NBA In Seattle: Arena Construction OK'd To Start Once NBA Team Is Secured, According to Report

According to multiple sources including King 5 in Seattle, construction for a new downtown sports arena has been OK'd to begin once they have gotten an NBA team in place, after the city of Seattle, King County and San Francisco based hedge-fund manager Chris Hansen agreed to a memorandum of understanding on Wednesday.

The agreement adds a new wrinkle to an original proposal in that an NHL team is no longer needed to start construction. Only an NBA team, with a non-relocation agreement signed, is needed to begin construction on the proposed 18,500-seat facility.

The city/county investment in the project would be capped at $200 million if both an NBA and NHL team are acquired. The city would cover $120 million and the county would pay $80 million.

The agreement also calls for $290 million in outside funds, while no NBA or NHL team has committed or even strongly signaled a move to Seattle could be in their near future.

Hansen, the man spear-heading this project, still faces a number of obstacles on the road to brining the NBA back to Seattle, including serious traffic concerns voiced by the Mariners in and around the SODO area of Seattle. Still, this is a huge step forward for the NBA's return to Seattle.

For more on Seattle's new arena saga, make sure to follow our StoryStream and SB Nation Seattle.

Check out the SB Nation Channel on YouTube

Trending Discussions

X
Log In Sign Up

forgot?
Log In Sign Up

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

By becoming a registered user, you are also agreeing to our Terms and confirming that you have read our Privacy Policy.

Join SB Nation Seattle

You must be a member of SB Nation Seattle to participate.

We have our own Community Guidelines at SB Nation Seattle. You should read them.

Join SB Nation Seattle

You must be a member of SB Nation Seattle to participate.

We have our own Community Guidelines at SB Nation Seattle. You should read them.

Spinner.vc97ec6e

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.