Tagged: NHL in Seattle

How would taxpayers be protected if a new basketball arena gets built in Seattle? The details are in an agreement between the city, King County and the man who wants to bring an NBA team to town.

After three months of meetings and negotiations, there’s now a formal Memorandum of Understanding between investor Chris Hansen and Seattle Mayor Mike McGinn along with County Executive Dow Constantine. In the fine print, it describes how Hansen will purchase the land south of Safeco Field, build a new basketball arena on it, and then sell it to the city.

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.

KPLU sports commentator Art Thiel likes what he's hearing about a proposed arena deal in Seattle.

The goal is to return the NBA to Seattle and bring the city a professional hockey team with a new arena to be built in the city's SoDo district. The project would be self-funded and not rely on new taxes.

Whether you've been following the team for years or are just now jumping on the Vancouver Canucks' bandwagon, it's worth the ride. Those are the words of KPLU sports commentator Art Thiel as the Canucks vie for their first-ever Stanley Cup title.