According to King 5, construction on the new arena is expected to start in October of 2018 and be completed by 2020.
— Chris Daniels (@ChrisDaniels5) September 12, 2017
Per the Seattle Times, the lease would have two 8-year extension clauses triggered if OVG spends at least $168 million in KeyArena capital improvements and acquires NBA and NHL teams.
Los Angeles-based Oak View Group now plans to spend $600 million renovating KeyArena for NBA and NHL use and finish by October 2020, according to a new deal with the city of Seattle to be formally announced Tuesday. […]
The new 39-year lease has a pair of eight-year extension clauses triggered only if OVG spends at least $168 million in ongoing KeyArena capital improvements and acquires NBA and NHL teams.