The cost of building the Sacramento Kings' new arena, the Golden 1 Center, has jumped an additional $16 million, bringing the current price tag to $534.6 million.

The city's subsidy is capped at $255 million and the owners of the Kings have been taking care of most of the cost increases themselves. The latest increase will be picked up by corporate partners expected to play roles in operating the facility.

“The number reflects previously planned enhancements to the project and cost exposures ultimately borne by various partners,” Kings President Chris Granger said in a prepared statement.

The arena was initially expected to cost $447 million.