Mr. Barrett worked closely with Mayor Kevin Johnson to help keep the team in Sacramento when the previous owners of the team reached tentative agreements to relocate on two separate occasions (Seattle/Anaheim). The Golden 1 Center is expected to open in 2016. The arena will have a basketball capacity of 17,500 and offer premium seating such as luxury suites, loge boxes, and club seats.
The Golden 1 Center is being constructed adjacent to 1.5 million square feet of retail and restaurant space, an important element to the City. The LEED Gold certified arena will feature modern environmental and technological features. CAA ICON Strategic Advisory provided the following tasks to the City, among numerous others: primary strategic and financial advisor to the City; lead negotiator on behalf of the City; interacted with Kings owners and staff, as well as NBA league representatives; interacted with bond counsel, investment banks and other City advisors; participated in City Council briefings/meetings; assisted in development of financing plan and identification of alternative financing options; completed market demand surveys and focus groups; and, evaluated arena management alternatives.
Mr. Barrett and his team played an instrumental role in negotiating and structuring a deal for the development of an arena and the redevelopment of the Downtown Plaza in Sacramento, California. Mr. Barrett assisted in the development of the financing plan and negotiated the transaction on behalf of the City. The City-owned arena, the Golden 1 Center, will be the home of the NBA Sacramento Kings and other events. The new arena and change in team ownership ended years of speculation regarding the potential relocation of the team.