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County, city officials approve revised Seattle arena plan

Oct 15, 2012, 6:48 PM EDT

Seattle AP

King County and Seattle city officials approved the revised Seattle arena plan that could eventually attract an NBA and NHL tenant, King 5’s Chris Daniels reports.

King County officials reached their decision unanimously (9-0) while Seattle city council members approved it by a 7-2 vote, according to Daniels.

The people behind the arena plan have stated that the top priority of this measure is to bring in an NBA team. In fact, they said there isn’t an “NHL-only” plan.

Here’s a little more information on the arena plan, via Daniels’ report.

Investor and hedge fund manager Chris Hansen wants to build the $490 million arena south of Safeco Field and has already snapped up $53 million in land for the project. Monday’s approval by the two councils means Hansen can now begin shopping for an NBA and NHL franchise.

The deal reached with the two councils calls for up to $145 million in public financing if Hansen can get one team to fill the building. Public financing would be $200 million for two teams.  The financing would be paid by arena-generating revenue and includes no new taxes.

The group obviously hopes to fill the void left by the departed Seattle SuperSonics, but that doesn’t mean that they’d be against adding a professional hockey tenant.

Daryl Katz’s Edmonton Oilers ownership group made some noise by flirting with the market a bit a month ago, for instance.

  1. mpg44 - Oct 15, 2012 at 7:14 PM

    Would need an NHL first!!

    • blomfeld - Oct 15, 2012 at 7:32 PM

      Don’t worry friend, as we’re going to have that back shortly here. Anyway, this development in Seattle is excellent and it’s completely consistent with “intelligent” business making. I just hope though that they land a team through relocation, as opposed to placating “greed” with another expansion franchise.

      • mpg44 - Oct 15, 2012 at 9:08 PM

        I think, for once , I do agree with you . And thank you for no stupid video! Maybe we can all coexist !

      • mpg44 - Oct 15, 2012 at 9:12 PM

        However ….. I do assure you that as I may watch on tv , since I allready get the channels, I will not buy any goods or attend any games other then my local echl team. This is my strike now! If my wishes are not good enough for them to stop the bickering , them my money is not going to be there to bicker over!! Much like this lockout to work it will last a while so will my part of this!! I encourage all to do the same and show them all who’s league this really is!!

      • blomfeld - Oct 16, 2012 at 1:23 AM

        Person A: Who is this “Miles Per Gallon” guy ?

        Person B: I’m not sure friend, though I suspect he may work for the EPA or something ?

        mpg44 – yes, I’m also glad that we can agree on something ! :) … though do keep in mind that this should always be about “good times” too eh ? … anyway, this Seattle development is terrific and I hope that it signifies the start of a “new and intelligent” direction for our NHL !

        ps: sorry about the video omission … please enjoy this “catchy” little number by the King !

  2. bleedingteal4life - Oct 15, 2012 at 8:26 PM

    Make it official with a b ball team and then seal the deal with hockey.

  3. manchestermiracle - Oct 15, 2012 at 8:42 PM

    Smart move with the “no NHL-only” plan. The NBA team will be paying the bills about the time the NHL goes into another lockout.

  4. dbara43 - Oct 16, 2012 at 8:07 PM

    There is still an NHL-only arena deal rumored for Bellevue, the one Gretzky is rumored to be tied in with. I would favor that as I’m never going to bother with going to another Ghetto Basketball Association game in my life. For me, it’s NHL or nothing.


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