AEG Talks Sacramento Project

The Sacramento, Calif., City Council voted 7-2 to move forward on exploring construction of a $387 million sports arena as the future home of the NBA’s Sacramento Kings and seeking a facility management company.

The council approved a plan to spend $555,000 over the next six months on consultants to discuss potential financing options and legalities of an arena, according to the Sacramento Bee.

Sacramento Mayor Kevin Johnson and staff met with Anschutz Entertainment Group officials in Los Angeles Sept. 23 to explore the company’s potential interest in providing upfront financing and operating the facility.

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

AEG is also part-owner of ICON Venue Group, the company Sacramento officials are in the process of hiring to head the arena construction team.

Under the recently approved agreement, the city council has until March 2012 to come up with a solid arena plan, the Bee said.

The arena project has been an ongoing topic of debate for some time, with team owners the Maloof family pushing for a replacement for the Kings’ aging, 17,000-capacity Power Balance Pavilion, formerly Arco Arena.

The Maloofs passed up a chance to move the team to Anaheim in May but promised the team will leave after next season if a new arena isn’t in place.