Well, we talked to one journalist who covers the team closely, who told us this:
"All my sources indicated to me that there is no substance to reports of any connection between the Kings and Virginia Beach. The Maloofs seem to be digging in here."
Still, there was a bit of a flurry today when some local Sacramento stations reported the Kings are likely moving to Virginia Beach, Va.
From FOX40 News:
A new city has emerged as a likely destination for the Sacramento Kings, and the formal announcement could come next week. The office of the Mayor of Virginia Beach confirmed to FOX40 a basketball team is moving to their coastal city. While the mayor’s office could not confirm which team is moving, a source within the administration has told local outlets it is the Sacramento Kings.
The stories originated with a report on Virginia's Inside Business site, which relied almost entirely on anonymous sources but got detailed enough about ostensible plans to imbue it with a certain ring of truth:
Media giant Comcast will guarantee a 25-year lease on a new arena, supposedly for naming rights and for broadcasting the games, sources said...
City officials and the Maloof family are expected to announce Wednesday that the Kings will land in Virginia Beach, sources said.
Virginia Beach-based Meridian Group, a marketing communications firm, is expected to handle the public relations for the announcement.
To finance the arena, the Virginia Beach Hotel-Motel Association has indicated it would support a $1 hike in the lodging tax, sources said.
In addition, the Atlantic Coast Conference has agreed to place Virginia Beach on its list as a future venue for college ACC conference tournaments.
A well-known concert promoter – Live Nation – is associated with the deal for the new arena and the team’s relocation to Virginia Beach, sources say.
The new arena will be built across from the Virginia Beach Convention Center, adjacent to the former Norfolk Southern Corp. rail track and a proposed site for a light rail station.
“Comcast, Live Nation and Global Spectrum have come to the city,” Virginia Beach Mayor Will Sessoms said. “They would guarantee us a professional sports team" if the deal goes through.