Railyard Arena Deal Dead in Sacramento
In a shock of a New York minute – and that’s how fast this partnership seems to have dissolved – the parties involved in financing Sacramento’s proposed sports and entertainment complex went their separate ways.
This was a quickie divorce with all the accompanying pain and suffering.
And what about the Maloofs? What about the Maloofs? They wanted to leave. Then they wanted to stay. Then they wanted a deal. Then they liked the tentative deal. Then they didn’t like the tentative deal.
Anyone with a memory has to remember last year’s flirtation with Anaheim and has to wonder if relocation isn’t part of a much larger plot. You know? Kill the railyard deal and sprint for the Honda Center?
The Maloofs clearly had issues with the railyard proposal, particularly pertaining to projected revenue streams. They also have become increasingly uncomfortable with the notion of being a major tenant (Anaheim, railyard deal) instead of being an owner/operator of a facility (Power Balance Pavilion). Some local sources are even theorizing that the Maloofs’ preference is to stay put and refurbish Power Balance Pavilion, partly because the league’s increased revenue sharing eases their financial burden.
“You can call it (the agreement) anything you want,” the commissioner said during a televised news conference, carefully choosing his words. “And I think it’s fair for the Maloofs to say they don’t want to do it. If they had done that a little simpler, a little earlier and a little more directly, it could have saved a lot of angst and trouble.”