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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.

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