Sacramento arena may not be a done deal
Mar 29, 2012, 6:04 PM | Updated: Mar 30, 2012, 9:26 am
When funding seemed to come together at the last minute
for the Sacramento Kings, SuperSonics fans begrudgingly
moved on, looking to the other possibilities that a future
arena might bring.
Things aren’t always as they seem, however, as the Los Angeles Times reports the owners of
the Kings, Joe, Gavin and George Maloof, may not be as
thrilled about committing to participating in the new
entertainment and sports complex in the city.
Sacramento officials are working to address the questions
and the concerns of the Maloofs, many of which involve the
continued and possibly growing expense of building the new
complex, like environmental requirements, legal expenses,
and other costs.
Documents reviewed by the LA Times reveal that the owners
aren’t firm on the agreement that would keep the Kings in
Sacramento.
When 710 ESPN’s Kevin
Calabro Show asked Seattle arena investor Chris Hansen
if he’d been following the speculation surrounding the
fate of the Kings, or of other teams that may be on the
fence for financing, he brushed it off.
Hansen said he’s not hoping for other franchises to fail,
but he wants Seattle to be ready when the opportunity to
bring an NBA team back to the city presents itself.
“My job is just to get an arena deal in Seattle and for us
to just be standing there and ready when the next
opportunity comes.”
The arena panel could issue its recommendations for the
Seattle facility as early as April 4, the next time it’s
scheduled to meet.
Hansen proposed $290 million in private investment toward
the construction of a new arena that would cost between
$450 and $500 million. Hansen’s group would also be
responsible for the purchase of an NBA franchise and
finding a partner interested in bringing an NHL franchise
to Seattle.
The public financing component of the proposal would be
capped at $200 million. Hansen has said he wouldn’t be the
owner of the NHL franchise.
Hansen’s plans represent the first steps toward solving
the arena problem that was behind the decision to move the
SuperSonics to Oklahoma City following the 2007-2008
NBA season after 41 years in Seattle.
