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Steven Greenhut

Sacramento Is Fresh Victim of Bad Stadium Deals

Officials in Sacramento, California, are furious that the owners of the Kings basketball franchise, the Maloof family, said they are backing out of a handshake deal in February to invest $73 million in a project to build a new arena downtown.

This publicly funded stadium issue has raged in cities across the U.S., including Indianapolis, where the highly subsidized Lucas Oil Stadium was host to this year’s Super Bowl, and Minneapolis, as Minnesota legislators ponder a deal to build a new football stadium for the Vikings.