The potential deal, costing more than 400 million dollars, was first announced this summer. The target for the new arena, widely reported to be the NBA's Sacramento Kings.
But the deal hinges on $150 million in funding from the state and Mayor Will Sessoms felt the city had a better chance of getting it if they had a contract with a team.
Sessoms set a deadline for Monday that Comcast-Spectacor needed to have things locked up with the franchise they planned on bringing.
Comcast gave the mayor an update today, but the public will have to wait until tomorrow for the details.