Tyreke Evans wasn’t the only one scoring points at ARCO Arena on Thursday, April 8. MetroEDGE hosted a “Business of Basketball” Mixer in the ARCO Arena East Lounge for members and their guests prior to the Kings vs Clippers game.
Maloof Sports & Entertainment Sr Vice President of Business Operations John Rinehart spoke before sixty people on the expenses, revenue and unique challenges of operating a professional sports franchise. In addition to to the Kings home games, ARCO Arena hosts an additional 120-150 events a year ranging from Disney on Ice to Black Eyed Peas.
And although one of its biggest expenses is the payroll of its NBA players, it also employs over 1,500 local residents making it one of the largest employers in the region.
Surprisingly, ticket sales is not the biggest nor only source of revenue. A large percentage of income comes from broadcast contracts, including the NBA’s national contracts with networks such as TNT, ESPN and ABC.
Corporate sponsorships, parking, merchandise and concessions are only some of the ways local revenue is produced for the organization. Deciding to test the numbers, MetroEDGE members “investigated” the concession stands and bars for further research.
In addition to being an informative night, it was also entertaining with the Kings beating the Clippers 116-94 and Rookie of the Year candidate Tyreke Evans scoring 28 points on his way to a historic season.
Plans are underway to host the next MetroEDGE Night with the Sacramento Kings. For ideas and suggestions on next season’s event, post your feedback on www.facebook.com/metroedge.
To learn more about the current issues and proposals related to a new Sports and Entertainment Contest, visit http://www.sacramentofirst.org.
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