Sacramento Mayor Kevin Johnson meets with NBA, says AEG is key to arena

[Mike0476]

http://www.news10.net/news/article/168351/2/Johnson-meets-with-NBA-says-AEG-key-player

"They're (AEG) going to do everything they can to be an equity investor and that's important," Johnson said. "We've got the NBA and the Maloofs on one hand, you have us, the city on the public side and now we have an operator that's willing to look at being a private equity investor, that starts to put more people in it and that's very important."

During the 6pm newscast, News 10 also reported that in addition to AEG wanting to be an equity investor, you can now add ICON/Taylor to that list as well. That's BIG news.

 

[Circa_1985_Fan]

http://www.news10.net/news/article/168351/2/Johnson-meets-with-NBA-says-AEG-key-player




During the 6pm newscast, News 10 also reported that in addition to AEG wanting to be an equity investor, you can now add ICON/Taylor to that list as well. That's BIG news.

Awesome! Let's keep this momentum going...BRAVO KJ!!

 

[RussoTuristo]

Oh, its been good news after good news ... I hope they won't break my heart because I am a true believer now. I was only a big optimist before that .

 

[Mike0476]

FOX 40's Mark Demsky reported this during tonight's 10:00pm news:

"I wasn't given an exact number but it's being reported anyway that AEG could contribute in the ballpark of $50 million. So just doing the math if the city gets between $200-250 million from parking and $50 million more from AEG, we assume the Maloofs are going to kick in their fair share they've said which at this point if I had to guess would probably be some where around $30 million. The city would already have 3/4 of the roughly $400 million price tag for an arena. That's not even counting what the NBA or any other private investor may contribute."

 

[PurpleHaze]

FOX 40's Mark Demsky reported this during tonight's 10:00pm news:

"I wasn't given an exact number but it's being reported anyway that AEG could contribute in the ballpark of $50 million. So just doing the math if the city gets between $200-250 million from parking and $50 million more from AEG, we assume the Maloofs are going to kick in their fair share they've said which at this point if I had to guess would probably be some where around $30 million. The city would already have 3/4 of the roughly $400 million price tag for an arena. That's not even counting what the NBA or any other private investor may contribute."

It's all sounding good but I still can only call myself cautiously optomistic heading down to the wire. Getting private (AEG, ICON, etc.) and even public (regional jurisdictions) investors in on the new arena deal is make or break critical assuming biggest city chunk is doable (parking, etc.). I always wondered what Maloofs would or more importantly could do financially to assist the project. Plus, being just a tenant, what is incentive for them to contribute much since they would just be renting the hall? I guess if they had an equity position that would maybe be sensible but if just a lousy renter for a few years, much less 30 years, what is really in it for them?

 

[kennadog]

The parking is an uncertain decision, until the city actually votes on whether to even go out to bid. That won't be until February.

At the last meeting however, a Sacramento business organization (members) said they wanted to contribute monetarily.

 

[Circa_1985_Fan]

The parking is an uncertain decision, until the city actually votes on whether to even go out to bid. That won't be until February.

At the last meeting however, a Sacramento business organization (members) said they wanted to contribute monetarily.

That was Steve Hammond, President of the Sacramento Convention and.Visitors Bureau...not sure how much liquidity it has as a company, but anything extra towards the arena is of course very welcome...also Icon/Taylor said they'd pony up some cash too...and I know they're loaded.

 

[kennadog]

That was Steve Hammond, President of the Sacramento Convention and.Visitors Bureau...not sure how much liquidity it has as a company, but anything extra towards the arena is of course very welcome...also Icon/Taylor said they'd pony up some cash too...and I know they're loaded.

No I don't think it was Hammond. I think it was the head of the downtown business association, but I'd have to go back and find it. The Sacramento Convention and Visitors Bureau hasn't got money for something like this.