New details of the Sacramento Kings’ plan to move their G League team from Reno to Stockton have emerged ahead of a vote to finalize the agreement.
The agenda for Tuesday’s Stockton City Council meeting includes a copy of the Kings’ proposed lease with the city of Stockton and a letter of intent signed by the two sides.
Under the lease’s terms, the Kings will agree to pay $9,000 for each of the 25 regular-season games — $225,000 total — at Stockton Arena in the 2018-19 season, plus another $9,000 per postseason contest.
Rent will then increase by 5 percent for the 2019-20 season ($236,250) and again for 2020-21 ($247,500). The Kings will also pay the city $2.50 for each individual game ticket sold and $1 per seat for group packages or partial season tickets.
In exchange, the Kings will receive 15 percent of all concession and catering sales, all revenue from temporary game-day advertising such as sponsors’ decals and all remaining ticket sales. The Kings also get to host three complimentary non-game events per year in the arena — say, FanFest or a day for season ticket holders to relocate their seats.
G League players and staff with the Kings’ unnamed affiliate get free use of 70 parking spots around the arena. Stockton will also be required to upgrade lockers, toilets and showers in the home and visitors’ dressing rooms.
The three-year lease comes with three subsequent one-year extensions, all of which carry 5 percent rent increases.
The agreement represents a sizable entertainment coup for Stockton and 27-year-old Mayor Michael Tubbs, who was named to the Forbes 30 under 30 list last year after pushing for unorthodox policies such as basic income for some residents and paying young men likely to engage in gun violence to stay out of trouble.
The Kings chose to move their G League team from Reno to ease transportation for call-ups and broaden the organization’s reach in Sacramento’s surrounding area. Kings representatives plan to join Tubbs in Stockton on May 24 for the State of the City and first Sacramento Kings Community Day.
Constructed in 2005, Stockton Arena seats up to 12,000 fans and doubles as the home for the minor league hockey team Stockton Heat. The AHL and G League regular seasons both run from October through April, and hardwood will be placed over the ice rink for basketball games.
The council will vote on the lease at Tuesday’s meeting, which will begin at 5:30 p.m.
Benjy Egel: 916-321-1052, @BenjyEgel