Anaheim Council Step Up Move for NBA Kings Issuing USD75m Bonds

The Anaheim City Council have unanimously approved the issuance of US$75m in bonds in a move that lays the groundwork for the National Basketball Association’s (NBA) Sacremento Kings to move to Honda Center next season.

The bonds will pay for $25m for Honda Center upgrades and $50m in working capital, money that could help pay for the Kings’ relocation fees.

None of the bond money comes from Anaheim’s general fund or from taxpayers.

The bonds will be purchased by private investment firms – headed by National Hockey League’s (NHL) Anaheim Ducks Owner Henry Samueli – and “paid back during a 10-year period”.