Sacramento Releases Details on Arena
Sacramento officials released a raft of new details on the proposed $391 million downtown arena Thursday, including a VIP parking garage and special $1 ticket surcharge.
After hours of delay, the city produced the all-important “term sheet” spelling out the financing structure agreed to by city officials, the Sacramento Kings, arena operator Anschutz Entertainment Group and the ICON/Taylor development team. The document was released three days after the parties announced a historic handshake deal to keep the Kings in town.
With the release of the document, Mayor Kevin Johnson said the city met the NBA’s March 1 deadline for crafting a deal.