RealGM

during the game tonight they interviewed Gavin Maloof about the arena situation. GM said an Australian company and another company (forgot their names) are interested in teaming up to provide funding for a new arena.

This could all end up as nothing, but I think it is more hope for a future arena deal.

pacific property

i think thats what it was.

Here's the info you're looking for.
http://www.sacbee.com/arena/story/2480899.html

The companies name is Macquarie Group Ltd. and they are based in Sydney Austrailia
By the looks of things they're serious folks. This is taken from the above article

"But the Macquarie plan is the only one to win the endorsement of the NBA and the Kings' owners, the Maloof family. And while the city would be expected to donate some land and possibly make other financial concessions, this proposal has substantial private dollars behind it. That's a significant contrast with the mostly taxpayer-financed scheme that was soundly defeated by voters in 2006.

"This is the one proposal that the NBA thinks has a great opportunity to succeed, and we're following the NBA's lead," said team co-owner Joe Maloof. "Right now, at least, it's got the financing behind it."

He confirmed that his family is willing to make roughly $300 million in lease payments, spread over 30 years, to occupy the new building. The Maloofs would also surrender the family-owned Arco Arena and 80 acres around it to create a new home for the State Fair.

Macquarie is a multibillion-dollar investment banking firm with 12,000 employees and a staggering array of businesses. It helped finance construction of the Olympic Stadium for the 2000 Summer Games in Sydney and once owned a majority stake in that city's airport. Its subsidiaries trade electricity and natural gas, lease rail cars and make residential mortgages. It owns and operates the South Bay Expressway toll road in San Diego, plus toll roads in Chicago, Indiana and Virginia."



This plan looks like the most promising. The company is a huge conglomerate, the NBA has thrown in its weight behind it, it proposes building the arena downtown which really is the best place, and the best part is it looks like they could do it all pretty much by themselves which means no new tax initiative. At the same time we must remember that this is only one of I think seven proposals, so there's no guarantees this one will be chosen.

Also on the subject of posting articles; I looked around on the realgm website for their rules and regulations on posting news articles but I couldn't find it for some reason, I know it exists because I've read it before. So if I screwed up I apologize.

Magic Johnson has a role in the arena? The Natomas ESC group does not want the Arena to leave Natomas and has found financing to build the project. I hope they fix the levees in time.