Sacramento Kings: How NBA Executive Jeff David Stole 13 Million Dollars

In June 2015, the Kings and California credit union Golden 1 agreed to a 20-year, $110 million naming rights deal for the team’s new arena.

David and Golden 1 had a deal structure that included 20 annual payments averaging $5.5 million, per source.

Donna Bland, the CEO of Golden 1 claimed that if the Kings needed more money up front, then Golden 1 was in a position to accommodate.

David did not relay this information, and kept it for his own use.