Venue Detail
Sacramento Kings
Revenues From Sports Venues Pro Facilities Report
February, 2011
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
Power Balance Pavilion, 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: Power Balance
Ticket prices
Season tickets range from $657 to $6,765 Single tickets range from $10.00 to $165.00
Attendance
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
The arena, the NBA Kings and WNBA Monarchs all have common ownership in the Maloof family of New Mexico. Formerly Arco Arena, the building was renamed in 2011 in a deal where the details were undisclosed.
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.
Now Mayor Kevin Johnson has told his revived arena task force that he wants a recommendation on how to build a new arena on his desk by early 2011. The committee will solicit and review proposals from developers before making a recommendation.
Johnson said he wants a new facility to help keep the Kings in town but also believes the city should have a more modern entertainment venue for concerts and other entertainment events.
The quest to build a new arena in Sacramento has lasted most of this decade and frustrated a succession of local politicians. Kings and National Basketball Association officials have said the team must consider leaving Sacramento at some point if a new arena isn't built.
At least two of the development teams involved in Johnson's first attempt are expected to take another shot.
Developer Gerry Kamilos told the Bee he plans to submit a proposal for an arena on the city-owned section of the downtown Sacramento railyard.
Kamilos has declined to describe his proposal, but says it is a modified version of the failed three-site land-swap he proposed last year.
The plan likely would also involve helping Cal Expo design and finance an updated fairgrounds at its current site. State Fair officials have said they are willing to listen to Kamilos' plans, but have not yet decided which direction they will take in refurbishing the fairgrounds.
Kamilos said he still has in his stable three major companies that would bring several hundred million dollars in equity to a potential deal: VisionMaker Worldwide, Macquarie Capital and PCCP.
Jeff Baize, the CEO of Brookhurst Development and the spokesman of a group behind a plan to build a new facility adjacent to the current site in Natomas, told the newspaper his team would submit its proposal again.
However, Baize said the group is “concerned that it has been preordained that the project will go downtown and any other proposal will not receive adequate review.”
In addition to a new arena, the Natomas proposal calls for restaurants, a cinema, housing and a “green tech” research and office park. (Basketball, Facilities, Financial, NBA, Professional Sports)