Podcasts & RSS Feeds
Most Active Stories
- Here's What The Big I-90 Closure Will Look Like. How Will You Survive?
- Study Finds MRSA 'Superbug' Lurking At Washington Firehouses
- 5 Reasons Eating Bugs Could Save The World, According To Seattle's Own 'Bug Chef'
- When A Bomb Goes Off During Your Study On Trauma: New UW Findings On PTSD
- Report Shows Coal, Oil Trains Would Quadruple Rail Traffic, Alarming Lawmakers
News & Music Contributors
Seattle Arena Deal
Wed May 16, 2012
Agreement reached on Seattle arena plan
The city of Seattle, King County and investor Chris Hansen have reached an agreement in the effort to build an arena that could bring professional basketball back to the Puget Sound.
The memorandum of understanding announced Wednesday now goes before the City Council and King County Council for approval.
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 and would be capped at $120 million if it's only an NBA team. The agreement calls for $290 million in private investment.