Though there is broad agreement over funding of a new Sacramento Kings (NBA) arena, the tires will hit the road when a formal term sheet — with specific figures — is released.
That release is scheduled for tomorrow. It should be interesting: the biggest chunk of arena financing, the sale of future downtown-parking revenues, is still a long ways from being settled, according to the Sacramento Bee. Indeed, some of the bidders for the rights are backing away from offers to put money up front and recommending the city establish a parking authority, with arena revenue borrowed against those future revenues.
So it will be interesting to see how the money plan actually comes together. It should not be a big point of contention if the term sheet matches what the Maloofs, David Stern and AEG expect; if it doesn’t….
RELATED STORIES: Sacramento, Kings reach tentative arena deal; Sacramento arena plan: still a work in progress; How realistic is Sacramento arena plan?; Sacramento to discuss parking leases with 11 suitors; Kings’ arena quest coming down to the wire; Sacramento officials push arena idea — but no funding plan; Kings to share financials for arena research; Kings to stay in Sacramento for ’11-’12; Will Kings move? No one seems to know; Report: Kings likely to stay in Sacramento for ’11-’12; Kings relo app deadline pushed back to May 2; Anaheim to discuss aid for Kings; Maloofs shoot down Arco refurb; Kings: From boom to bust; With Kings eying Anaheim, Johnson vows to continue arena quest; Maloofs sell naming rights to arena; admit to looking at moving NBA’s Kings; Johnson: We’ll take another run at new Kings arena; NBA: We’re done with Sacramento arena efforts; Consultant: It makes no sense to move Cal Expo as part of arena project; Maloof: We’re not looking at move to Seattle; Size of Arco Arena site threatens Kings arena deal
—-
Sign up for the free weekly Arena Digest newsletter and keep up with the latest happenings! You can sign up here.
