RICH SUGG / Kansas City Star

The Sprint Center in Kansas City, Mo., is one of numerous arenas and entertainment facilities around the world operated by Anschutz Entertainment Group.

More Information

0 comments | Print

LA arena operator acknowledges interest in Sacramento sports complex

Published: Saturday, Sep. 24, 2011 - 12:00 am | Page 1B
Last Modified: Sunday, Sep. 25, 2011 - 1:53 pm

International stadium and arena operator Anschutz Entertainment Group confirmed for the first time Friday that it might participate in the effort to build a sports and entertainment complex in Sacramento.

"We have made the mayor aware that … any assistance he would like to ask us for, we would be interested," said AEG spokesman Michael Roth.

AEG officials met Friday in Los Angeles with Sacramento Mayor Kevin Johnson and members of his Sacramento arena team. The mayor described the meeting, the latest of several with AEG, as productive. The mayor said it included discussion of AEG's potential role as arena operator, should the company sign on. "Sacramento deserves the best, and AEG represents exactly that," the mayor said in an email to The Bee. "Bringing on AEG would … guarantee our new entertainment and sports complex is developed and operated in truly world-class fashion."

The mayor's Think Big Sacramento committee has identified Los Angeles-based AEG – or a similar arena operating company – as a pivotal player that could provide tens of millions of dollars in upfront cash to launch the construction project. That company would be compensated later by arena revenues once it opens.

Such an arrangement would not be new to AEG. The company invested $53 million several years ago to help build the Sprint Center in Kansas City, Mo. AEG now runs the building and keeps the profits. If profits exceed a certain threshold, the extra money is shared with the city.

Since the building opened in 2007, the city's share of the profits has totaled an estimated $6 million.

AEG is planning Farmers Field, a $1 billion-plus football stadium in downtown Los Angeles, where it also operates the Staples Center, home of the Lakers and Clippers basketball teams. The company is part-owner of ICON Venue Group, the arena development company that Sacramento city officials hope to hire to lead the arena construction team. The two companies frequently work together on stadium projects.

On Tuesday, the Sacramento City Council will consider a proposal authorizing city officials to engage in exclusive negotiations with ICON and its local partner, developer David Taylor, to sign on as the city's arena development team, if an arena financing deal comes together.

The council also will be briefed on a city staff plan to spend $555,000 over the next six months on consultants to help them analyze the finances and legalities of an arena, and to help negotiate deals with the Sacramento Kings and the National Basketball Association.

The council will vote on a portion of that $555,000.

Some of the funds are unused money for city capital improvement projects, money that otherwise could be available for the city general fund, which pays for basic services such as police, parks and fire.

The Kings and the NBA have given Sacramento until March 1 to come up with an arena deal.

© Copyright The Sacramento Bee. All rights reserved.



About Comments

Reader comments on Sacbee.com are the opinions of the writer, not The Sacramento Bee. If you see an objectionable comment, click the "Report Abuse" link below it. We will delete comments containing inappropriate links, obscenities, hate speech, and personal attacks. Flagrant or repeat violators will be banned. See more about comments here.

What You Should Know About Comments on Sacbee.com

Sacbee.com is happy to provide a forum for reader interaction, discussion, feedback and reaction to our stories. However, we reserve the right to delete inappropriate comments or ban users who can't play nice. (See our full terms of service here.)

Here are some rules of the road:

• Keep your comments civil. Don't insult one another or the subjects of our articles. If you think a comment violates our guidelines click the "Report Abuse" link to notify the moderators. Responding to the comment will only encourage bad behavior.

• Don't use profanities, vulgarities or hate speech. This is a general interest news site. Sometimes, there are children present. Don't say anything in a way you wouldn't want your own child to hear.

• Do not attack other users; focus your comments on issues, not individuals.

• Stay on topic. Only post comments relevant to the article at hand.

• Do not copy and paste outside material into the comment box.

• Don't repeat the same comment over and over. We heard you the first time.

• Do not use the commenting system for advertising. That's spam and it isn't allowed.

• Don't use all capital letters. That's akin to yelling and not appreciated by the audience.

• Don't flag other users' comments just because you don't agree with their point of view. Please only flag comments that violate these guidelines.

You should also know that The Sacramento Bee does not screen comments before they are posted. You are more likely to see inappropriate comments before our staff does, so we ask that you click the "Report Abuse" link to submit those comments for moderator review. You also may notify us via email at feedback@sacbee.com. Note the headline on which the comment is made and tell us the profile name of the user who made the comment. Remember, comment moderation is subjective. You may find some material objectionable that we won't and vice versa.

If you submit a comment, the user name of your account will appear along with it. Users cannot remove their own comments once they have submitted them.

hide comments
Sacramento Bee Job listing powered by Careerbuilder.com
Quick Job Search
Buy
Used Cars
Dealer and private-party ads
Make:

Model:

Price Range:
to
Search within:
miles of ZIP

Advanced Search | 1982 & Older



Find 'n' Save Daily DealGet the Deal!

Local Deals