena in the city has been reached.

The deal could keep the Sacramento Kings from moving to Seattle.

“I’m pleased to announce an agreement w/ Burkle-Mastrov-Ranadivé group on a public-private partnership to build a new ESC at DT Plaza Mall,” Johnson tweeted.

Johnson said the deal will be presented to the Sacramento City Council to be considered.

On Thursday, a third investor was introduced to keep the NBA franchise in Sacramento. Vivek Ranadivé will join billionaire Ron Burkle and Mark Mastrov in an investor group.

An investor group in Seattle, led by Chris Hansen, has signed an agreement to buy the Kings and bring them to Seattle.

In April, the NBA Board of Governors will hear presentations from both groups and will decide which offer they prefer.