Sacramento Hires Meyers Nave to Review Its Loan Agreements with the Kings Basketball Team
March 28, 2011
The City of Sacramento has hired Meyers Nave to review loan agreements signed in 1997 between the City and the Kings Basketball Team. The Kings are contemplating relocating from Sacramento to Anaheim, but before they do, they will need to fulfill a legal requirement to repay a city loan in the amount of $77 million.
Meyers Nave will advise the City on its legal ability to enforce the basketball team’s obligation to repay its loan to the City, if the Kings decide to move to Anaheim. The City of Sacramento hired the firm based on the breadth and depth of our special counsel practice which includes experience in municipal finance and bonds, public facilities, real estate transactions, and litigation.