Sacramento Mayor Kevin Johnson's "Plan B" to build a new sports arena is dead, reported ESPN.
As a player, Johnson was a three-timeNBA All-Star selection who holds many records for the Phoenix Suns franchise.
The newly dead option for a new arena for the Sacramento Kings or any other professional sports tenant -- never really took shape. Johnson said Tuesday that the city and arena operator AEG have concluded that the financial model is not viable for the region without an anchor sports tenant.
Kings owners Joe, Gavin and George Maloof pulled out of a plan to help finance an arena earlier this year, saying it didn't make financial sense for the franchise. The team has not commented about any arena project since but has maintained the franchise intends to stay in Sacramento.
Competing as a small market NBA team is very difficult and when you have an old run down house it is also very difficult to make money. If the franchise doesn't make money it is also very difficult to pay the price to attract top quality talent. Therefore the Kings are caught in a catch 22.