Blog Entry

Report: Seattle has a new arena deal

Posted on: February 16, 2012 10:16 am
Edited on: February 16, 2012 4:10 pm
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Posted by Royce Young

If you build it, maybe the NBA will come. At least that's the first step in bringing an NBA team back to Seattle. It's not happening otherwise.

And after almost a decade of trying to get a new arena in Seattle, it looks like it finally might be happening, according to King 5 in Seattle:

A press conference is scheduled on Thursday to announce the framework of a new sports entertainment complex in Seattle SoDo neighborhood. KING 5 has learned Seattle Mayor Mike McGinn, King County Executive Dow Constantine, and hedge fund manager Chris Hansen are still working to finalize a term sheet.  A high ranking county leader says right now, the deal includes substantial private financing, with some debt backed in some way by the City and County, repaid through admission fees and “arena generating revenue.”  

The final terms are expected to be hammered out Thursday morning, and some council members were expecting a briefing prior to the announcement, scheduled for 2 p.m. at City Hall.

Back in December, Hansen’s Valiant Partners of San Francisco reportedly purchased a three acre piece of property south of Safeco Field, for $21 million.

Once an arena is built, or even an official deal is in place, the focus will all turn squarely on getting a team. Because that's the whole idea here. They aren't building an arena just to have for concerts and WNBA games. The Kings are the obvious option are they're situation in Sacramento is very much up in the air. Which would be ironic that the city of Seattle would take away a team that another city is desperately trying to keep.

The other obvious option, which makes so much more sense, is to move the New Orleans Hornets to Seattle. First, the Hornets are in horrible shape in New Orleans. But second, with the NBA owning the Hornets, it would almost be a way for David Stern to extend an olive branch for being part of the group that allowed the Sonics to leave for Oklahoma City. This option probably isn't happening as Stern is looking for a local New Orleans buyer that will keep the team there, but still, that one makes a lot more sense than poaching the Kings.

But before the NBA even arrives, it could be an NHL team that finds its way to Seattle's new arena. CBSSports.com's Brian Stubits took a long look at Seattle as a hockey market and the conclusion is, it could work. Really well.

And having the potential for a full-time tenant could be almost as important as the arena itself. Because that makes the arena a valuable asset and makes it a worthwhile build. So really, the NHL might be the the path for the NBA returning to Seattle. How about that?
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Category: NBA
Comments

Since: Aug 21, 2006
Posted on: February 17, 2012 7:20 pm
 

Report: Seattle has a new arena deal

SkyHawk, check the post I was responding to. The poster was arguing that if a city had a team and that team moved, then the city had proven it couldn't handle having a team and shouldn't get a second chance. The poster then used Atlanta and the Thrashers as an example, which I thought was strange example to use since the Thrashers are now the second coming of the Winnipeg Jets and doing quite well. Get it?
Not really, because Winnipeg's hardly proven it's going to work long-term. The Jets are off to a good start, but the Thrashers lasted 12 years in Atlanta's second chance. Your comment was a very strange one for now. It'd make sense if the Jets are still around in 2030, but for now, the Thrashers are the example of why some markets shouldn't get another chance, not why they should.



Since: Oct 22, 2007
Posted on: February 17, 2012 8:19 am
 

Report: Seattle has a new arena deal

Um, playing in Winnipeg, which makes that a strange comment on your part.



SkyHawk, check the post I was responding to. The poster was arguing that if a city had a team and that team moved, then the city had proven it couldn't handle having a team and shouldn't get a second chance. The poster then used Atlanta and the Thrashers as an example, which I thought was strange example to use since the Thrashers are now the second coming of the Winnipeg Jets and doing quite well. Get it?



Since: Jun 7, 2008
Posted on: February 16, 2012 7:52 pm
 

Report: Seattle has a new arena deal

Except, the only reason we lost the team is because David Stern and Clay Bennet are good buddies... if not for that chronyism, Sonics are still in Seattle. Stern and Bennet lied to the people and legislaters, and we decided to kick them down the road... Good riddance, this new ownership group will rival the Steinbrenners in baseball.



Since: Jun 7, 2008
Posted on: February 16, 2012 7:45 pm
 

What a fantastic deal!!

Wow! what a great deal for the people of the PNW. This is even better than the Safeco deal, which took 0 taxpayer dollars and was paid off early by the fans of OTHER MLB teams!! Chris Hansen is a genious!!



Since: Aug 21, 2006
Posted on: February 16, 2012 6:30 pm
 

Report: Seattle has a new arena deal

The hell with Corporation...Let's go worker supplemental fund....Everybody's Union then!!!
And that's a good thing...how?




Since: Sep 29, 2007
Posted on: February 16, 2012 5:36 pm
 

Report: Seattle has a new arena deal

Man...If this is true well wow...I really wanna see a rivalry between Seattle and Portland. In the true fact Kobe is getting old. Griffin has to find his sophmore slump and the Kings need some excitement. I have been an Oregonian for the past 10 years but I grew up on the East Side of Tacoma.I was a Jr. Mariner and a Jr. Seahawk. You used to get kids in for free with an Adult ticket with your coupons. It was promoted by Bell Chips and Pepsi.
Nothing beat the Sonics back then...We paid for Gary Payton, Jack Sitka and the gang. I used to have a poster of the Ice Man and Lonnie Shelton. Go Sonics!
By the way it was a 45million payoff to keep the Sonics in Seattle. Before Bush that wasn't possible. The hell with Corporation...Let's go worker supplemental fund....Everybody's Union then!!!



Since: Aug 21, 2006
Posted on: February 16, 2012 5:30 pm
 

Report: Seattle has a new arena deal

That's a rather strange example to use, don't you think? I mean, while it didn't work in Atlanta, what are the Thrashers doing now?
Um, playing in Winnipeg, which makes that a strange comment on your part.



Since: Aug 21, 2006
Posted on: February 16, 2012 5:28 pm
 

Report: Seattle has a new arena deal

This would make more sense if Seattle and Vancouver were a bit closer together. Neither city showed they could support and NBA franchise on their own.
You're joking, right? Seattle showed it could support the NBA for 41 years and did support them until the end.
New Orleans has sold the 10,000 season tickets required for state assistance. They may be terrible this year, but the new owner will be able to change that. N.O is a basketball town, just see records for attendence when the Jazz were here; and they played in the Superdome.

Seattle lost their team to OKLAHOMA CITY, they should never get a team for allowing that to happen.
Seattle didn't allow anything to happen. The fans did everything they could to keep the team there, and the NBA kept changing its story to allow Clay Bennett to get a team where he wanted it. Seattle planned to renovate KeyArena, the NBA said they needed a new building. After the Sonics were hijacked, the NBA then admitted renovating KeyArena would have been enough for the Sonics. Bennett was just Stern's buddy, and Stern cared more about Bennett than he did about Seattle.



Since: Sep 29, 2007
Posted on: February 16, 2012 5:23 pm
 

Report: Seattle has a new arena deal

Sucks What!!! Hey have you ever been here?



Since: Sep 29, 2007
Posted on: February 16, 2012 5:21 pm
 

Report: Seattle has a new arena deal

Sweet...Come Back To Tacoma Bro! Seattle will be a preathra of talk radio again!


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