What happens to Sleep Train Arena?

[Jose]

Slightly off-topic but somewhat relevant... what happens to ST Arena if the sale to Seattle goes thru? It would be awesome if Burkle, having stepped aside from the ownership group, said he is now committed to investing in the Downtown project - with a state of the art ESC regardless of whether the Kings say or not.

If the Kings stay, they would of course be the anchor tenant. If they don't, once the sale is done it removes the non-compete clause and leaves the Seattle group holding the bag on an old, obsolete arena that would draw no business (thanks to the new ESC), no way to sell it (who would want it?) or remodel it (building moratorium and a VERY uncooperative city council with LOTS of red tape).

I know, unlikely without an anchor tenant but still... there is a lot of money to be made by revamping our downtown. Someone is going to tap into that sooner or later.

 

[HndsmCelt]

Ringling Brothers practice facility.

 

[Section 101]

It gets demolished. The cost to repair and remodel is too high vs demolish and sell the land as parcels.

 

[kennadog]

An arena just won't pencil out in Sacramento without an anchor tenant. That's exactly the point our group #FANS and now Crown Downtown has been trying to make for almost three years. No Kings means no more arena in Sacramento. It means bye bye to all the non Kings events, too. That's why our motto is #BiggerThanBasketball.

Worse, our best chance in years to actually, finally revitalize downtown would be gone. Arco likely to be demolished or just left empty. Can't even build on it until the moratorium is lifted (who knows when). The new ownership group is actually willing to pay a post-moratorium value for the land right now. That and not having to sell the land themselves would be a huge win for the city, too.

But Kings leave = no arena in Sacramento for any events.

We have been emphasizing that for the last two years in our drive, but too many people in Sacramento still don't seem to get it.

 

[LWP777]

Blow it up and clear the area so that the ancient Indian burial grounds that are underneath the arena can finally RIP and they will take the 25+ year curse off the Sacramento Kings.

 

[Hallama]