Menu
Facilities

City Of Sacramento Details Debt Repayment Plan For Kings' New Golden 1 Center

The city of Sacramento's "dollar value" for its 35-year bill for the public’s share of construction of the Kings' Golden 1 Center is $625.6M, according to Ryan Lillis of the SACRAMENTO BEE. However, City Treasurer Russ Fehr on Tuesday said that the Kings "will cover the majority of that figure with lease payments and property taxes paid to the city." Fehr said that the Kings’ "annual lease payments to the city to help cover bond repayments will total" at least $371M -- or 59% -- of the public’s share over the 35-year term. Those payments start at $6.5M in '17 and "will gradually increase." Eventually, the lease payments "will cover" all of the estimated $18.3M in annual repayment of the bonds. Fehr added that property taxes paid by the Kings will total another $48M "over the life of the bonds." Lillis noted the Kings also borrowed $265M to "cover their end" of the $507M construction budget. Fehr said that city parking revenue will contribute $147M "to the bond payment plan over the term." In addition to the bonds, the city also contributed roughly $43M "in subsidies to the project, mostly in the form of underdeveloped city-owned parcels it transferred to the Kings" (SACBEE.com, 1/27).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Daily/Issues/2016/01/29/Facilities/NBA-Kings.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Daily/Issues/2016/01/29/Facilities/NBA-Kings.aspx

CLOSE