VIRGINIA BEACH, Va. (WAVY) - On Nov. 13, the Virginia Beach City Council will be presented with the final consultant's report regarding the feasibility of building a $350 million arena.
Gov. Bob Mcdonnell, Virginia Beach Mayor Will Sessoms and officials from Comcast Spectacor met in Richmond last week along with Sacremento Kings owner George Maloof in regards to the Kings moving their team to Virginia Beach.
Most of WAVY News' Bruce Rader's sources say they don't believe the area could survive without the assurance that the Kings will sign a long term deal.
But it won't be cheap. The Kings will have plenty of expenses, at least a $30 million relocation fee and $10 million to $15 million in moving expenses.
The Kings would have to play their games at the Constant Center at Old Dominion University for two seasons while the arena is being built. Thus, the team would want to be compensate for lost revenue and the total cost would be somewhere around $100 million.
It may sound like a lot but that is not an outrageous assumption, and it can be paid over time.
Norfolk Police are investigating the cause of death for male found unconscious on the beach.
Speaker Bill Howell will be in Chesapeake Monday to address the Hampton Roads Transportation Planning Organization.
It took fire crews about 10 minutes to get an electrical fire under control in Suffolk Sunday night.