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February 29, 2012 at 5:41 PM

Details of Sacramento arena deal emerge

The Sacramento Bee reports that city officials there will release details Thursday of the basketball arena deal reached earlier this week, and it includes a $255 million contribution from the city.

The official price tag of the arena was also bumped up from $387 million to $391 million, the paper reported.

Meanwhile, our own Arena Advisory Panel, appointed two weeks by Seattle Mayor Mike McGinn and King County Executive Dow Constatine, is meeting this evening to scrutinize the public-private partnership put forward by San Francisco hedge fund manager Chris Hansen for a Sodo basketball and hockey complex.

Hansen has said he and a group of private investors will contribute $290 million toward a $490 million state-of-the-art, 18,000-seat sports and entertainment venue. The public contribution would be capped at $200 million and would be repaid through taxes and rent generated by the arena.

The Kings have been considered the team most likely to relocate to Seattle if an arena deal is approved.

 

Comments | More in Government, Sports | Topics: arena, chris hansen hockey, kings

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