The drama over the Sacramento Kings' possible move to Virginia Beach will last at least one more day.
Although Virginia Beach's mayor set a deadline of today for cutting a deal on a new NBA arena, the mayor won't make any announcement today.
Mayor Will Sessoms is likely to make an announcement Tuesday, when the City Council meets, said city spokesman Marc Davis.
Sessoms imposed the deadline because he needs a deal in place before he can go to the state legislature for a proposed $150 million subsidy.
"I don't want to be wasting people's time or my time if we are not going to bring some conclusion to these negotiations quickly," the mayor said last week.
The Kings' future in Sacramento has been uncertain ever since the team's owners, the Maloofs, abandoned a tentative deal for a new arena in downtown Sacramento last spring. The Maloofs say their current building, Sleep Train Arena, is badly outdated and they nearly moved to Anaheim in 2011.
The Maloofs haven't commented on the Virginia Beach situation, but it's been widely reported that they've been in discussions with arena developer Comcast-Spectacor on a new arena.
The deal, as outlined by city officials in November, calls for a deal that's nearly completely publicly financed. The city would put in $241 million and the state $150 million, while Comcast would contribute $35 million. Those figures include $80 million in relocation expenses and $346 million for the arena itself.