Looks like AEG might get involved:

[bajaden]

I haven't seen this article posted, so I thought it might be of interest.

http://www.sacbee.com/2011/09/24/3934014/la-arena-operator-acknowledges.html

 

[Mike0476]

I haven't seen this article posted, so I thought it might be of interest.

http://www.sacbee.com/2011/09/24/3934014/la-arena-operator-acknowledges.html

Thanks for posting this. I've been busy today and just now getting around to reading the article and the comments.

Those CAVE people are so angry.

I watched Moneyball last night. A very good movie on the 2002 Oakland A's.

I hope when it is all said and done we will see a movie on how we as a community came together to help build a new arena and saved our Sacramento Kings.

 

[bajaden]

Thanks for posting this. I've been busy today and just now getting around to reading the article and the comments.

Those CAVE people are so angry.

I watched Moneyball last night. A very good movie on the 2002 Oakland A's.

I hope when it is all said and done we will see a movie on how we as a community came together to help build a new arena and saved our Sacramento Kings.

Well if they do, you would certainly be one of the stars...

 

[Capt. Factorial]

Well if they do, you would certainly be one of the stars...

Mike has done a ton of work, just so much countless stuff in our fight to build an arena in Sacramento and keep the Kings where they belong. He would definitely deserve it!

As for the news about AEG - I don't think it's terribly unexpected, but it's quite nice to hear them come out publicly and state their interest. Just one more funding source, one more hurdle cleared if the city can come to an agreement with them. Every week we're inching closer to getting this done!

 

[Livinthedream]

Mike has done a ton of work, just so much countless stuff in our fight to build an arena in Sacramento and keep the Kings where they belong. He would definitely deserve it!

As for the news about AEG - I don't think it's terribly unexpected, but it's quite nice to hear them come out publicly and state their interest. Just one more funding source, one more hurdle cleared if the city can come to an agreement with them. Every week we're inching closer to getting this done!

The good thing about AEG coming out and making a statement is that they would not do this unless they thought it was going to happen. This public statement might also help with negotiations on some other fronts as well, just as the Ron Burkle declaration helped in negotiating with the NBA.

 

[Brac-o-matic]

AEG. David Taylor. ICON. It's exciting to see that the city is continuing to work with very reputable names, who have a track record of success.

 

[kennadog]

AEG. David Taylor. ICON. It's exciting to see that the city is continuing to work with very reputable names, who have a track record of success.

And since the first time I heard the ICON rep at the city council meeting last spring, I started to get a glimmer of hope. Having solid people, with the right kind of knowledge, experience and general expertise is exactly what Sacramento should have gone to years ago. AEG and ICON are both international companies experienced with developing and operating arenas.

 

[Warhawk]

Mike has done a ton of work, just so much countless stuff in our fight to build an arena in Sacramento and keep the Kings where they belong. He would definitely deserve it!

As for the news about AEG - I don't think it's terribly unexpected, but it's quite nice to hear them come out publicly and state their interest. Just one more funding source, one more hurdle cleared if the city can come to an agreement with them. Every week we're inching closer to getting this done!

I agre completely with all of this.

 

[Trueblood]

Great news. I've been hoping that AEG or SMG could be involved for a couple years now. Nothing against the Maloofs but MSE just doesn't have the connections that those guys have. With user fees being a key element to funding the building, we're going to need as many events possible. Not only that but they have to be events that will draw a packed house and that's where AEG's connections will come in handy. Anybody can schedule the dog show or an HS graduation but AEG can guarantee the big shows.

The only drawback is that the article mentioned that AEG invested $55 million in the Sprint Center. The problem is that they own and operate that building. In Sacramento, they will just operate the building with the profits going to the city. Therefore, I don't think they'll invest as much here as they did in KC. I hope I'm wrong but I'm thinking the investment won't be as much. They may provide some up front cash where we fall short on bonds and what not but they're going to want that money paid back.

 

[bajaden]

Great news. I've been hoping that AEG or SMG could be involved for a couple years now. Nothing against the Maloofs but MSE just doesn't have the connections that those guys have. With user fees being a key element to funding the building, we're going to need as many events possible. Not only that but they have to be events that will draw a packed house and that's where AEG's connections will come in handy. Anybody can schedule the dog show or an HS graduation but AEG can guarantee the big shows.

The only drawback is that the article mentioned that AEG invested $55 million in the Sprint Center. The problem is that they own and operate that building. In Sacramento, they will just operate the building with the profits going to the city. Therefore, I don't think they'll invest as much here as they did in KC. I hope I'm wrong but I'm thinking the investment won't be as much. They may provide some up front cash where we fall short on bonds and what not but they're going to want that money paid back.

At this point we don't know what kind of deal is being talked about. They could come up with a deal similar to the one in KC where most of the profits go to the operator, and after a set percentage, the rest go to the city. Obviously AEG isn't going to get involved just for the fun of it. Remember that the city will profit from taxes that result from the new arena.

 

[Section 101]

Great news. I've been hoping that AEG or SMG could be involved for a couple years now. Nothing against the Maloofs but MSE just doesn't have the connections that those guys have. With user fees being a key element to funding the building, we're going to need as many events possible. Not only that but they have to be events that will draw a packed house and that's where AEG's connections will come in handy. Anybody can schedule the dog show or an HS graduation but AEG can guarantee the big shows.

The only drawback is that the article mentioned that AEG invested $55 million in the Sprint Center. The problem is that they own and operate that building. In Sacramento, they will just operate the building with the profits going to the city. Therefore, I don't think they'll invest as much here as they did in KC. I hope I'm wrong but I'm thinking the investment won't be as much. They may provide some up front cash where we fall short on bonds and what not but they're going to want that money paid back.

They do not own the building. The city owns it. AEG invested in it. They get money back on their investment.

 

[Trueblood]

They do not own the building. The city owns it. AEG invested in it. They get money back on their investment.

Oh ok, my bad. It's more a matter of semantics. While they don't actually "own" the Sprint Center, there is no anchor tenant so they have no scheduling conflicts and have an easy time getting events scheduled on favorable dates. They've said on a few occasions that since the building is profitable, they would rather not risk things by bringing in an NBA or NHL tenant.

Here, the Kings rent money will go towards paying off the building so that's 43 dates plus playoffs that AEG won't be able to schedule for the big acts so it's possible that we aren't looking at the same type of investment. Hopefully I'm wrong. Regardless, it's a good thing that they're involved though. At the end of the day, we need the building full as much as possible since user fees are going pay off a big chunk of the bonds and AEG is the group to make sure a building is full.

 

[bajaden]

Oh ok, my bad. It's more a matter of semantics. While they don't actually "own" the Sprint Center, there is no anchor tenant so they have no scheduling conflicts and have an easy time getting events scheduled on favorable dates. They've said on a few occasions that since the building is profitable, they would rather not risk things by bringing in an NBA or NHL tenant.

Here, the Kings rent money will go towards paying off the building so that's 43 dates plus playoffs that AEG won't be able to schedule for the big acts so it's possible that we aren't looking at the same type of investment. Hopefully I'm wrong. Regardless, it's a good thing that they're involved though. At the end of the day, we need the building full as much as possible since user fees are going pay off a big chunk of the bonds and AEG is the group to make sure a building is full.

I guess another way of looking at it is that the city gets 43 days and the operator gets 322 days. I'd be curious to know just how many days the KC arena is booked.