ANALYSIS : Key Question: Will Arena Ever Be Built?

Promoter Joseph M. Cohen was asked Wednesday what needed to be obtained before the new sports arena proposed for the Kings and other professional franchises can be brought to fruition.

“Decent land, entitlement, talent, sales, financing,” Cohen responded in a succinct statement that seemed to mean: Everything.

And that answer, if the recent past in the Los Angeles-Orange County area is any guide, indicates that the odds are against success in the venture, estimated to cost $125-150 million.

This is at least the seventh major new stadium or stadium renovation proposed in the two counties since the Raiders made a deal to move to Irwindale in 1987. Only the new Anaheim arena has actually been completed pretty much as initially announced.

The Coliseum was renovated this year, but far less extensively--and at less than a tenth the expense--than had been projected.

New stadiums in Irwindale, Santa Ana, Burbank and atop the Los Angeles Union Station and a complete renovation of the Sports Arena have not been consummated, although a couple of the plans continue to be discussed. A few other proposals have been one-day flashes in the newspapers.

The reason for such a poor record of accomplishment, essentially, is that financing has not been available. This is in part because of the recession that has plagued Southern California since 1990, and also because changes in tax laws have made purchases of luxury boxes and club seating far less attractive to the corporate buyers who would otherwise make up the heart of the clientele.

But other difficulties, such as environmental restrictions, political opposition, court orders, toxics problems and site unavailability, also have stood in the way of stadium projects.

Even the one new stadium built--in Anaheim--is not likely to become profitable until a second professional franchise is obtained to complement the Mighty Ducks of the NHL.

Many inspirational announcements have been made like Wednesday’s, but in most cases talk has been cheap.

Statements in person or in writing Wednesday by Kings Chairman Bruce McNall, Jeffrey P. Sudikoff, chief executive officer of the IDB Communications Group Inc., and Cohen, an IDB director, were vague in most details, but it seemed clear that they don’t have the wherewithal to build their arena without a substantial marketing program first.

And it would seem extremely important that Jerry Buss, owner of the Lakers, joins in their efforts.

Buss released this cryptic statement after Wednesday’s press conference: “I will be interested in what Bruce, Jeffrey and Joe have to present as I am very interested in a new sports complex for Inglewood. If there is an opportunity for us to participate, we’ll be glad to be part of it.”

That could mean a great deal or nothing.

Looking on with interest are the operators of the Coliseum complex, which includes the Sports Arena. A new arena would be a direct competitor.

Cohen left the board of the Spectacor Management Group, managers of the Coliseum and Sports Arena, only last week. Spectacor’s contract with the Coliseum Commission forbids the company from getting involved in other stadium projects within a 75-mile radius.

While Cohen appeared within his rights as a free citizen to change employment, Coliseum officials noted with some sarcasm Wednesday that one of the chief consequences of their Spectacor management deal seems to be that officials come out here with the Philadelphia-headquartered company to work on the Coliseum complex and seem to end up helping the competition.

Tony Tavares, a former Spectacor president, is now president of the Mighty Ducks, playing at the Anaheim Arena. Cohen has left as president of Spectacor West, overseeing the company’s operations in Los Angeles, to try to build another competing facility. And there was some question whether Spectacor was not violating the 75-mile rule in helping authorities in Santa Ana try to build an arena there.