NBA Commissioner David Stern has endorsed the most complicated of the new arena plans recently submitted to Mayor Kevin Johnson's task force, and not surprisingly, his reasoning relates to funding.
Local developer Gerry Kamilos - with financing provided by the Macquarie Capital of Australia and Pacific Coast Capital Partners of California - is proposing a downtown sports and entertainment complex on the city's 33-acre portion of the downtown railyard.
As Stern reiterated in a conversation on Tuesday, the most contentious issue is not where a new arena for the Sacramento Kings should be located, but how an arena would be financed.
"It's still up to the task force," said Stern, noting the complexity of an arrangement involving a land swap. "But the money is there this time, and that's good. Moving ahead, we need the mayor, the city council, the county guys, the Cal Expo board, the legislature - it's very difficult. But I haven't heard any loud squeals (of dissent). I think this has a chance."
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