rainmaker
Hall of Famer
Well in fairness to the Maloofs, spending $20-$30M on resigning Thornton/Dally and going after FA's is different than writing a $150M check for an arena.
Are the Maloofs Still on Grant's Show Today?
- Thread starter KingsFanatic
- Start date
Well in fairness to the Maloofs, spending $20-$30M on resigning Thornton/Dally and going after FA's is different than writing a $150M check for an arena.
Glenn
Hall of Famer
Yes, there is a "we are broke" that means they don't have $200 mil and the other "we will spend money" that has to do with FAs. Just a duplication of what you said but it explains the two comments which might have made more sense if taken in context.
macadocious
Starter
Level headed people knew this. The majority of the public are idiots and had no idea. They thought the Maloofs were trying to steal the team away, or something like that. It would have curtailed a lot of the issue with how they were treated in the public.
Larry David
Starter
I think this has been a big problem.
The city is charged with finding a way to fund this. After looking for any good Samaritan donations private or public (Here We Build) and other sources of revenue, then the public sector has to find someway to fund the gap.
The Maloofs approach of – bring us the plan and we’ll approve and/or start negotiations – has hurt the efforts because the costs (design) and resources (construction contribution and/or rent) have remained undefined. It’s like trying to build a house without knowing your costs and providing insufficient details to a lender you need to secure funding.
As Kenna pointed out, the Anaheim lease helps a lot as does the fact that we basically can work out reasonable design and rent with the NBA directly. Or as somebody pointed out, maybe Brick, we might be dealing directly with Dad.
But it would certainly expedite this process for the Maloofs to be up front. Here is what we will contribute to the construction and here is what we’ll pay in rent. And we want x% of the parking and naming rights. Have those fights … then let KJ work with defined perimeters to secure the necessary funding. That’s what needs to happen.
I’ll give you an example. I doesn’t appear the Maloofs intend to pay any of the up front construction costs … just rent. That’s fine pay rent for 44 nights a year. It makes it harder for some of the pubic to sign off, but that’s a legitimate position. But, because it was in the earlier proposals, I think the Maloofs also assume they are going to book and control the other events and take a cut of that.
At some point, KJ / Taylor might say – hey, this isn’t looking like it will pencil out. But they city can earn more money, or more likely company X will pay more than the Maloofs want to pay for the non-Kings events, so we have to go with them. At which point, the Maloofs could balk. And the city counters with the Anaheim lease and says, you weren’t going to get these events there, why are you entitled to them here. Now, we’ve got to go to Dad. In the mean time, the 10 months are a wasting.
And you know there will be fights about thinks like parking and naming rights – which could throw the funding for the project to doable to bye-bye.
That’s why KJ is talking about the Maloofs having to do this differently. If the NBA will let us deal directly with them … fine. But if you assume that the city has to make this pencil out, next, open negotiations with the Maloofs, and then reconfigure to compensate for the changes … as C-Webb said to Kahn “Good luck.”
Glenn
Hall of Famer
Points well made. I think the Maloofs will be more involved in the construction than this rebound position a lot of fans are taking. It will depend on what they have to offer. The more they offer, the more say they have. I can't imagine George NOT being involved and that's a good thing. It is also a good thing that the NBA is bird dogging all of this. ICON is a huge plus of course.
I don't understand all the possibilities of funding like what State or Federal funds can be had. I'll assume none. Kennadog might be able to help here. I hope they go for something bigger than minimum even if minimum satisfies the NBA and is expandable as the league's standards change.
The reason being:
I DO see the arena as the one anchor item to a great new development that might actually make this area a tourist attraction of sorts. I think the more likely this attracts tourists, the more willing area counties will be to take part if only lending their name behind a large bond issue. If Sacramento becomes more than s start off point to visiting San Francisco, Tahoe, and wine country, the area might get more excited.
It's a fact a lot of people need jobs and this area needs industry. I believe the weakness of depending on simply being a government town has been exposed.
Funding seems sooooo iffy to me.
I don't understand all the possibilities of funding like what State or Federal funds can be had. I'll assume none. Kennadog might be able to help here. I hope they go for something bigger than minimum even if minimum satisfies the NBA and is expandable as the league's standards change.
The reason being:
I DO see the arena as the one anchor item to a great new development that might actually make this area a tourist attraction of sorts. I think the more likely this attracts tourists, the more willing area counties will be to take part if only lending their name behind a large bond issue. If Sacramento becomes more than s start off point to visiting San Francisco, Tahoe, and wine country, the area might get more excited.
It's a fact a lot of people need jobs and this area needs industry. I believe the weakness of depending on simply being a government town has been exposed.
Funding seems sooooo iffy to me.
Last edited:
=LarryLegend=
Starter
Conseco field house and AT&T center were built for around 186mil, AT&T I think was finished in 2002. 180-200 mil the city can't build it for that? If comcast could contribute 30-40 for naming rights/tv deal, maloof come up with 60ish and then taxing parking, airport, hotels and events/games I just don't understand why it has not been done already. It seems like Sacrameto is trying to build 300-450mil arena does it really cost that in 8-9years?
Gavin said in a recent interview they don't need a "staple center type arena" so wtf?
Gavin said in a recent interview they don't need a "staple center type arena" so wtf?
When this arena plan is finalized, I think it's gonna be interesting to compare what MSE got, what they asked for in the past, and what Anaheim offered.
In all likelihood, we're not talking about a gag order. We're talking about a decision between potential business partners not to discuss their dealings publicly. Which is par for the course.
The NBA also probably told them to shut up, one way or the other. It had been a while since we'd heard anything publicly from the Maloofs on the arena discussions, other than the typical "we're working with Taylor/ICON" stuff.
Livinthedream
All-Star
Real estate and construction costs vary by state and city.
Trueblood
Bench
The problem is that Conseco was built in the 90's and ATT Center was finished in 2002. Construction costs were much lower in those days. Things like steel and glass cost much more plus you have the California angle. Those buildings will cost anywhere from $350 to $400 million in downtown Sacramento if they break ground in a year.
