Seattle Approves New Arena

By Rick Horrow and Karla Swatek

September 14, 2012

The Seattle City Council and investor Chris Hansen have reached a tentative deal to build a $490 million arena in the city’s SoDo District. Hansen still must secure a NBA team before the city or county issue construction bonds. If Hansen can acquire both a NBA and NHL team, the city and King County would contribute $200 million to the project. If just a NBA team were brought in, the public sector would give $120 million.

The most obvious NBA team known to be available is the Sacramento Kings, whose own arena deal fell through earlier the year. Securing a team could take anywhere from a few months to a few years, but knowing an arena is ready to be built is encouraging for Seattle basketball fans. However, like Seattle losing the Sonics in 2008, the new team would come at the expense of another NBA city.

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