Speaking to Bryan May of News 10, Sacramento Mayor Kevin Johnson today said that the Sacramento Kings new arena will be ready to open in 2016.
@KJ_MayorJohnson says the new arena will be open in 2016 and finishes his live interview on News10 with “Long Live the Kings”
While the NBA still needs to vote on the pending ownership transfer which was agreed to last evening (the vote is nothing more than a formality), the large scale entertainment venue is expected to be built without any significant road blocks.
Prior to yesterday’s transfer of ownership, JMA Ventures, a San Francisco based company behind the arena proposal purchased the men’s Macy’s store at the Downtown Plaza – the final parcel that needed to be acquired to build the arena.
Ron Burkle, who was originally part of the ownership group (now headed by software tycoon Vivek Ranadive) attempting to keep the Kings in Sacramento before he had to bow out due to a conflict of interest (Burkle is partners in a sports agency) is expected to contribute to real estate around the arena. Sacramento developer Mark Friedman, who is also now part owner of the Kings and is the heavyweight behind the arena construction, is also expected to help revitalize the downtown area with non-arena real estate investments as well.