Source: Sacramento Bee
Anschutz Entertainment Group had plenty of reasons to pass on investing $58.75 million in Sacramento's proposed downtown arena.
The region's economy? Still challenged. The anchor tenant, the Sacramento Kings, have been league doormats with a sometimes toxic relationship with the city. AEG's owner, Philip Anschutz, initially thought it was a bad idea.
But AEG committed to the arena anyway, reasoning that Sacramento is a long-neglected market that has nowhere to go but up.
"We think we timed the economy perfect," Chief Executive Tim Leiweke told The Bee during a visit to the city Tuesday. "You never go to an economy when it's at its peak. You go to an economy when it's at or near the bottom."
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