This week will see Mayor Johnson’s financing plan for the downtown arena, which Johnson calls “the city’s greatest economic opportunity since the building of the Transcontinental Railroad.”
At least in the Bee report, the Maloofs seem cautiously optimistic and willing to play ball, though they do want to see a solid plan:
Maloof said he is holding the city to the March 1 deadline. “They’ve got to deliver. Everything has to be in place, ironclad. No risk. No ifs.”
No risks? Sure, sure, sounds like a plan. For example you wouldn’t want to take on a risk that your major tenant can’t make rent payments, right?
Maloof has said the Kings only want to be tenants, not operators, of the new arena, and warned the team doesn’t have much money for rent payments.
Not sure how Maloof expects the City to handle the risk of Maloof not being able to make rent.
I would personally hate to lose an NBA franchise–and though I have been critical of the Maloofs in the past, I guess it is pretty standard to be completely beholden to the team even when their commitment is in question. It is just business, after all.