December 13, 2011: City Council Meeting Recap

[nuraman00]

http://www.capradio.org/articles/2011/12/13/city-council-to-vote-on-part-of-arena-funding-plan

[nuraman00]

http://www.news10.net/news/article/167848/2/Mayor-confident-in-next-arena-vote-will-update-NBA-in-NYC-

[nuraman00]

Ok, so they can raise $250 M from parking, if it passes.

What about the rest of the financing? Did Kevin Johnson talk about the rest, today?

[Gunshot]

The balance will come from AIG, The NBA, The Maloofs and private investors

[nuraman00]

The balance will come from AIG, The NBA, The Maloofs and private investors

So there's a meeting in NY with AIG and the Maloofs. Will we find out how much those two entities will contribute on Friday, or is that just an initial meeting?

Is that going to be how much the Maloofs contribute in rent?

And AIG will contribute some so they can operate the arena? And then get a part of the revenues too?

[ctba]

So there's a meeting in NY with AIG and the Maloofs. Will we find out how much those two entities will contribute on Friday, or is that just an initial meeting?

Is that going to be how much the Maloofs contribute in rent?

And AIG will contribute some so they can operate the arena? And then get a part of the revenues too?

The Maloofs have no say really. The NBA took over and it is only the city and the NBA talking about the arena.

[nuraman00]

The Maloofs have no say really. The NBA took over and it is only the city and the NBA talking about the arena.

Ok, so:

1. $200M from parking
2. XXX from AIG buying partial ownership.
3. YYY from private investors.

++++++++++++++++
Total: $406 M.

Is that how it will be divided up?

When will we learn the rest?

[nuraman00]

Ok, so:

1. $200M from parking
2. XXX from AIG buying partial ownership.
3. YYY from private investors.

++++++++++++++++
Total: $406 M.

Is that how it will be divided up?

When will we learn the rest?

Bump? Can someone confirm how the rest of the cost will be divided up? And when we'll learn the rest of the sources?

[GoKings2010]

I know someone on the Grant Napier Show called in and said with us losing doesnt help us get an arena. I was on the same boat as the caller but Grant said that couldnt be farther from the truth. He said the Maloofs arent losing no money wat so ever this yr and our play doesnt and will not affect our arena situation, but how doesnt it? I understand with the Maloofs not losing money cause our payroll is hella cheap so how they losing money? But with the Arena its not like they wanna be here for 1, 2nd its more of getting the fans vote and get behind this arena deal and I dont see it happening with a bad product on the floor. Hopefully the Kings turn this season around and seats start to fill up and actually show support for this team.

[nuraman00]

I know someone on the Grant Napier Show called in and said with us losing doesnt help us get an arena. I was on the same boat as the caller but Grant said that couldnt be farther from the truth. He said the Maloofs arent losing no money wat so ever this yr and our play doesnt and will not affect our arena situation, but how doesnt it? I understand with the Maloofs not losing money cause our payroll is hella cheap so how they losing money? But with the Arena its not like they wanna be here for 1, 2nd its more of getting the fans vote and get behind this arena deal and I dont see it happening with a bad product on the floor. Hopefully the Kings turn this season around and seats start to fill up and actually show support for this team.

I think it doesn't matter how the team does this year, because no public taxpayer money will be involved. So it affects the public less. It's going to come from private money, and parking fees, and AEG.

They're bidding the parking contract to different companies now:

http://www.sacbee.com/2012/01/31/4226779/13-firms-show-interest-in-sacramento.html