Computer rendition of possible arena plan
Computer rendition of downtown arena plan
SLIDESHOW: Arena plans unveiled
WHAT THEY'RE SAYING: Cal Expo, Maloofs, NBA issued arena plan statements
SACRAMENTO, CA - The NBA and the Sacramento Kings are preparing to back a three-way land trade deal that would lead to a new Kings area in downtown Sacramento and a new state fairgrounds at the site of ARCO Arena.
The plan would involve the state selling the current Cal Expo site to developers as home to a new mixed-use community project. The city of Sacramento and the Kings would then transfer the existing ARCO Arena site in Natomas to the state for the creation of a new state fairgrounds and exhibition center.
In return, the Kings would be free to develop their long-coveted plan for a new arena on the downtown rail yard location.
"It could be the Madison Square Garden of Sacramento, an arena which works for everyone," said NBA representative John Moag.
Under the plan, financing for the project would be arranged and managed by the city and state.
The Maloofs, owners of the Kings, say they will commit $300 million to the project.
The plan submitted by developers including Gary Kamilos is one of seven Sacramento arena proposals unveiled Thursday at a Sacramento City Hall open house meeting on the arena issue.
Moag affirmed the league's commitment to working with the Kamilos team to test the plan's economics. He also said the group would be prepared to reveal more details of the proposal at Sacramento Mayor Kevin Johnson's task force meeting next month.
"The NBA supports the Kamilos plan because we believe it represents a legitimate opportunity for success," Moag said in a written statement. The league said that while they were supporting the Kamilos proposal, that would not keep the NBA and the Maloofs from working toward a different, stronger plan if such a proposal surfaced.
In a statement issued by the Maloof family late Thursday, the Kings owners said they were very excited about the possibility of a new sports and entertainment complex for Sacramento.
"We have been briefed by the NBA on the details of this proposal and are appreciative and supportive of the NBA's efforts and the leadership of Mayor Kevin Johnson who has driven this process forward. We're committed to help any way we can," the statement read.
Meanwhile, Cal Expo officials said they were "intrigued" by the proposals presented Thursday and were receptive to exploring "any and all ideas" toward achieving their redevelopment plans.
"The Cal Expo Board of Directors and its Real Estate Committee will thoroughly review the new proposals and provide the proposers, the NBA and the State of California with our feedback, after we have had sufficient time to study the plans in detail, and determine if they are in the best interest of Cal Expo and the California State Fair," according to the statement.