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April 16, 2013 at 12:53 PM
Chris Hansen and the city have agreed on a deal that — if the Sonics return to Seattle — will guarantee rent and city jobs at KeyArena while a new arena is build in Sodo.
The agreement guarantees that all current city employees at the arena keep their jobs with the same salaries and benefits when ArenaCo takes over operation of KeyArena in July, according to a news release from Seattle Mayor Mike McGinn.
“This agreement increases revenue to the City from KeyArena, realizes a great private investment in a Seattle landmark and will add to the vibrancy of the Seattle Center by helping bring the Sonics home,” McGinn said in a statement.
The agreement with ArenaCo will guarantee the city at least $2 million in use fees annually, according to the release, with additional income based on ticket sales and whether a hockey team also plays there.
Of the improvements Hansen makes to the arena, at least $3 million worth must remain behind when the team leaves. The could include upgrades in seating, technical and security systems and improvements to locker rooms and the concourse.
April 8, 2013 at 1:39 PM
Billionaire Ron Burkle, part of the group trying to keep the Kings in Sacramento, won’t take an ownership stake in the team but instead will focus exclusively on building a new arena there, the Sacramento Bee reported today.
Following a meeting last week with a committee of NBA team owners, Burkle decided not to buy into the team, The Bee reported, adding that some NBA executives had expressed concern that Burkle faced a potential conflict of interest.
He is part owner of a company that manages pro athletes’ careers, including several NBA players. The potential ownership group would be controlled by Vivek Ranadive, Mark Mastrov and the Jacobs family of San Diego, who are competing with a group headed by Chris Hansen that is trying to move to team to Seattle.
April 4, 2013 at 10:30 AM
As Chris Hansen and Seattle compete with Sacramento for the NBA’s Kings, a tentative court ruling last week could present complications to quickly building a new arena in Sacramento, the Sacramento Bee reports.
The ruling, in an unrelated case, involves a new law designed to fast-track major construction projects that face legal challenges on environmental grounds, the newspaper reported.
At least one Sacramento official told The Bee that he is not concerned.
March 14, 2013 at 3:14 PM
Fresh off Wednesday’s release of new renderings showing the inside of the planned Sodo arena during Sonics basketball games, investor Chris Hansen today released drawings of the arena set up for hockey.
“The bottom line is as good as this is for basketball, it is an even better building for hockey,” Hansen wrote.