Looks like there is a deal in place to keep the Kings in Sacramento and build a new sports and entertainment complex.

Both the Maloofs and Sacramento Mayor Kevin Johnson sent out word that they have a framework in place for an agreement that would keep the Kings in Sacramento and build a new sports and entertainment complex.

Sacramento Mayor Kevin Johnson said the Maloofs will reportedly contribute upwards of $70 million and added, "It's game over -- so our community should be really excited."

Joe Maloof reportedly has said, "It's a great day for Sacramento...our family is just so excited."

George Maloof said it was a fair deal and that the Kings will now be in a better financial position to be able to spend on players and get a more competitive team out on the hardwood. George said he just wanted the best deal for his family and they got it.

NBA Commissioner David Stern also said he's very happy that a deal can be put in place to keep the Kings in Sacramento.