VIRGINIA BEACH (AP) -- Virginia Beach's mayor set a Monday deadline for Comcast Spectacor and an NBA team to agree on a lease for a proposed $300 million arena. Now he says he will issue a statement on Tuesday.

Mayor Will Sessoms tells media outlets that the city can't ask the General Assembly to provide $150 million for the project if there's no lease agreement.

City officials plan to partner with the Philadelphia-based sports and entertainment company to try and lure an NBA team to the town with an 18,500-seat arena near the Oceanfront.

Comcast Spectacor would lease and operate the arena.

Councilman Glenn Davis told 13News said if Comcast comes back with a deal, the city will respond. '

(It's) a self-imposed deadline so we can have the best chance of making sure our delegation in Richmond has all the details so they can help us fund the project. It could happen today. It may not. If they happen to come back tomorrow, it's not like we're going to say 'you missed our deadline,'' Davis stressed.

A Comcast-Spectacor spokesman declined to comment.

A specific team hasn't been mentioned. A likely target for relocation would be the Sacramento Kings, which failed to reach a deal to build a new arena there last spring.

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