In a move that mayor Kevin Johnson called “historic,” Sacramento’s City Council approved the deal to build a new $447 million arena in downtown Sacramento by a 7-2 vote.
The deal was reached earlier this week, and approval from the city is a huge step towards keeping the Kings in town.
Sacramento seems to be picking up steam in its bid to save the franchise, as a fourth big investor, the Jacobs family of Qualcomm, was named on Monday.
An investment group initially led by Mark Mastrov and Ron Burkle officially submitted an offer to the NBA to buy the Kings earlier this month.
The Kings were sold a few months ago to a Seattle group led by Chris Hansen, but is pending approval from the Board of Governors, who will meet to decide the future of the franchise on April 19.