NBA releases details of arena plan

[kennadog]

I didn't find the Powerpoint very useful - lots of tables with no context or explanation.

The PDF (53 whole MB!) is about 20% downloaded...started about 40 minutes ago on my high-bandwidth work connection. I think the Cal Expo server is not quite up to the task.

The powerpoint was the independent economist, I think. So the PP was probably supported by what ever he said. I looked at it mostly for the points made on the first page and the timeline of the different phases, as well as the estimated square footages at the end.

I couldn't take time at work to download the PDF doc either. I'll try this weekend sometime.

 

[Section 101]

You guys keep asking the same tired questions over and over. At what point does the repeated comments by the Maloofs and the NBA that everyone wants to keep the team in Sacramento sink in?

They KNOW it will take a few years to build. This isn't something that will be done for next season. They have been working for this for over a decade now knowing this day was coming. The arena isn't going to fall over tomorrow, but is FUNCTIONALLY obsolete. Having a plan to move forward and get this done in a few years will keep them here.

Yes, I know they have been saying that. And I do think that is what they want. But what I want to know is what is being put down in ink, meaning a binding agreement. That is when we know for sure where everything stands.

 

[Capt. Factorial]

The whole idea of the Maloofs not wanting to stay is without ANY basis in fact, except for the blatherings of some of the Bee staff. I predict that, even after ground has broken up until the day the ticket takers scan the first tickets for opening night in the NEW arena, the Bee will continue to find ways to cast doubt on the whole situation.

November 4, 2014
Sacramento, CA
Chick Inlityl, Sacramento Bee Sports Reporter

Tonight at 7 PM, American River Arena will finally open its doors as the Sacramento Kings play host to the San Jose Hornets in the first major event scheduled on the site of the former Cal Expo. Many Sacramentans, having been patient through over a decade of arena proposals to replace the dilapidated Arco Arena, are breathing sighs of relief tonight that their basketball team (the area's first major professional sports franchise) has a new home and is now safe from the specter of relocation, and look forward to a season where many NBA analysts believe Sacramento can make a deep playoff run for the first time since the days of Chris Webber.

Questions remain, however, about the economic viability of the Kings franchise in Sacramento. Cost overruns and bad weather have resulted in completion of only 85% of the projected first phase of the development plan, which was to be finished by the end of the year. Delays in construction of housing and hotel space will result in delays in return on capital investment, leading some to speculate that the development plan, already in full swing in a rising economy, may need to be scrapped altogether. Fan support for the Kings has been somewhat eroded by the arrival of the Sacramento Athletics in 2011, and American River Arena has so far sold out only 37 of its 42 dates for its inaugural season. While San Jose and Kansas City have already landed NBA franchises, Anaheim and Las Vegas continue to search for teams that are willing to relocate to their large sports-hungry markets. When asked about the possibility that the Kings might yet relocate despite the new arena, Joe Maloof angrily declined to comment, adding fuel to speculation that the Maloofs may still intend to move the Kings southward, and stick Sacramento with the ever-increasing bill for the Cal Expo development project...

 

[Section 101]

Did you read Sam Amick's comment about what the Maloofs have paid Moag for this work, so far? $2 million.

If this moves forward, this is the least of my worries right now. The NBA is driving this deal. Do you really think the NBA is going to commit to a deal that's workable and then just let the team leave Cal Expo holding the bag?

As to future issues, that we could only imagine now, I actually think the region could support a multi-use arena with or without the Kings. There are cities with arenas and no pro-sports team. Kansas City for one. The new arena is going to be able to book a lot more events and hopefully they'll build an arena that can be remodeled in the future, unlike Arco.

I really get tired of all the pessimism. Where are the visionaries who take a chance? This will create thousands of jobs for years, during construction and more jobs in the retail, entertainment and office space. It will provide affordable rental housing and condos close to downtown and right on the American River.

Yes, the economy is down right now. That could actually benefit the construction with lower prices. It's not the time to sit in the rubble and cry and be fearful. This is the time to seize an opportunity to build something that can be better than ever.

There are no forever, ironclad guarantees in life. If anyone is waiting for one, they are assured of one thing...disappointment.

Yes I saw they are paying him. They are also paying for the studies too. Which shows good faith. But that is money already spent, it does't factor into the deal going forward.

But that is my point on the NBA driving this deal. At what point is the marriage consimated between the NBA and Cal Expo? Next month? Next year? Until that point, the specualtion of the team moving will continue.

Hey, I'd love for them to include a multi purpose outdoor stadium too instead of the horse track. Bring in baseball and football too. Instead of letting the bay area take our team, take 2 of theirs instead !! How's that for vison?

I also don't buy the traffic argument. There is a traffic problem now which everyone agrees. The problem is the stupid 80 curve that people cant drive thru at 55. Since the curve is at cal expo there would be increased traffic to the games, but leaving would be fine since your leaving from the congestion spot.

While they are at it, since Obama is in the spending mood get some of the bailout money for the project.

 

[VF21]

November 4, 2014
Sacramento, CA
Chick Inlityl, Sacramento Bee Sports Reporter

Tonight at 7 PM, American River Arena will finally open its doors as the Sacramento Kings play host to the San Jose Hornets in the first major event scheduled on the site of the former Cal Expo. Many Sacramentans, having been patient through over a decade of arena proposals to replace the dilapidated Arco Arena, are breathing sighs of relief tonight that their basketball team (the area's first major professional sports franchise) has a new home and is now safe from the specter of relocation, and look forward to a season where many NBA analysts believe Sacramento can make a deep playoff run for the first time since the days of Chris Webber.

Questions remain, however, about the economic viability of the Kings franchise in Sacramento. Cost overruns and bad weather have resulted in completion of only 85% of the projected first phase of the development plan, which was to be finished by the end of the year. Delays in construction of housing and hotel space will result in delays in return on capital investment, leading some to speculate that the development plan, already in full swing in a rising economy, may need to be scrapped altogether. Fan support for the Kings has been somewhat eroded by the arrival of the Sacramento Athletics in 2011, and American River Arena has so far sold out only 37 of its 42 dates for its inaugural season. While San Jose and Kansas City have already landed NBA franchises, Anaheim and Las Vegas continue to search for teams that are willing to relocate to their large sports-hungry markets. When asked about the possibility that the Kings might yet relocate despite the new arena, Joe Maloof angrily declined to comment, adding fuel to speculation that the Maloofs may still intend to move the Kings southward, and stick Sacramento with the ever-increasing bill for the Cal Expo development project...

Bookmark this!

 

[Ryan]

http://www.calexpo.com/PDFs/nba/CalExpo Presentation.pdf

 

[VF21]

But that is my point on the NBA driving this deal. At what point is the marriage consimated between the NBA and Cal Expo? Next month? Next year? Until that point, the specualtion of the team moving will continue.

Speculation would be one thing. Constantly attempting to stir the pot is totally different. If you want to continue to find reasons to doubt the Maloofs, that's entirely up to you. But don't expect a lot of us around here to buy into it... We've figured out long ago that the Bee's description of the emperor's new clothes isn't exactly spot on.

 

[Section 101]

Speculation would be one thing. Constantly attempting to stir the pot is totally different. If you want to continue to find reasons to doubt the Maloofs, that's entirely up to you. But don't expect a lot of us around here to buy into it... We've figured out long ago that the Bee's description of the emperor's new clothes isn't exactly spot on.

Show in any of my posts where I ever doubted the Maloofs. I just want something in writing for the commitment, not their word. And with all this new news I want to hear something from them.

Somethings I found interesting from the presentation. The arena would be in the corner by Ethan and Expo. The sq ft is 800,000. Arco is 440,00 sq ft. The cost of the entertainment portion seemed low, at least compared to the hotels etc.

 

[VF21]

"I just want something in writing for the commitment, not their word." Sorry if I'm misunderstanding you, but that certainly sounds like you doubt the integrity of the Maloofs.

At this point, I suspect we're arguing semantics more than anything else. Have a nice evening...it's almost game time!~

GO KINGS!!!

 

[kennadog]

This is far too early to put anything in writing. A lot more work is going to have to go into this, before they can come up with actual estimates based on actual plans and specs related to site improvements, structures and soft costs. Only then, will they have a true picture of what the real costs are likely to be, thus determining if they can get financing favorable enough for them to proceed. I'm sure they will be negotiating items along the way, but neither side is going to be committing themselves in writing to specifics based on such little information.

They still don't know if it's even going to be a financially feasible project yet. They just have a feasible plan for what they'd like to see happen, a timeline and a rough estimate of costs and financing.

My experience with projects is that there can be a lot of changes and adjustments between the early predevelopment stage and closing of the financing/ground-breaking. It would be like asking you to sign a thirty-year lease on a condo before you even know what it will look like, what amenities it will have, what upgrades (or downgrades) it will have, or how much it's going to cost you every month. Would you sign that?

 

[Section 101]

"I just want something in writing for the commitment, not their word." Sorry if I'm misunderstanding you, but that certainly sounds like you doubt the integrity of the Maloofs.

At this point, I suspect we're arguing semantics more than anything else. Have a nice evening...it's almost game time!~

GO KINGS!!!

And they have been saying it for almost 10 years. But there comes a point if nothing continues to happen that they will move on. I don't blame the Maloofs. I blame the city council and others.

 

[Warhawk]

And they have been saying it for almost 10 years. But there comes a point if nothing continues to happen that they will move on. I don't blame the Maloofs. I blame the city council and others.

So now that they are repeating it, saying that they have been waiting 10 years and continue to look forward to a new arena in Sacramento, and there appears to be a plan being set in motion that will build a new arena........

Now you are worried about them leaving? Why?

 

[Section 101]

So now that they are repeating it, saying that they have been waiting 10 years and continue to look forward to a new arena in Sacramento, and there appears to be a plan being set in motion that will build a new arena........

Now you are worried about them leaving? Why?

Lets hear them say it NOW. Its one thing to say you want something when your making money or breaking even. It's another if your losing money. I want to hear them say they are on board with the Cal Expo deal. So yes I will worry about it until there is a binding agreement.

 

[VF21]

Joe Maloof HAS said it. He and his brother have also said they're not going to insinuate themselves into the progress of the NBA/Cal Expo proposals until it's time for them to do so. Until/unless a developer steps forward, what more do you expect them to agree to? You cannot have a "binding agreement" without specifics and until the developer is on board to provide those kinds of details, nothing has changed as far as what the Maloofs have said all along.

 

[Warhawk]

Lets hear them say it NOW. Its one thing to say you want something when your making money or breaking even. It's another if your losing money. I want to hear them say they are on board with the Cal Expo deal. So yes I will worry about it until there is a binding agreement.

Today's story in the Bee.

http://www.sacbee.com/topstories/story/1660563.html

The presentation, nearly two years in the making, was good enough, however, to win a thumbs up from the Sacramento Kings, who are desperate for an arena that can make more money.

....

Kings officials expressed appreciation in a statement issued by their publicist.

"We are encouraged by the NBA's presentation on the potential for a new arena in Sacramento," the statement read. "We look forward to receiving more details as plans develop.

"We have always been supportive and appreciative of the league's efforts and the process to find a solution that works in Sacramento."

Good enough for you, or do you want Joe and Gavin to show up at your door to tell you personally that they want this to move forward?

 

[slugking50]

The plan for Cal Expo is very ambitious but whats wrong with dreaming big?!

if anybody hasn't read the presention yet, I suggest you do.

 

[slugking50]

Good enough for you, or do you want Joe and Gavin to show up at your door to tell you personally that they want this to move forward?

Well.....