http://www.sacbee.com/content/opinion/story/13270430p-14112819c.html
Editorial: Arena plan, R.I.P.
Neither team nor politicos have game plan
Published 2:15 am PDT Thursday, July 21, 2005
That sound you don't hear is any continuing discussion of a new arena for the Sacramento Kings.
Earlier this year, developers and a handful of political leaders were talking up a private financing plan to build a new arena. It has been replaced by a deafening silence.
If the Maloof family, which owns the Kings, is personally and actively in conversations with any major political figure, the conversations have escaped us. If any leader in the public or private sector has identified a way to finance a $400 million facility, or even come up with a fraction of the funds, it's the best-kept secret in Sacramento.
Sometimes there is silence because of the rhythm of politics, a lull in the proverbial storm, the summer break that precedes the busy fall. The reason for the complete breakdown in private arena discussions, however, goes much deeper than some conflicts in vacation schedules.
Basically, there no longer appears to be much to talk about. Political leaders, as well as leaders in the development community, seem to have exhausted their list of possible financing ideas. They never could meet the demands of the Maloofs. The Maloofs never countered with an idea of their own - or at least an idea that ever saw the light of day.
The one idea that had some political possibilities has come and seemingly gone, forever. That idea was to rezone for development thousands of acres of land north of Arco Arena and dedicate a fifth of the profits toward a new facility. Not enough landowners were willing to share in the profits to build a $400 million arena, as the Maloofs had requested, but there was maybe $200 million on the table, if the landowners and Kings could craft a reasonable initiative and if the voters were willing to go along.
That $200 million is no longer on the table. All the talk now is to proceed incrementally with development, based on previous plans, absent any profits going to an arena. If the Maloofs really thought that $200 million was important for the team's future in Sacramento, they really blew it. With at least three successive failures at arena financing efforts, one begins to wonder if they really want a new arena, at least in Sacramento. The decreasing political energy being spent on the Kings is increasing the chances that the team will leave. Don't be surprised if news of a possible departure is what breaks the silence.
Editorial: Arena plan, R.I.P.
Neither team nor politicos have game plan
Published 2:15 am PDT Thursday, July 21, 2005
That sound you don't hear is any continuing discussion of a new arena for the Sacramento Kings.
Earlier this year, developers and a handful of political leaders were talking up a private financing plan to build a new arena. It has been replaced by a deafening silence.
If the Maloof family, which owns the Kings, is personally and actively in conversations with any major political figure, the conversations have escaped us. If any leader in the public or private sector has identified a way to finance a $400 million facility, or even come up with a fraction of the funds, it's the best-kept secret in Sacramento.
Sometimes there is silence because of the rhythm of politics, a lull in the proverbial storm, the summer break that precedes the busy fall. The reason for the complete breakdown in private arena discussions, however, goes much deeper than some conflicts in vacation schedules.
Basically, there no longer appears to be much to talk about. Political leaders, as well as leaders in the development community, seem to have exhausted their list of possible financing ideas. They never could meet the demands of the Maloofs. The Maloofs never countered with an idea of their own - or at least an idea that ever saw the light of day.
The one idea that had some political possibilities has come and seemingly gone, forever. That idea was to rezone for development thousands of acres of land north of Arco Arena and dedicate a fifth of the profits toward a new facility. Not enough landowners were willing to share in the profits to build a $400 million arena, as the Maloofs had requested, but there was maybe $200 million on the table, if the landowners and Kings could craft a reasonable initiative and if the voters were willing to go along.
That $200 million is no longer on the table. All the talk now is to proceed incrementally with development, based on previous plans, absent any profits going to an arena. If the Maloofs really thought that $200 million was important for the team's future in Sacramento, they really blew it. With at least three successive failures at arena financing efforts, one begins to wonder if they really want a new arena, at least in Sacramento. The decreasing political energy being spent on the Kings is increasing the chances that the team will leave. Don't be surprised if news of a possible departure is what breaks the silence.
