Cost Rises For NBA Kings’ Golden 1 Center, But Team Covering Most Of Increase

The cost of building the NBA Kings’ Golden 1 Center “has jumped” an additional $16M, bringing the current price tag to $534.6M for the downtown arena, according to Dale Kasler of the SACRAMENTO BEE. The new price represents a 12% increase from the $477M budget that “was in place when the Kings broke ground” in October '14. Kings execs have said that the higher expenses “do not represent cost overruns.” Instead, they “reflect deliberate decisions they’ve made to add more features, such as a change in the seating configuration that will move hundreds of seats to the lower bowl and closer to the basketball court.” With the city of Sacramento’s subsidy capped at $255M, the Kings owners “have been shouldering most of the cost increases themselves.” However, the latest increase “will be picked up by corporate partners expected to play roles in operating the building.” The Kings “would not identify those partners” (SACRAMENTO BEE, 5/24).