Sleep Train Arena surcharge will help pay down Kings debt

The city is expected to approve a deal in which the Kings would charge a 5 percent surcharge on all events at Sleep Train Arena and pass those proceeds on to Sacramento to pay down the 1997 loan.

By Str Archive | 0 Comments | Feb 24, 2019

You'll remember that the previous owners of the Kings sought to have the 1997 loan (about $60 million) forgiven and the pre-development fees paid by the city. The Maloofs in fact argued that no team paid those fees; pretty much every team actually pays those fees.

The surcharge will go into effect soon, and will cover more than just Kings tickets. It comes out to $2 on a $40 ticket. Whatever remains on the loan in 2016 when the new building opens will be paid off or refinanced by the Kings.

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