The Bee's crack team in Orlando has the details of how the new entertainment and sports complex in downtown Sacramento would be paid for under the deal brokered on Monday by the Maloofs, David Stern and the city. In bullet form:
- Maloofs contribute $75 million in upfront lease payments.
- AEG pays $60 million to become the operator.
- City leases out the parking infrastructure for $200 million.
- The Maloofs pay off their $67 million city loan, and take out a longer-term loan with new revenue as the collateral.
- All events at the new building will include a 3-5 percent ticket surcharge. This money will go to Sacramento's general fund to help replace the parking revenue. They have estimated $75 million over 30 years.
- The city will collect the revenue from the leased out parking lots during arena events; during Kings games, that money will be split with MS&E. (So the parking operator will be taking non-event revenue from the structures and lots. So, from downtown workers and visitors, basically.)
- The deal between the city and AEG will work similarly to the one in Kansas City where revenues over a certain level are shared with the city.