Venue Detail
Sacramento Kings
Revenues From Sports Venues Pro Facilities Report
January, 2010
Sacramento Kings
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1 Sports Pkwy Sacramento, CA 95834-2301 Phone: 916-928-0000 Fax: 916-928-0727 URL: www.nba.com/kings Owner: Joe and Gavin Maloof League: National Basketball Association Western Conference, Pacific
Venue
Arco Arena, 1 Sports Pkwy, Sacramento, CA 95834-2301 Owner: Joe and Gavin Maloof Managed by: Owner Built: 1988 Capacity: 13,609 Permanent concession stands: 6 Concessionaire: The Levy Restaurants Suite caterer: The Levy Restaurants
Naming rights
Sold to: Atlantic Richfield Co. Price: $7, 000,000 Term: 10 years Expires: 2008
Ticket prices
Season tickets range from $657 to $6,765 Single tickets range from $10.00 to $165.00 2007 average attendance: 17,312 2008 average attendance: 14,150 2009 average attendance: 17,227
Luxury Suites
Quantity: 30 Term: 1 to 4 years Price: $185,000 to $277,600 Seats: 16 to 26 Includes: Tickets for regular Kings games and all arena events.
Club seats
Quantity: 412 Term: 1 to 3 years Price: $4,620 to $4,620 Includes: Tickets, parking. Sold in groups of 4 to 12. These are known as club box seats.
Financing
The $70 million Venue was privately financed. Pct. public: 0
Arco Arena, the NBA Kings and WNBA Monarchs all have common ownership in the Maloof family of New Mexico.
The Monarchs are supported through ticket sales and sponsorships. The team reports having 15 sponsors that pay between $15,000 and $125,000 a year. If you want to join the celebrities around the court, and if one becomes available, you have your choice of three areas along "Kings Row." The third row prices begin at $11,220 and climb to $26,180 per season on the front row.
The total value of the signage in the arena was reported by the team to be $1.2 million.
The Kings had an arena plan to take before voters in 2006, but then disagreements caused it to fall apart. It scarcely mattered as voters rejected the idea of funding a venue.
Negotiators for the National Basketball Association and Cal Expo announced have been working on a plan to build a Kings arena in the state fairgrounds.
According to a letter of understanding, the two sides will work on a development plan that would accommodate both an arena and a revamped fairgrounds.
They plan to ask developers to submit proposals for turning the 360-acre fairgrounds into a mixed-use and entertainment development.
NBA Commissioner David Stern took over the arena effort in December 2006 after earlier attempts involving the Maloofs and city and county officials collapsed in bitterness and recrimination.
The Kings owners walked away from the last serious proposal to build a new arena, in 2006. That effort would have involved raising the sales tax countywide to pay for an arena in the shuttered downtown railyard. Without the Maloofs' support, voters trounced the plan.
The agreement is not legally binding, but representatives of both the NBA and Cal Expo said it represents a significant step forward. They also cautioned that major challenges lie ahead.
Negotiators for both sides said they were confident enough that they could come up with a mutually acceptable development proposal to move to the next step: crafting an actual plan, and looking for a developer to design and build it.
The goal is to attract a developer that can take the existing space at Cal Expo, revamp the fairgrounds, add a 17,000- to 20,000-seat arena and squeeze in enough new commercial or residential development to pay for it all.
Based on past estimates, the price tag for a new arena and fairgrounds upgrade could easily top $650 million. The money for those improvements will be needed at the beginning of the development – long before all the stores, homes or restaurants materialize. A developer could provide the money up front, or Cal Expo conceivably could issue bonds that would be repaid through future profits.
In addition to finding a developer willing to shoulder such a financial challenge, Cal Expo and the NBA also have to tackle the issue of traffic. Cal Expo sits along a stretch of the Capital City Freeway that already backs up frequently.
Former Gov. Pete Wilson said the parties have no definite answers at this point on how to handle increased traffic – a problem that could require state help.
Stern said Gov. Arnold Schwarzenegger has been “very supportive” of the NBA's effort. (Facilities, Financial, Professional Sports, Venue)