So Long Kings?
From June 2005
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“This is where everyone is getting it wrong,” he argues. “You can only measure an arena by what goes on around the facility (conventions, theatre, shopping, dining, etc.) to get a true indication of its value,” Dickinson says. “It’s no accident that over the past 12 to 15 years, new entertainment facilities have been built as part of downtown revitalization efforts. If it’s done right, they can take advantage of the facility as a destination to stimulate significant capital investment.”
Robert Wassmer, Ph.D. and a professor of public policy and economics at California State University, Sacramento, agrees. “If you can create an aura or buzz around an arena with various amenities, you stand a much better chance of keeping those dollars in the city. Many people know we have the Kings, but they couldn’t tell you Sacramento is the capital of the state.”
Attempting to do it “right,” as Dickinson notes, has been Sacramento’s Achilles’ heel so far. And Councilman Cohn predicts that every day Sacramento goes without a plan for a new arena is one day closer to the Kings possibly packing up and leaving.
Cohn is optimistic some kind of private financing involving a group of Natomas developers headed by former local-area Congressman Doug Ose will be made to get the arena built. “With some adjustments, I think it will happen,” Cohn says.
“There’s just too much at stake for it not to,” Dickinson agrees. “We may be on the cusp of defining an approach that will work with landowners in North Natomas,” he says.
The Aloof Maloofs
It all boils down to risk, contends Supervisor Dickinson. “Kings owners Gavin and Joe Maloof have been cool toward assuming a large financial stake in a new arena. The public’s appetite for government financing is equally chilly,” he says.
Dickinson sees beyond the horizon and believes a well-planned arena in the best location possible would significantly reduce the financial risk.
Continued...
Robert Wassmer, Ph.D. and a professor of public policy and economics at California State University, Sacramento, agrees. “If you can create an aura or buzz around an arena with various amenities, you stand a much better chance of keeping those dollars in the city. Many people know we have the Kings, but they couldn’t tell you Sacramento is the capital of the state.”
Attempting to do it “right,” as Dickinson notes, has been Sacramento’s Achilles’ heel so far. And Councilman Cohn predicts that every day Sacramento goes without a plan for a new arena is one day closer to the Kings possibly packing up and leaving.
Cohn is optimistic some kind of private financing involving a group of Natomas developers headed by former local-area Congressman Doug Ose will be made to get the arena built. “With some adjustments, I think it will happen,” Cohn says.
“There’s just too much at stake for it not to,” Dickinson agrees. “We may be on the cusp of defining an approach that will work with landowners in North Natomas,” he says.
The Aloof Maloofs
It all boils down to risk, contends Supervisor Dickinson. “Kings owners Gavin and Joe Maloof have been cool toward assuming a large financial stake in a new arena. The public’s appetite for government financing is equally chilly,” he says.
Dickinson sees beyond the horizon and believes a well-planned arena in the best location possible would significantly reduce the financial risk.
Continued...
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