Two reasons not to remodel

In 1995, Key Arena underwent a 96 million dollar remodel. The team paid 21 million. In 2008, the team moved away after claiming the remodel was no longer sufficient.

In 1997, Oracle Arena underwent a 121 million dollar remodel. The team has announced they intend to move away in 2017, which is the first opportunity for the new owners to relocate.

Both cities are left with facilities that were outdated on the date they opened and now make little sense without an anchor tenant.

Of course, two more reasons are: there is no way to pay for it; and the Maloofs will never make a deal or stay long term.
 
KJ needs to have Kaiser on speed dial Arco would be perfect for them. As for the remodel screw that it makes no sense at all even the Magoofs said it before their bluff got called.
 
KJ needs to have Kaiser on speed dial Arco would be perfect for them. As for the remodel screw that it makes no sense at all even the Magoofs said it before their bluff got called.

A medical complex is #1 on the hit list of ideas for Natomas. Kaiser is often brought up as the natural fit. However the building moratorium in Natomas kills the Kaiser facility until that gets lifted. The levees need to be addressed and that is waiting on funds from the Feds. It could be a few more years.
 
If the remodeling process can keep the team another 10+ years, wouldn't that be worth it? As long as the team is paying for it...which I doubt that would ever happened.
 
If the remodeling process can keep the team another 10+ years, wouldn't that be worth it? As long as the team is paying for it...which I doubt that would ever happened.

You really answered your own question.

The Maloofs want the city to pay for this renovation. And from what I've seen of the extensive changes, it's going to be well over 100 million and closer to 150 million. Given that the funding mechanism for the downtown ESC was dependent on the parking concession idea, it doesn't work if there is no arena downtown. So this rescue plan to renovate the arena will have to come from another source. One that doesn't exist and the Maloofs know this. And rightly so because I don't know of anyone who would sink 150 million into Arco only to see them look for a new arena in 10 years. Basically the Maloofs know this is NOT a genuine plan and are not really seriously considering doing this. They know that there is no funds and their thoughts on this are not genuine and they have other motives.
 
You really answered your own question.

The Maloofs want the city to pay for this renovation. And from what I've seen of the extensive changes, it's going to be well over 100 million and closer to 150 million. Given that the funding mechanism for the downtown ESC was dependent on the parking concession idea, it doesn't work if there is no arena downtown. So this rescue plan to renovate the arena will have to come from another source. One that doesn't exist and the Maloofs know this. And rightly so because I don't know of anyone who would sink 150 million into Arco only to see them look for a new arena in 10 years. Basically the Maloofs know this is NOT a genuine plan and are not really seriously considering doing this. They know that there is no funds and their thoughts on this are not genuine and they have other motives.

THIS. All of it.
 
THIS. All of it.


X 2.

I've said it from the jump. The Maloofs know, 100% know, that renovating Arco is not an option. That is one of their only fall backs as to why they weren't on board with this arena deal.. Its still shocking to me as to why everyone doesn't see through that and that there are legitimate conversations about this on KHTK between Napear and his followers
 
Just to be fair, I watched Jim Crandell's report on this renovation. It's a joke. It's a colored pencil drawing and white board scribbles. How can they have worked up all these ideas and have drawings that look like a 3rd grader did them. Rann Haight should be embarrassed to be interviewed and have this junk. It's not funny and Crandell should be loudly criticized for running with this.
 
Just to be fair, I watched Jim Crandell's report on this renovation. It's a joke. It's a colored pencil drawing and white board scribbles. How can they have worked up all these ideas and have drawings that look like a 3rd grader did them. Rann Haight should be embarrassed to be interviewed and have this junk. It's not funny and Crandell should be loudly criticized for running with this.

i didnt see the tv broadcast and the actual plans but I'm basically saying that on twitter, that jim and fox40 should know better than to run with this joke.
 
It would be a colossal waste of money to do a short term remodel on what was a super cheap arena in the first place.
 
X4

Who in their right mind would sink $100 mill into an arena that only has a 10-year payback period? How in the world is anybody - Maloofs, city, any other investor - going to get a return of their $100 million, much less on that $100 mill over 10 years?
 
X4

Who in their right mind would sink $100 mill into an arena that only has a 10-year payback period? How in the world is anybody - Maloofs, city, any other investor - going to get a return of their $100 million, much less on that $100 mill over 10 years?
Biggest problem of all, because it's probably not worth the $65 million owed right now and a rehab wouldn't come close to adding another $100 million in value for collateral. In 10 years they could walk away from $165 million.
 
I understand remodeling will not work with the parking deal and all that, but if the sum of $100+ million can keep the Kings locked in Sacramento for 20 years like they did in Seattle, I'm sure a lot of fans would go for it.

Also, don't forget that Clay Bennett and his group never really did try to make things work in Seattle. They bought the Sonics knowing they will move the team even though they pretended otherwise.
 
I understand remodeling will not work with the parking deal and all that, but if the sum of $100+ million can keep the Kings locked in Sacramento for 20 years like they did in Seattle, I'm sure a lot of fans would go for it.

Also, don't forget that Clay Bennett and his group never really did try to make things work in Seattle. They bought the Sonics knowing they will move the team even though they pretended otherwise.

Joe maloof said they want 7-8 more years at Arco. One of the developers i think said renovations would at least add 10 years to Arco's life. Don't know where you are getting 20 years from.
 
I understand remodeling will not work with the parking deal and all that, but if the sum of $100+ million can keep the Kings locked in Sacramento for 20 years like they did in Seattle, I'm sure a lot of fans would go for it.

Also, don't forget that Clay Bennett and his group never really did try to make things work in Seattle. They bought the Sonics knowing they will move the team even though they pretended otherwise.

Lets suspend our BS detector for just a moment actually consider the Maloofs are being genuine for a change. The simple fact is that the city does not have a conceivable way to even pay for this. And the renovation would cost over 100 million and the number I've heard is that will be good for 10 more years. We know the Maloofs cant and won't pay for anything because the Kings are their only source of income. The city has no way to pay for this because the parking deal only works in downtown with the arena there. No arena, no parking deal - period. And lets not forget that there is a Natomas building moratorium for at least the next few years. So nothing happening no matter what.

So I think anyone saying that 100 million saves the Kings for 10 more years is sort of being naive and really needs to start getting educated. There is no 100 million dollars - anywhere. Perhaps if the Maloofs are serious they can borrow money from a lending institution and raise the parking fees and ticket prices to pay for the renovation. They can't ask the NBA because they got burned in the last deal by the Maloofs.

So the city, NBA and most people not on the Maloof payroll think they should sell the team to someone in the position to improve the situation. Who in their right mind will bail them out? Because not even Samueli and Mighty Los Angeles Ducks of Anaheim can save the Maloofs now.
 
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Joe maloof said they want 7-8 more years at Arco. One of the developers i think said renovations would at least add 10 years to Arco's life. Don't know where you are getting 20 years from.

Just another smokescreen by the Maloofs to try and derail the ESC project. If the city and developers can get a deal in place without the Kings as anchor tenant, the pressure by the NBA for the Maloofs to find a way to commit to a deal to keep the Kings in Sacramento would be monumental.
 
Joe maloof said they want 7-8 more years at Arco. One of the developers i think said renovations would at least add 10 years to Arco's life. Don't know where you are getting 20 years from.

I agree. I love the NBA and enjoy the Kings. I don't care for hockey. As somebody that lives here, if I have to pick between (1) 100 million into Arco, which the Maloofs will dump on the city and we'll be stuck using for another 15 for concerts (at a loss) because the city won't spend again; (2) a new ESC in the railyards with most likely an NHL team, I know how I vote.

It's either Kings downtown with new owners or downtown with a new team.
 
The city could float municipal bonds to pay for the $100 million, but as I said, I'd never do it. Bonds are for 30-years. Even if there was a similar parking deal, I still wouldn't do it. The value of the rehabbed arena would be well below the $165 million owed. The arena as is, is worth less than the $65 million currently owed. (Mostly interest would be paid off over the first 10 years.) This would be a massively bad deal for the city and give the Maloofs a chance to default on $165 million debt, instead of only $65 million.

Generally, rehab is not forbidden in a flood area, just new construction. But that's beside the point, since the dollars in this make no sense, whatsoever, for the city. Now if the Maloofs want to spend $100 million to rehab the old arena, I wouldn't stop them, but if they have that much they could do the downtown deal.

It's just a stupid proposal, that any city representative would be stupid to endorse. I don't think they are that stupid. Not by a long shot. They've proved shrewd and innovative in coming up with the downtown arena financing plan. The Maloofs must see Sacramento as sheep just pining to be fleeced. :mad:

EDIT: I just had an idea. Since the original developer of Arco came up with this rehab plan, maybe he'd be happy to put in the $100 million needed. He can take a lien position on the property behind the city. Let's see him put his money where his big mouth is. :p
 
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UPDATE: @kcrabienick reported @KJ_MayorJohnson raised $841,000 for his re-election bid. Web link is working again.

http://www.kcra.com/news/politics/S...bid/-/11797268/14183982/-/rcjukc/-/index.html

Sacramento Mayor Kevin Johnson has raised more than $437,000 in his re-election bid, according to campaign finance reports.

Among Johnson's contributors is Ron Burkle, the owner of the Pittsburgh Penguins hockey team, who has expressed interest in purchasing the Sacramento Kings.

Burkle donated $3,000 on May 18.
 
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I think an obvious fact why Arco shouldnt be renovated is that Arco is not in a great location. As far as being around restaurants, shops, etc., Arco is pretty far out of the way of anything good. An arena near the railyards would create way more foot traffic for local buisnesses, which the Maloofs seem to think is a "bad move for the city." But an arena right downtown would likely bring more people into the arena as well b/c it would be a fun thing to do for anyone in downtown Sac.
 
UPDATE: @kcrabienick reported @KJ_MayorJohnson raised $841,000 for his re-election bid. Web link no longer works.

http://www.kcra.com/news/politics/S...bid/-/11797268/14183982/-/rcjukc/-/index.html

Burkle must still bealive the Magoofs are way to underwater to keep up this charade "we have no debt were fine" lol yea we will see when push comes to shove. Fact is they gambled and lost. They already lost the beer distribution & casino and compared to those business the Kings are small fries.
 
Joe maloof said they want 7-8 more years at Arco. One of the developers i think said renovations would at least add 10 years to Arco's life. Don't know where you are getting 20 years from.

Read the original post, I'm referring to the Oracle renovation that will eventually end up keeping the Warriors there for 20 years. The OP listed that as a reason not to renovate. I'm saying that the listed examples are not good reasons to not renovate because there will be a lot of happy fans if they are able to guarantee the King in town for the next 20 years.
 
Read the original post, I'm referring to the Oracle renovation that will eventually end up keeping the Warriors there for 20 years. The OP listed that as a reason not to renovate. I'm saying that the listed examples are not good reasons to not renovate because there will be a lot of happy fans if they are able to guarantee the King in town for the next 20 years.


The oracle remod lasted 20 years only because it had a 20 year lease attached to it. The Ws sold when they did because that how long it took to attract new buyers with that lease. The new owners have always planned a sf move. If they could have bought 10 years ago and moved 7 years ago, they would have.

As you'll never get the maloofs to sign even a 10 year lease, it's never going to happen.

Either the Maloofs win and this team goes. The city wins and the Maloofs go and the team stays. Or we both loose through contraction. Any notion of the Kings staying in Maloofs control and playing anywhere here in three years is nonsense.
 
The oracle remod lasted 20 years only because it had a 20 year lease attached to it. The Ws sold when they did because that how long it took to attract new buyers with that lease. The new owners have always planned a sf move. If they could have bought 10 years ago and moved 7 years ago, they would have.

As you'll never get the maloofs to sign even a 10 year lease, it's never going to happen.

Either the Maloofs win and this team goes. The city wins and the Maloofs go and the team stays. Or we both loose through contraction. Any notion of the Kings staying in Maloofs control and playing anywhere here in three years is nonsense.

Your last comment is missing a word. Did you mean to include "but" or "including" between "playing anywhere..." and "...here in three years"?
 
I caught some of the Grant show on Thursday. You better get ready for KHTK and the Kings to push the remodel hard. Grant said fans should great ready to hear more about a remodel in the fall. He proclaimed the hopes and prospects for any new arena for the Kings as dead and over for “next 10 years.” He then premised the remodel discussion with his ground rules of “what if” “don’t think about how it will be paid for or who is paying.” Instead, just ask yourself if a remodel could keep the Kings here for another 10 years, and the remodel made the place look completely different inside, would you be in favor of that? 10 years later, maybe they’ll get a new arena done.

Whether it will happen, who pays, how they pay, what funding a remodel would do the prospect of the city or team funding a new arena in the future. That’s not important.

Grant’s also selling that Arco can be renovated in stages so the team can keep playing there during a remodel. He’s comparing the proposed Sacramento remodel to Madison Square Garden’s projects, which has a huge footprint and it costing a lot more because the teams are going to keep playing inside while the events continue. He didn’t acknowledge that the Warriors remodel, which is the best comparison, required the Warriors to play a full season in San Jose.

In the fall, I would expect more details on what the project might look like and some drawings. Basically, it’s the Maloofs turn to do Cal Expo style drawings. By December 2012, I would expect to have a sticker price.

In early 2013, the Maloofs are going to offer to fund a portion if the city will pick up the rest. The Maloofs don’t have to worry about coming up with that money, because the number will be designed solely to ensure the city says no. I’m guessing 50/50.

Up until this point, KHTK and the Maloofs will be on the same page for different reasons. The Maloofs are working on the door the league is trying to put up to keep the team here. The folks at KHTK just want to avoid looking for new work.

When the city rejects the Maloofs offer, they will spin it as: it’s a 15 year problem, they city isn’t putting anything new on the table, they are trying to attract other sports like baseball, and the rejected our offer to spilt a remodel 50/50. They are the problem.

It’s crap. But it’s coming. Grant was laying the ground work in a sleazy way last week.

The really impressive thing will be the maneuvering that Grant will need to perform. The place couldn’t be remodeled, the foot print is too small, to remodel it the right way it would cost an outrageous amount, many acts won’t come because of the poor acoustics of the roof and small back stage area, all the guts in the building are too small and old. This isn’t just about the Kings. It’s about attracting bigger non-sport acts, it’s something the city will own, it a project will spur economic development … all that ground work he laid for 7 years becomes baggage. Soon it’s going to be, if you want to keep the team and shows you have … “the city needs to put ___ on the table or don’t’ come crying to me when the team leaves and the Maloofs tear down Arco.”

The upside to the Maloofs and Grant not being very bright is you can see where they are going.
 
They'll never get that garbage building renovated. They are a sleazy, shyster family who have screwed over the great fans who have supported them thick and thin. They've run this team into the ground and I'll be surprised if they have much of a fan base after this season.
 
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