Cavs "Quietly" Sought County Funds For Arena Bettman: Flames Need New Arena Marquette, Bucks Partner On Athletics Center Gillette Stadium Adds Cross Insurance Pavilion NASCAR HOF Sponsors Revenue Plummets Glendale On Pace To Lose $8.8M On Arena Deal OU Prez Says Stadium Upgrades Not Delayed Indy Eleven Unveil Stadium Renderings Wisconsin Gov. Proposes Bucks Arena Funding Inglewood Likely To Vote On Proposed NFL Stadium
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SBD/Issue 86/Facilities & Venues
Sacramento Arena Task Force Open To All Seven Proposals
Published January 18, 2010
|Sacramento Arena Task Force Could
Combine Ideas From Several Proposals
TOO GOOD TO BE TRUE? In Sacramento, Marcos Breton wrote under the header, "Is Land-Swap Arena Proposal Too Bold For Sacramento?" It seems an "amazingly clever and innovative deal -- and too good to be true." Putting aside the "environmental questions and neighborhood opposition, it's unclear whether the state can sell Cal Expo to one group without putting it out to competitive bidding." Also, the new arena "would go up on city-owned land at the railyard -- though the city is headed to arbitration with the railyard developer over the value of that land." The developer, Thomas Enterprises, "has its own arena bid competing against the Kamilos plan." Breton noted Kings Owners the Maloofs are "on board" with an arena plan "for the first time," supporting the Kamilos plan. The new Kings arena at that location "would be paired with a new transit station that could be the hub of a revitalized downtown," and Cal Expo "could become a thriving commercial and residential area instead of a worn-out fairground." Breton: "It's a bold vision that transcends our sensible-shoes landscape" (SACRAMENTO BEE, 1/17). A SACRAMENTO BEE editorial stated it is "appealing that Arco could be reused as a Cal Expo exhibit hall, instead of tearing it down or building housing on this floodplain property." But there also are some "open questions about how this deal would be structured." The city "has lent the Kings" $70M, and Moag said the loan would be "retired" as part of the proposal. The NBA insisted that it is "not expecting the city to 'forgive' the loan," but the editorial wondered, "If not, what will be the source of funding for retiring this debt? And what would the city get out of this deal, in exchange for giving up land?" (SACRAMENTO BEE, 1/16).