The price of admission to Sleep Train Arena has just gone up 5 percent.
As part of a complex deal between the city and the Sacramento Kings for a new downtown arena, the team this month added a 5percent fee on tickets to all arena events. The funds will be used to speed up payoff of a $74million loan the city issued to the Kings in 1997 to help previous team owners refinance arena debt. The Kings still owe the city $62million, after making a $2million July payment, City Treasurer Russ Fehr said.
The fee is expected to be in effect for upcoming events, including a Josh Grobin concert in two weeks, Disney on Ice and Kings pre-season and regular season games.
The surcharge is part of a series of expected agreements between the team and city as part of a joint plan to build a $448million arena at Downtown Plaza.
Reported by Tony Bizjak of the Sacramento Bee
