Sacramento Mayor Kevin Johnson announced in a press conference on Tuesday that he has 19 local investors who have pledged $1 million each.
Johnson has been working with the community to keep the Kings in Sacramento even as the current owners finalized a sale agreement with the Seattle investment group led by Chris Hansen.
Johnson did not shed any light on a major investor, or concrete financing plan for a new arena. However, he hopes to announce a major equity partner by the end of the week.
