Keeping the Kings commands a princely sum

NBA Confidential and writer Sam Amick snagged a copy of ICON Venue Group’s presentation to the City of Sacramento detailing the options for a new arena. Sadly, the copy is a scanned version of a black-and-white printout so it doesn’t look pretty, but it does have the numbers and the important details.

The arena, designed by Populous, looks like a scaled down version of Amway Center or Staples Center. Arena capacity is pegged at 18,594 seats, with the cost being $387 million. Here are the vital stats:

The reduction in square footage helps keep costs down, otherwise the price tag would soar to $500 million or more. Other amenities aren’t as plentiful, such as elevators or specialty bars. The ratio of standard suites (12+ attendees) to mini suites (4-6) is also interesting in that it’s an indicator of where the suite-buying market’s interests are. The full mix of premium seating options (in green) shows just how many ways teams and arena operators can squeeze out maximum dollars out of a venue, and how ARCO Arena/Power Balance Pavilion was devoid of those options.

Populous took pains to place the arena at two possible sites. One is the south end of the existing arena’s parking lot. The other is the downtown railyards site. Site prep costs for the two are very similar, separated by only $3+ million. Soft costs are not included. The question, then, becomes a matter of figuring out the financing piece. To that end, the preso outlines a “100 Day Plan” that would allow the City and other parties to figure out the financing model for the publicly owned arena. If that can be identified, the EIR process can start in September and funding sources can be secured by next March’s NBA relocation deadline. If all goes according to plan, construction would start in January 2013 with a May 2015 opening date, after the 2014-15 regular season is over. Accelerating the schedule to finish by the start of the season would incur some unknown additional costs.

Last week the Maloof brothers sent Mayor Kevin Johnson to Secaucus, NJ to be its draft lottery representative, which was a great gesture. Unfortunately for the Kings, they did not win the lottery and were stuck with the #7 pick. If the Maloofs and KJ really want this to happen, they’re going to need a little more luck when it comes time to complete that 100 Day Plan.

5 thoughts on “Keeping the Kings commands a princely sum

  1. Love the chart. Interesting the selection of seat types. Fans and businesses will have many choices. I get what a loge seat is, but is ledge seating more than what it sounds? It has to be more than just the front row of each deck, right? Is it kind of like the “View Box” seating that they have at AT&T Park?
    I would love to see the cross-section, and maybe compare it to other arenas (both basketball and hockey).

    • @LS – Maybe fans get complementary zip line trips down to the floor. Actually I think these are special ledge seats for the partial third deck so they’re worse than you might think.

  2. Amazing how much these arena costs have gone up. San Jose’s arena cost $165 mill in 1993.

  3. Once again a developer comes with a nice shiny presentation but no word of financing in sight….Typical.

    The financing piece is the key here, forget all the “bells and whistles” as that is relative to the bigger problem of “show me the money”.

    This will fail for the same reason the other proposals failed over the years….No financing plan that makes sense for all parties involved.

    David Taylor is no different than any other developer. “Here is our vision” but when some asks “how is this paid for?” the response always is “Not our problem”.

    Way to go NBA….leaving the Kings in a place where a new arena if it was possible would have been done years ago with no end in sight.

    Too bad the Maloofs won’t have anywhere to move in 1 year. I doubt Samueli will be there to rescue them again….

  4. This table and data illustrates why I believe Sacramento is at such a disadvantage.

    The Kings could move to Kansas City next summer and be in a world-class arena for the 2012-2013 season.

    Or they could move to Anaheim, or Vancouver…

    Point being, all of these places have better arenas than Sac, and those arenas are already built. Whereas in Sac, you are probably gonna operate at a loss in that substandard facility for five years until a new facility is built…if it indeed gets built at all.

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