The Kings’ Latest New Arena Proposal

by January 15, 2010
8

So, about moving to Vegas … : ” The National Basketball Association tonight announced its support for a dramatic land-swap proposal to build a new state fairgrounds at the current Arco Arena site in Natomas and a new arena for the Sacramento Kings downtown next to the rail depot. The proposal, involving three prime pieces of Sacramento real estate, is one of seven arena concepts submitted in response to a request from Sacramento Mayor Kevin Johnson two months ago for help in finding a replacement facility for aging Arco Arena … The plan calls for a three-part land swap: The state would sell the current Cal Expo site to a development group that would redevelop the property into a mixed-use community. The state, in turn, would take over the existing Arco Arena site in Natomas, now owned by the city and the Kings, and transform it into a modern state fairgrounds and exposition center. And a new Kings arena would go up on city-owned land in the downtown rail yard. NBA representative John Moag said the NBA and the Maloof family, owners of the Sacramento Kings, are backing the proposal because it comes with what has been the missing link in Sacramento arena discussions: financing commitments from two major investment firms.”