The Sacramento Kings are bracing for what might be tens of millions of dollars in uninsured losses, sources tell the Sacramento Bee.
The stoppage in NBA play and live events at Golden 1 Center is having a “tremendous impact to the bottom line,” saying “over half of the team’s revenue is generated from hosting ticketed events in the arena.”
The Kings' new policy will apparently make refunds available for all tickets whether games are officially canceled or not.
The Kings said they intend to communicate the following to ticket holders via email by May 18: “While we await more information from the league regarding the 2019-20 season, it is our commitment to provide flexible options to ticket holders regarding impacted games. Tickets already purchased for a postponed Kings home game are eligible to be credited towards the 2020-21 season or a refund is available upon request.”