The prospect of the Sacramento Kings moving to Virginia Beach appears to be dying, as the various sides tasked with building a potential NBA arena and the Kings are reportedly not near a deal, according to Bruce Rader of Virginia Beach NBC affiliate W-AVY.
Virginia Beach mayor Will Sessoms will release a statement Tuesday morning announcing that negotiations to build the arena are at a standstill. Sessoms will make the announcement with Peter Lukko, president of Comcast Spectacor, a corporation that operates arenas across the nation.
Rader reports that the deal isn't really sure enough for any of the parties involved: the two sides actually involved in building the arena aren't close, meaning the Kings won't guarantee their relocation to Virginia Beach, meaning the city won't risk building an expensive arena. Virginia Beach would need to ask the state of Virginia for $150 million to make the deal work, something they're unlikely to propose at the current moment.
It's not clear whether the Kings will opt to stay in Sacramento or move elsewhere, but the money doesn't appear to make sense for Virginia Beach to be a possibility right now.