http://www.sacbee.com/351/story/88274.html
Stern touts fund plan
NBA chief talks up a statewide arena agency, visits the governor and county officials.
By Terri Hardy and Kevin Yamamura - Bee Staff Writers
Last Updated 12:01 am PST Wednesday, December 6, 2006
NBA Commissioner David Stern emerged from Gov. Arnold Schwarzenegger's storied smoking tent Tuesday fresh from a 30-minute chat about building a new arena for the Sacramento Kings.
It was the second and final day of Stern's getting-to-know-you-Sacramento tour, a breakneck schedule of meetings with city, county and other civic leaders. The commissioner stopped to talk with reporters, waving the souvenir status symbol of visiting dignitaries.
"Here's my cigar," Stern said. "Well, I didn't smoke it yet, but I got it."
Stern said he didn't ask for, or receive, any commitments from the governor. But they agreed to stay in touch.
"It was a very cordial meeting, and if there's a potential role where he can be helpful, we'd certainly like to know about it," Stern said. "We just wanted to tell him what the situation was. And we said there may be local options, there may be county options, there may be multicounty options, there may be state options."
Darrell Ng, Schwarzenegger's deputy press secretary, said that with four NBA teams in California, the governor has an interest in the matter. However, he said, "the governor doesn't intend to get involved in the issue."
"There was no request for financing," Ng said, "but the governor encouraged him to get creative and find a way to make it work."
After relations soured between the Maloof family, the owners of the Sacramento Kings, and the city and county negotiators trying to hammer out an arena deal, Stern was asked by the team owners to intervene. For the first time, Stern has taken on the role of lead negotiator in an arena effort.
Since his arrival, Stern has said he has no preconceived notions or plans -- or even a deadline. But in meetings he has repeatedly brought up the idea of a statewide authority to finance California sports venues.
He's also hired John Moag, of Moag & Company, a sports investment banking and consulting firm. Moag also is the former chairman of the Maryland Stadium Authority.
The Stadium Authority uses Maryland state revenue -- including tax-exempt bonds and lottery proceeds -- to buy land and construct new facilities. It built Oriole Park and nearby Ravens Stadium in Baltimore. Moag himself is credited with leading the effort that brought the Cleveland Browns to Baltimore in 1996.
Moag will stay in town for two more weeks for more meetings.
Also on Tuesday, Stern met with Angelo K. Tsakopoulos, and other top officials from Tsakopoulos' company, AKT -- the largest land development company in Sacramento. Eleni Tsakopoulos-Kounalakis, president of AKT Development, said Stern seems to be a consummate problem solver, and "if anyone can find a solution, he can."
The Tsakopoulos family has been involved in previous arena funding attempts, which would not have required taxpayer money, just zoning approvals.
"We've always been willing to do what we can to help (in the arena effort); that has not changed," Tsakopoulos-Kounalakis said. "But we believe it's up to the elected leadership to take the lead, if a solution is to be found."
Early Tuesday morning, Stern met with Sacramento County officials, as he had Monday with their city counterparts.
Supervisor-elect Jimmie Yee sat in on Tuesday's meeting and said there was no specific plan broached, and it appeared Stern was simply gathering facts.
Yee and Tsakopoulos-Kounalakis both said Stern mentioned a statewide financing authority as a possible funding method.
Yee said he wasn't sure whether that method would fly in California. Usually, he said, that option is used in states with one predominant city and only one professional sports team of its kind.
Stern said he didn't raise the idea of a statewide solution with the governor because "nothing was formed enough to even suggest it." He said he believes the solution to the arena question will "come from the people who will benefit from having a multipurpose arena, and that's really, I'd say, the city, the county and the counties around Sacramento County."
Even though voters resoundingly defeated Measures Q and R, which proposed building an arena with a quarter-cent sales tax increase, Stern said he believes voters haven't ruled out using public funds for an arena project.
"Whoever you talk to, whether it's the county board, the city, the governor, everyone would like to see the Kings remain in Sacramento," Stern said. "We just understand that it's our obligation to see whether there's a functioning, workable plan to do that."
About the writer: The Bee's Terri Hardy can be reached at (916) 321-1073 or thardy@sacbee.com.
Stern touts fund plan
NBA chief talks up a statewide arena agency, visits the governor and county officials.
By Terri Hardy and Kevin Yamamura - Bee Staff Writers
Last Updated 12:01 am PST Wednesday, December 6, 2006
NBA Commissioner David Stern emerged from Gov. Arnold Schwarzenegger's storied smoking tent Tuesday fresh from a 30-minute chat about building a new arena for the Sacramento Kings.
It was the second and final day of Stern's getting-to-know-you-Sacramento tour, a breakneck schedule of meetings with city, county and other civic leaders. The commissioner stopped to talk with reporters, waving the souvenir status symbol of visiting dignitaries.
"Here's my cigar," Stern said. "Well, I didn't smoke it yet, but I got it."
Stern said he didn't ask for, or receive, any commitments from the governor. But they agreed to stay in touch.
"It was a very cordial meeting, and if there's a potential role where he can be helpful, we'd certainly like to know about it," Stern said. "We just wanted to tell him what the situation was. And we said there may be local options, there may be county options, there may be multicounty options, there may be state options."
Darrell Ng, Schwarzenegger's deputy press secretary, said that with four NBA teams in California, the governor has an interest in the matter. However, he said, "the governor doesn't intend to get involved in the issue."
"There was no request for financing," Ng said, "but the governor encouraged him to get creative and find a way to make it work."
After relations soured between the Maloof family, the owners of the Sacramento Kings, and the city and county negotiators trying to hammer out an arena deal, Stern was asked by the team owners to intervene. For the first time, Stern has taken on the role of lead negotiator in an arena effort.
Since his arrival, Stern has said he has no preconceived notions or plans -- or even a deadline. But in meetings he has repeatedly brought up the idea of a statewide authority to finance California sports venues.
He's also hired John Moag, of Moag & Company, a sports investment banking and consulting firm. Moag also is the former chairman of the Maryland Stadium Authority.
The Stadium Authority uses Maryland state revenue -- including tax-exempt bonds and lottery proceeds -- to buy land and construct new facilities. It built Oriole Park and nearby Ravens Stadium in Baltimore. Moag himself is credited with leading the effort that brought the Cleveland Browns to Baltimore in 1996.
Moag will stay in town for two more weeks for more meetings.
Also on Tuesday, Stern met with Angelo K. Tsakopoulos, and other top officials from Tsakopoulos' company, AKT -- the largest land development company in Sacramento. Eleni Tsakopoulos-Kounalakis, president of AKT Development, said Stern seems to be a consummate problem solver, and "if anyone can find a solution, he can."
The Tsakopoulos family has been involved in previous arena funding attempts, which would not have required taxpayer money, just zoning approvals.
"We've always been willing to do what we can to help (in the arena effort); that has not changed," Tsakopoulos-Kounalakis said. "But we believe it's up to the elected leadership to take the lead, if a solution is to be found."
Early Tuesday morning, Stern met with Sacramento County officials, as he had Monday with their city counterparts.
Supervisor-elect Jimmie Yee sat in on Tuesday's meeting and said there was no specific plan broached, and it appeared Stern was simply gathering facts.
Yee and Tsakopoulos-Kounalakis both said Stern mentioned a statewide financing authority as a possible funding method.
Yee said he wasn't sure whether that method would fly in California. Usually, he said, that option is used in states with one predominant city and only one professional sports team of its kind.
Stern said he didn't raise the idea of a statewide solution with the governor because "nothing was formed enough to even suggest it." He said he believes the solution to the arena question will "come from the people who will benefit from having a multipurpose arena, and that's really, I'd say, the city, the county and the counties around Sacramento County."
Even though voters resoundingly defeated Measures Q and R, which proposed building an arena with a quarter-cent sales tax increase, Stern said he believes voters haven't ruled out using public funds for an arena project.
"Whoever you talk to, whether it's the county board, the city, the governor, everyone would like to see the Kings remain in Sacramento," Stern said. "We just understand that it's our obligation to see whether there's a functioning, workable plan to do that."
About the writer: The Bee's Terri Hardy can be reached at (916) 321-1073 or thardy@sacbee.com.