Friday, February 17th, 2012 at 9:50 am  |  32 responses

Seattle Presented With $290 Million Arena Plan for New NBA Team

Seattle’s dream of getting an NBA team again continues to move forward, as wealthy businessman Christopher Hansen proposed a $290 million plan for a new arena that could attract a new pro hoops team to the city. From the Seattle Times: “Christopher Hansen is making a $290 million proposal to his hometown that could be the impetus for a new sports arena that could bring the NBA and NHL to Seattle. All he needs is city and county approval equaling $200 million and the two franchises to make it a reality. Hansen, a hedge-fund manager based in San Francisco and a Seattle native, submitted a proposal to the city on Thursday that calls for $290 million in private investment toward the construction of a new arena that would cost between $450 and $500 million. Hansen and his investment group would also be responsible for the purchase of an NBA franchise and finding a partner interested in bringing an NHL franchise to Seattle as well. The proposal represents the first significant step toward solving the arena problem that was at the root of the SuperSonics’ move from Seattle to Oklahoma City following the 2008 NBA season leaving behind 41 years of history. The proposal will now go before a review board – a group of community leaders that includes one-time SuperSonics player and coach Lenny Wilkens – with King County executive Dow Constantine hoping their review can be completed within a month. According to a letter submitted by the Hansen, the remaining construction and development costs would be financed by the city and King County using taxes and revenues generated by the new facility and rent charged to the teams playing in the arena – money that will not exist if the arena isn’t built. City officials are adamant that there will be no new public taxes needed for the building and the city’s portion of the investment will be capped at $200 million with any additional cost overruns paid by the private investors.”

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  • Hanoon

    290 millino?? i wonder if millino is a name, sounds like one

  • http://www.boogiewilliams.com Boing Dynasty

    Do Seattle fans get sick everytime they see KD and Wussle showing out for OKC? Anyways you guys can have ‘Reke & Cuz in a cpl years.

  • logues

    i heard on the radio they were talking about the blazers moving to seattle… that wouldnt be good… but i hope they bring a team to seattle. bring back the sonics!!!!!!!!

  • http://www.slamonline.com aman from arkansas

    Why don’t teams try Cincinnati, Pittsburgh, or Las Vegas and maybe Montreal and Baltimore.

  • Brion

    Been following this story closely on local sports radio, theres alot of things that have to align to make this happen still. Unfortunatly we would have to take the Kings from Sac (which I hope we dont have to do) or New Orleans which the NBA owns. The Hornets are having attendance issues and seem to primarly be a football town. Either way it will get ugly but we deserve to have our Sonics back. MAKE IT HAPPEN CHRIS HANSON!

  • http://Aol.com Kyle

    Can’t have a team in Las Vegas due to gambling . Montreal would be tight though.

  • Sean B

    Seattle should have never lost a team in the first damn place… at least they are going to give the Sonics brand back. I hear part of the reason the Bobcats can’t draw in Charlotte… is because the locals grew so attached to the Hornets brand(it was Charlotte’s first pro franchise) that the pathetic Bobcats(seriously gotta be the weakest ‘team’ name in sports) are viewed as the ugly redheaded stepchild.

    Fortunately Seattleites won’t have that issue because they still get to keep the Sonics brand… even if they did miss out on a legendary HOF career with KD.

  • http://slamonline.com nbk

    Chris Hansen? Is it the Dateline arena?

  • Brion

    Although it would be tough to watch K.D. and the boys with WNBA jerseys come to town and spank us til we get some good draft picks. Im getting way ahead of myself.

  • RunNGun

    Good bye NOLA… hello SEATTLE!

  • LA Huey

    Hide your teams, hide your wife, and hide your husbands too because we’re going to attract everyone out here.

  • http://slamonline.com LakeShow

    LAHuey, lol. Brion, What up!? Exciting news eh? Where is sikhwitit at? Those are the only Seattle Natives I know on here. Exciting times for Seattlites. My family, friends, and business associates are calling me with updates daily. The words “tax and “sports” in the same sentence scare off most of the liberals in the area. They think that all school teachers should get NBA like contracts so a proposal must be made that keeps tax payers out altogether. It will happen though. Mark my words, Sonics will be back within two years, just a block away from the Seahawks and Mariners. :) :) :)

  • http://www.nba.com VanCityBBall

    obviously im a little bais toward having a Vancouver team but i am really happy for seattle for stepping up to the basketball world

  • Jamaal87

    Bring back the OKC Zombie Sonics!

  • LAguneroFan

    @Brion hahaha “the boys the wnba jerseys” huh

  • LAguneroFan

    ^ with

  • manu

    Chris Hansen = David Stern. It’s what they’re calling him in Seattle.

  • http://www.pisforprops.com jarrett

    not gonna happen. An arena cost 290 Million. If Hansen wants to by a team thats another 400 million. To move a franchise is another 30 million. And, the arena won’t be built unless there is already an NBA team in Seattle. They dont have the money or the team to pull this off.

  • http://www.slamonline.com aman from arkansas

    If Las Vegas can’t have a NBA team cuz of gambling why not jus eliminate nba betting. It make sense las vegas can support a nba team.

  • LA Huey

    I think LakeShow’s exaggerating a bit with his characterization of Seattle liberals in their support for teachers but they are hypocritical. They don’t mind sinking public funds into art projects (like this glorified greenhouse they love) but won’t help out sports fans get their fix.

  • Hart26

    Dont get rid of the Kings. Move the Hornets to Seattle

  • Brion

    What up Lake,ya im getting stoked,they broadcasted the proposol on air yesterday and practically the first thing they said was this proposal is guaranteed NOT to take one penny from taxpayers (cuz your right the liberals think petty things like better schools are more important for some reason). They also boasted that it would be a no brainer cuz of the thousands of jobs in construction alone it would create as well as all the money it would generate to boost the local economy. Part of the proposal is contingent on getting a pro hockey team as well (which isnt my bag but if it means a Sonic team then great.)

  • EJ

    This makes no sense they wouldnt create enough of a revenue for the league to approve it they already left seattle for a reason. It wont happen.

  • Brion

    @Jarrett, Chris Hansen isnt buying all this him self,he has a proposal with various investors. Hes just the guy trying to put it all together.

  • http://slamonline.com LakeShow

    Brion, I wouldn’t say better schools is petty, but I get your point lol. I’ll be in Seattle in two weeks and can’t wait to talk to some insiders on what the plan is going forward. I’ll be moving back to Seattle within a couple/few years and this just adds such a sweet sensation for coming back home. Hockey ain’t my gig neither, but Washingtonians have been going crazy for Hockey for over the last couple years. I went to a few Silver Tips games and actually had a great time despite not knowing any rules or anything. So we’ll take a hockey team also while we are at it. Anyway… just so glad to hear this because that is a great basketball area in the 206,425,253 area and they deserve to have their Sonics back!

  • http://slamonline.com Brion

    I was kidding about the schools, but ya I dont want to get over excited because its far from done, but it feels closer than its been since losing them. lets keep our fingers crossed.

  • http://slamonline.com Brion

    @EJ,the league said we didnt create enough revenue before because our Arena was too small. Combine that with the fact the product on the floor was bad for a long time…fans can only take watching scrubs like Robert Swift, Antonio Daniels for so long. We were so bad we finally got a good draft pick (Durant)… then they bailed. If we had the same line up now as the Thunder have now, we would sell out all home games. Remember the Sonics were in Seattle for 40 years, so ya theres a fan base.

  • abaci

    Im a Sonic fan and i like the kings. sorry NOLA but give up your team

  • dma

    what sucks is that i can see paul allen in portland gutting the team and moving/selling. that would make me really unhappy. with the exception of lamarcus aldridge, wes matthews and rookies, all his salary would be off the books by next summer. talk about eerie timing.

  • gusisit

    rename the “bobcats” the hornets and move the hornets to Seattle. bam

  • http://thetroyblog.com Teddy-the-Bear

    If I had to choose between tax money going towards teachers and better schools, or a $290 million arena for a new basketball team that might not even come… I’d choose the arena. Duh.

  • http://thetroyblog.com Teddy-the-Bear

    Sorry that was mean. I meant “for a new basketball team that *will come.”