Maloofs Back Sacto Plan
The Maloof family that owns the Sacramento Kings and the NBA are championing a proposal to build a new arena and entertainment complex in the California capital.
The proposal, submitted by developer Gerry Kamilos, calls for the relocation of the Cal Expo fairgrounds to the team’s 22-year-old Arco Arena site, and the construction of a new facility downtown.
Sacto officials have warned voters for years that without an updated arena, the Kings may leave the region.
Kamilos’ plan was one of seven recently submitted to the city’s arena task force, which is expected to review each of the proposals and report back to Mayor Kevin Johnson by March 11, according to the Sacramento Bee.
While the Kings have reportedly already agreed to put $300 million toward Kamilos’ plan by signing a 30-year lease with annual rent of $10 million, city officials aren’t ready to endorse the proposal just yet.
Task force chair Chris Lehane told the paper that after reviewing all proposals, the group may decide to cobble together parts of several different plans.
“Once you have all these ideas out there,” he said. “It’s potentially in the city’s best interest to take a hybrid approach.”