As blogged by the irreplaceable Argus, an important detail as yet unspecified by the politicos has come out of the nuts and bolts of the arena deal: The “26-30%” figure cited as the Maloofs share of building the arena is actually the calculated cost of their rent payments over the 30 year loan (half of which would be paid after the tax is phased out) plus the other stuff they promised to pay, like the campaign fund, the capital costs and the loan they already have on the books with the city. You have to look closely to realize that they will not pay a cent for the concrete and steel to build the building. What they will pay is “a figure equalling 26-30% of the construction costs of the arena.” The JPA will be building the arena with tax money.
The Sac Rag 
Not that they’re not entitled to spend their money as they wish … but I’m watching the horse racing from the Del Mar Thoroughbred Club (near San Diego) while I work and just saw another of the Maloof’s pricey ponies go by on the screen. Really makes me feel less charitable about the idea of support these guys with my tax money …
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