As part of the successful effort to keep the Kings in Sacramento, an ownership group led by Vivek Ranadivé purchased the majority stake in the team from the Maloof family, with the city agreeing to partner with the Kings to build a new arena by 2016. Construction began October 29, 2014. Turner Construction, known in the Sacramento area for having built Terminal B at Sacramento International Airport and other projects, was the construction manager for the new arena.

The Kings' previous owners, led by the Maloof family, first proposed a downtown arena in 2012. The arena's estimated cost was $391 million. The City of Sacramento would have paid $255.5 million, the Kings would have contributed $73.25 million, and AEG was going to contribute $58.75 million.


The Kings decided to name the street leading to the front door of the arena in honor of former NBA Commissioner David Stern, whose persistent, decades-long efforts helped keep the franchise in Sacramento. Officially, the address of the Golden 1 Center is 500 David J. Stern Walk.

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