Report Says Sacramento Arena Would Cost $387M, But Funding Still Unclear
A "much-anticipated analysis" due out today pins the cost of a new downtown Sacramento arena at $387M, and "says it will fit on city-owned land at the front of the downtown railyard," according to Tony Bizjak of the SACRAMENTO BEE. City officials said that developer David Taylor and officials with ICON Venue Group "have not had time to do enough detail work to make the financing possibilities public." The analysis "has not yet concluded how much money might come from private sources, including the Kings owners, and how much might come from the public." Sacramento Mayor Kevin Johnson said that he "will form a regional coalition of elected officials and community leaders to spend the next 100 days working with Taylor and ICON fashioning a proposal for a financing plan." The Kings "threw a potential curveball into the arena financing picture by telling the arena study group two weeks ago the team is willing to consider simply being a tenant in a new" Sacramento arena. Johnson said that he "has talked with" AEG President & CEO Tim Leiweke "about potential involvement" in an arena (SACRAMENTO BEE, 5/26).