ICON Releases Information On Kings New Potential Arena

The news is all over the place, but for a short recap…

Price: A cool 387 millllllion dollars.

Location: Downtown (think Railyards)

Seating: 19,000 seats for basketball and an increase of 44 luxury suites, going from 30 at Arco to 74 at the new venue.

Date of completion: May of 2015 – just in time to miss the 2014-2015 season.

Funds: As always, these are the most significant yet most questionable answers in any new arena situation. And while it’s not written in stone, large portions of the finances will come from a variety of taxes (hotel, taxi, arena) leaving the general public out of it – which kills two birds. No public financing and no vote needed on that.

Builder: ICON-Taylor led by Sacramento development firm David Taylor Interests. ICON is one of the leading sport complex builders in the Nation, completing such venues as the Pepsi Center (Nuggets), Ford Center (Thunder), Invesco Field (Denver Broncos), the retrofit of Staples Center (Lakers) and many other projects, both locally and globally.

More details to come, without a doubt – but the opening shots fired are extremely promising.

Just another victory added to the Kings in Sacramento scorecard.

Tags: Arena

  • John Reay

    Has ANYBODY given even a moment’s thought as to how many police officers, fire fighters, teachers, etc could be purchased with 387 million dollars? And if you actually believe this can be done for 387 million; I have a bridge I’d like to sell you. We can’t find the budget to keep adequate basic services intact and we are talking about a new sports arena for the sole benefit of a couple of already obscenely rich individuals? This is pure madness!

    • Rivers5

      Do you really believe that the city and county of Sacramento or the region for that matter is going to hand over 300 to 400 million dollars to build an arena? If you do I have a bridge to sell you! This SEC will be an anchor for development in downtown that will ensure even greater development and consequently more tax revenue to keep and hire police and fire. I am a police officer and know that development means tax revenue which translates to bigger government coffers! If the city provided land to Century Theaters to build a cinema would you be against that as well, since billionaire movie executives would reap the rewards of increased movie ticket sales? My assumption is no! It takes money to make money! And because they cannot raise taxes they must invest in infrastructure and amenities to lure investors and development to increase property and sales tax revenue. Think logically not emotionally!

  • Guy

    Do you really think this is for the benefit of TWO people. What about the 1,200 people that work at the current PBP arena or the similar number that would work at a new facility

  • Ezekiel Escobar

    A new arena would bring millions upon millions of dollars in revenue annually for the city and its economy, not to mention, clean up an area of the city and turn it into a very viable economic resource.

    You can look all around the NBA (as well as the MLB and NFL) and see how many slummy areas of cities were completely revitalized by new venues put in place and how much it improved the local economics.

    Look at the China Basin up in San Fran with AT&T Park.

    A new arena is a win for the city and its budget.

    And as Guy said, losing the Kings is a crippling blow for the local economy – just payroll alone from MS&E employee’s is a good 7-10 million dollars in the local economy.

  • John

    Well, I wanted a discussion and got one! Thanks to all, great comments regarding the Kings and new sports arena. But there are some points that have to be thought out, like:
    1. The Kings still owe Sacramento some 70 million dollars, do we just write that off for the privilege of keeping the Kings?
    2. There is steadfast opposition, especially among Republicans, to raising taxes in any form and for any reason. Won’t taxes need to be raised to build a new sports arena?

    • Guy

      The $70 million is to secure the property and building for the current arena and its surrounding land (one of the largest parcels of its type) will continue to owned by MSE.