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The cost of building Golden 1 Center has jumped an additional $16 million, bringing the current price tag to $534.6 million for the Sacramento Kings’ new downtown arena. The latest increase was revealed this month in a construction consultant’s report to Sacramento city officials. At $534.6 million, the price represents a 12 percent increase from the $477 million budget that was in place when the Kings broke ground on the arena in October 2014.
Storyline: New Kings Arena
With the city’s subsidy capped at $255 million, the Kings owners have been shouldering most of the cost increases themselves. However, the latest increase will be picked up by corporate partners expected to play roles in operating the building. The Kings would not identify those partners. “The number reflects previously planned enhancements to the project and cost exposures ultimately borne by various partners,” Kings President Chris Granger said in a prepared statement.
Diagnosed with a rare mitochondrial disease, NBA enthusiast Scottie O’Brien has found his escape through the game of basketball. Scottie’s love for the game has allowed him to build relationships with many of the League’s players, executives and coaches, who now refer to him as “Stats.” His journey recently brought him through Sacramento, where members of the Kings organization had the opportunity to meet the O’Brien family at the team’s Experience Center.