Quote:
Originally Posted by Schmoe
The first part of our post is not new news. That came out a week ago, and frankly, AEG's funding isn't needed since no one has to help the broke-ass Maloofs bridge the funding gap now.
The second part is a fallacy. There's no reason AEG couldn't run the arena just because it isn't contributing to its construction. AEG manages many venues it didn't help build.
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Yeah this is not news. Known for a long while now that Burkle was going to form some sort of arena management group to operate the arena on behalf of the city. Burkle and Mastrov will have to fill whatever gap was left by AEG.
I expect to see the city contribution around the same 252 million as last year and the team/arena portion to fill in the remaining. Not sure if they will split the Kings and arena management specifically, but it would make sense. So if the arena cost is 400 million, then the non-city portion is 148 - 150 million.
Plus Burkle is expected to start up non-arena development for DTP and K street at the same time. Word is the city is going to donate some of the property on K street as part of the city contribution.