Kings arena deal dead??
- Thread starter Ryle
- Start date
Twix
Starter
^I also agree with Rowdyone. Especially this part:
I always thought the same thing. Although where I live (Modesto) it's Warriors territory. But I never understood why it's Warriors territory cause we get tons of Kings ads/sponors (McDonalds, Subway, etc) and NONE of Warriors. Kings profit more here than the Warriors. Even our local newspaper cover more on Kings news and we get Sac area channel. But the point is, I too think it should be more of a regional planning to build the new arena.
So Ose drops out and splits the landowners up because he doesn't like the deal. Then he comes up with his own idea? And now we'll see another group of landowners that thinks they are getting the short end of the stick and they'll blow up Ose's deal in retaliation.
There you have it folks. This why nothing ever gets done in this town.
There you have it folks. This why nothing ever gets done in this town.
Ryle
Starter
Twix said:
This was talked about along time ago and was quickly shot down. How do the other counties benefit?? I live Placer County and my money goes to the Kings to pay for my tickets, parking, food, etc... Money that Placer would much rather I spend in their neck of the woods. No County would want to put their neck on the line when they really get no benefit from it. Sac County get's sales tax, property tax(from the arena) and the benefits that local business reap......not too mention name recognition as well.
Only way to do this would be a regional sports commision who participates and receives revenue and blah blah blah.......ain't gonna happen. I'm not really sure why the don't just do the whole zone the land thing and then put a tax on hotels/rental car/airport,etc... Portland did that and it shows up on every rental car and airline ticket when I fly in there. My company pays for it so I don't really care.
LPKingsFan
All-Star
Screw this, I'm running for mayor.
BigWaxer
Starter
The news sucks but nothing to worry about.... yet. If you remember the SF Giants had one foot out the door and one in Florida before they got 100% private financing for PaCBell. I really don't feel the Maloofs want to leave. With that said I bet they could get a city to pay for an arena and pay off the exisiting loan to get the Kings.
It will cost a lot more here then lets say in Dallas or Charlotte. The price for land and construction alone will make it that much more expensive.
The only way to change things is get the politicians out of office this year.
If not, I say let the Kings move up here. YUBA CITY KINGS!!!
It will cost a lot more here then lets say in Dallas or Charlotte. The price for land and construction alone will make it that much more expensive.
The only way to change things is get the politicians out of office this year.
If not, I say let the Kings move up here. YUBA CITY KINGS!!!
B-52
Prospect
This all started with the Sac city council doing that quick vote a few months ago that really made the Maloofs mad. They gave Joe and Gavan the percentage they had to pay without any discussion about it. Now the landowners are split. This is all normal "what do I get and how much" buisness of the folks that have the major cash. The local folks who want this team here are the ones who have to suffer if they leave. I'm flippin sick of it. They need a new facility,and some one needs to step up and get it done!
Ryle
Starter
BigWaxer said:The news sucks but nothing to worry about.... yet. If you remember the SF Giants had one foot out the door and one in Florida before they got 100% private financing for PaCBell. I really don't feel the Maloofs want to leave. With that said I bet they could get a city to pay for an arena and pay off the exisiting loan to get the Kings.
It will cost a lot more here then lets say in Dallas or Charlotte. The price for land and construction alone will make it that much more expensive.
The only way to change things is get the politicians out of office this year.
If not, I say let the Kings move up here. YUBA CITY KINGS!!!
The land is already there and the city owns it.......Land was the major reason why they wanted to stay in Natomas because they already had the land and didn't have to pay for it.
ReinadelosReys
Starter
Maloofs say that they don't want to leave, its never on their mind to leave. They know they've got a good thing here in Sacramento. Joe Maloof is on right now with Mike Lam and he seems to be fustrated with the city (join the club Joe). It appears that they have been going a long with the city for years ( which has been well documented), but when the big fall out happened last year, they had to look for a new plan. The developers plan entered, now its fallen through as well. But now, he says they just have to regroup, huddle up and come up with a new plan.
But that's the thing, the fans don't need a new arena, but the owners want the new arena. Luxury boxes create more money for the owners, but the average fan won't use them. You'll get nicer foods and services, but the fans will be paying more and more for those. If the people of the city have to fund the arena through taxes and others, then they'll be paying for the arena twice. Once through taxes and again through the higher cost of going to the new arena.
It's going to be hard for the Maloofs to convince the public they need the arena when it doesn't benefit them as much as it benefits the owners. It's going to be hard to believe a hardship vibe because Arco doesn't make as much moola as newer arenas when the ownership has a Casino. They, the Maloofs, don't want to be treated differently, but thats a bit silly isn't it?
I'm more curious as to why people backed out of the Natamos deal.
ReinadelosReys
Starter
But thats the thing, the Maloofs the owners of the Kings and the Maloofs the owners of the Palms are two different entities. As I was taking about in the above post, Joe Maloofs was just on the radio. He was asked about how is an arena going to be put together financially. He said that they were going to contribute whatever any other team in this market size (i.e. The Memphis, San Antonio's of the world) contributes. That it doesn't make sense, no is it fair for them to be at a disadvantage (compared to other teams) when it comes to financing an arena.
The Maloofs have money, no doubt about it. But they didn't exactly get that money being dumb businessmen.
I have faith that a deal will get done. It might just be at the 11th hour, as it has been done perviously, but it will get done.
The Maloofs have money, no doubt about it. But they didn't exactly get that money being dumb businessmen.
I have faith that a deal will get done. It might just be at the 11th hour, as it has been done perviously, but it will get done.
Bricklayer
Don't Make Me Use The Bat
swisshh said:
Ah, but there you are wrong, for two reasons:
1) The fans DO need a new arena, because without it their team goes *poof*
2) The fans AND owners need a new arena, because without the money generated by a new arena, the lure of top flight facilities etc. the team cannot afford or attract top flight players. See Clippers, Los Angeles for the end result of cheapness. Its a very simple supply and demand system -- if a star player can earn $10 mil a season somewhere else, then you have to pay one $10 mil a season to come to your city. If you can't pay him $10 mil, he goes elsewhere. The economics of the game dictate that you always have to keep up with the Joneses or you eventually won't be able to afford to field a competitive team.
ReinadelosReys
Starter
Its not about the arena selling out, its about it falling down. Arco was built on the cheap and has been feeling the after affects of that fact for--well since it was built. All we see is the basketball court, but if you dig around a bit and try to listen to things you hear about its major structural deficiences.
GoGoGadget
All-Star
swisshh said:
Sure, a new arena will probably be more expensive (I can't imagine that the difference in cost per ticket would be that substantial), but a few thousand more seats would take me off the season ticket waiting list and allow me to actually go to more games to support my team (what a novel idea!).
Not to mention that, oh yeah, there will be a team in Sacramento to support.
You can't possibly think that the Maloofs are the ONLY people that would benefit from a new arena.
LPKingsFan
All-Star
Whatever brave, noble Kings fan poisoned Kobe's burger should arrange for an accidental fire to happen at Arco, then we could have insurance to pay for it.
Haha.
Haha.
ReinadelosReys
Starter
LPKingsFan said:
There was a tornado (albiet a very weak one--a 0 on the scale, but hey is Sacramento, we're not used to it), just less than a mile away from the arena. The though did pass through my mind just what would happen if damage was done.
Rockmeister
All-Star
Can you explain why you feel this will get done?JB_kings said:
LPKingsFan
All-Star
ReinadelosReys said:
Yeah, maybe one will conveniently come back during the summer.
Hey, what am I saying? I love ARCO. The Kings do need a new home though.
ReinadelosReys
Starter
LPKingsFan said:
I do too. The place was made for basketball, the athmosphere is awesome, truly not a bad seat in the house, but it really is falling apart. In 5 years, don't know what will be left.
LPKingsFan
All-Star
As long as they model the ARCO design, get some good engineers to make sure the atmosphere and the acoustics are the same, flash things up a bit and add some $$$ generating luxury boxes so we can sign some nice FAs in the offseason, it's all good with me.
Unfortunately, I am not mayor... yet...
Unfortunately, I am not mayor... yet...
Brick,
1: That means the fans need to kiss the owners butt, not that they need a new arena. That's just the whole "holding the city hostage" thing.
2: Players want to come here to win already. The Maloofs can afford them, but they don't want to deal with the luxury tax. Do you think extra arena revenue would make them pay the luxury tax? I don't think it would.
1: That means the fans need to kiss the owners butt, not that they need a new arena. That's just the whole "holding the city hostage" thing.
2: Players want to come here to win already. The Maloofs can afford them, but they don't want to deal with the luxury tax. Do you think extra arena revenue would make them pay the luxury tax? I don't think it would.
KP
Starter
Supposedly they had Osha and structural engineers that have put the life expectancy at about 5 years, I know there has been some structural work done already behind the scenes to maintain Arco. If it's going to be unsafe as soon as 5 years you'd think they need to break ground on the new arena as soon as possible.ReinadelosReys said:
Bricklayer
Don't Make Me Use The Bat
swisshh said:
1) that means the fans need to HELP the owners -- that its a partnership. Fans pull out of the partnership, the owners are 100% within their rights to go find a more willing partner
2) I think it would. The Maloofs lose money because Sacramento is just about the worst money-generating town in the league right now. Crappy arena. Crappy corporate base. And yet they have an above average payroll. Give them the aability to generate more revenue, the purse strings loosen back up.
BigWaxer
Starter
Bricklayer said:
I would agree with #1 Crappy arena with few luxury boxes compared to other venues. I would say however our coporate base isn't as bad as what the media says it is. The Sacramento area has a nice base of large/medium/upstart companies. In fact the NoCal/Sacto area is still one of the stronger economies in the US right now.
Off hand and Western conf teams only I say within a 45 mile radius of Sacramento we have a larger corporate base then, Memphis, Minn, Portland, Utah and not sure about these but possibly NO and Denver.
Ryle
Starter
Ryle said:
I wanted to revive this thread based on some info I got about the Kansas City Arena. Here is a little snippet I got from the arena websitse:
"Fortunately, there is no general tax increase associated with the new downtown arena. Kansas City Question 1 authorizes the City to increase tourist-related fees on car rentals and hotel rooms that are dedicated to developing and constructing the new arena.
Most cities impose car rental and hotel room fees to fund convention and entertainment facilities. Kansas Citians pay those fees when they travel to other cities and visitors will pay our fees when they come to Kansas City. The Greater Kansas City Convention & Visitors Bureau, as well as the Hotel/Motel Association have endorsed Question 1."
I have no idea why this approach has never been brought up by the geniuses in Sac government.
