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NHL to Seattle Volume XIII - UPDATE 12/7 NHL will accept Seattle application - Expansion fee $650 M

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snovalleyhockeyfan

I'm just the messenger.....
May 22, 2008
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blueandgoldguy said:
Any official word on when the shovels will be in the ground for this project?
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Good question. The signing of the MOU was just the first step of several that will need to be taken before any dirt is moved. There will need to be an environmental review of the project along with the other permitting reviews, and those will need to be signed off on and approved by the council/Durkan before dirt's moving. There I believe is a budget of 10-12 months to get that wrapped up, so I'd be looking at a timeframe of sometime in the fall next year before any dirt is moving and that is if there's no delays or lawsuits in the meantime. Tommy and SD can elaborate further when they have a look at your question.
 

gstommylee

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Jan 31, 2012
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snovalleyhockeyfan said:
Good question. The signing of the MOU was just the first step of several that will need to be taken before any dirt is moved. There will need to be an environmental review of the project along with the other permitting reviews, and those will need to be signed off on and approved by the council/Durkan before dirt's moving. There I believe is a budget of 10-12 months to get that wrapped up, so I'd be looking at a timeframe of sometime in the fall next year before any dirt is moving and that is if there's no delays or lawsuits in the meantime. Tommy and SD can elaborate further when they have a look at your question.
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If all goes well shovel meets ground October of 2018. Transaction documents need to be signed. Transportation plan needs to be figured out as well as the EIS review.
 
Riptide

Riptide

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Dec 29, 2011
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gstommylee said:
and there he goes again with the SCC bashing when it was them that made it possible for the NHL to make its expansion process announcement. If they said no or delay delay delay the league may have gone somewhere else like to houston.
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That's assuming the NHL was only looking for the money, and didn't care so much about the location. Personally I think they would have waited longer to see how Seattle played out before settling for Houston.
 

gstommylee

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Jan 31, 2012
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Riptide said:
That's assuming the NHL was only looking for the money, and didn't care so much about the location. Personally I think they would have waited longer to see how Seattle played out before settling for Houston.
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NHL wants houston as well but wanted Seattle to have expansion.
 

MNNumbers

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gstommylee said:
NHL wants houston as well but wanted Seattle to have expansion.
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I think it would be more correct to say that the league wants both (remember Jacobs' comments when neither market applied for expansion the last time around).

In this case, the Key remodel won't happen without the money Bonderman et al bring, so I am sure there were some discussions with the league earlier, when all the parties who are doing this remodel were coming up with the plans. "New Key" would never be built without a team coming (or at least a very high probability of one, and thus there was no way to get Seattle via a relocation.

Houston is different. NHL can get there either way.

That's why this has come the way it has.
 

gstommylee

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MNNumbers said:
I think it would be more correct to say that the league wants both (remember Jacobs' comments when neither market applied for expansion the last time around).

In this case, the Key remodel won't happen without the money Bonderman et al bring, so I am sure there were some discussions with the league earlier, when all the parties who are doing this remodel were coming up with the plans. "New Key" would never be built without a team coming (or at least a very high probability of one, and thus there was no way to get Seattle via a relocation.

Houston is different. NHL can get there either way.

That's why this has come the way it has.
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Eh i disagree I think the arena would have been built regardless if Bonderman and co shows up or not.
 

MNNumbers

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gstommylee said:
Eh i disagree I think the arena would have been built regardless if Bonderman and co shows up or not.
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Tommy,

Really!!?!?!?!

You think OVG puts 600M into that situation WITHOUT any assurance of an anchor tenant?

Really?
 

gstommylee

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Jan 31, 2012
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MNNumbers said:
Tommy,

Really!!?!?!?!

You think OVG puts 600M into that situation WITHOUT any assurance of an anchor tenant?

Really?
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That's what called building on spec. He wasn't gonna do the whole sodo thing again team first then build it.

It just happened to get NHL to go ahead with the expansion process the first BOG meeting post approval. I think Leiweke kinda expect at least one would come and the other eventually. It was just a question of how soon the first anchor would come. The NHL could been like the NBA and go into the next decade before granting a team.
 

MNNumbers

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gstommylee said:
That's what called building on spec. He wasn't gonna do the whole sodo thing again team first then build it.

It just happened to get NHL to go ahead with the expansion process the first BOG meeting post approval. I think Leiweke kinda expect at least one would come and the other eventually. It was just a question of how soon the first anchor would come. The NHL could been like the NBA and go into the next decade before granting a team.
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I think you have your head in the clouds, but that's ok.

Leiweke, from near to the beginning, talked about NHL partners owning part of the building.

It just looks obvious to me that the Rolodex of the big boys was spinning on the whole thing. I wouldn't say that Bettman orchestrated it, but all the players have too large of connections to each other, and most of those revolve around NHL somehow, for there not to have been some early on discussion.
 

gstommylee

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Jan 31, 2012
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MNNumbers said:
I think you have your head in the clouds, but that's ok.

Leiweke, from near to the beginning, talked about NHL partners owning part of the building.

It just looks obvious to me that the Rolodex of the big boys was spinning on the whole thing. I wouldn't say that Bettman orchestrated it, but all the players have too large of connections to each other, and most of those revolve around NHL somehow, for there not to have been some early on discussion.
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City owns the building. Both the NBA and NHL will have some equity of the building. The thing is Leiweke said he can't promise teams from the beginning. He can set things up for a team but it was ultimate up to both leagues to decide.
 

MNNumbers

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gstommylee said:
City owns the building. Both the NBA and NHL will have some equity of the building. The thing is Leiweke said he can't promise teams from the beginning. He can set things up for a team but it was ultimate up to both leagues to decide.
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The way you phrased this makes me want to ask something on a different subject, and then I'll come back to this....

"City owns the building" Of course. Otherwise OVG and everyone else involved would pay property tax. And, it's already city property. The idea that it's a city owned property already, with history, is what made it win out over SODO.

"NHL and NBA will have some equity....." Obviously, this is not ownership equity, because of what we discussed about. So, this much mean....."In return for putting money into the building project, the owners will get some %age of the $$ from managing the resulting arena" Is that how you understand it? {And, thanks.....}

Now, back to the point at hand. I agree. NHL and NBA get to decide if they want to come. There were very likely no written agreements of any kind that they would. However, again, I say this.....If Bonderman, et al...or some potential NBA owner, were not involved in the process at all, I don't think OVG goes all in on this. In other words, NO GUARANTEES.... But, without some interest in the NHL or NBA at the local level, wherein OVG would know to a great degree of certainty that one or both leagues would be coming, I do NOT think that OVG puts 600M into this on "hope and musical acts."

And, they would never have to. Like I said, Leiweke is connected enough to know before he started whether he had interested parties or not.
 

gstommylee

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Jan 31, 2012
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MNNumbers said:
The way you phrased this makes me want to ask something on a different subject, and then I'll come back to this....

"City owns the building" Of course. Otherwise OVG and everyone else involved would pay property tax. And, it's already city property. The idea that it's a city owned property already, with history, is what made it win out over SODO.

"NHL and NBA will have some equity....." Obviously, this is not ownership equity, because of what we discussed about. So, this much mean....."In return for putting money into the building project, the owners will get some %age of the $$ from managing the resulting arena" Is that how you understand it? {And, thanks.....}

Now, back to the point at hand. I agree. NHL and NBA get to decide if they want to come. There were very likely no written agreements of any kind that they would. However, again, I say this.....If Bonderman, et al...or some potential NBA owner, were not involved in the process at all, I don't think OVG goes all in on this. In other words, NO GUARANTEES.... But, without some interest in the NHL or NBA at the local level, wherein OVG would know to a great degree of certainty that one or both leagues would be coming, I do NOT think that OVG puts 600M into this on "hope and musical acts."

And, they would never have to. Like I said, Leiweke is connected enough to know before he started whether he had interested parties or not.
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both leagues will get 1/3 of all revenue. OVG 1/3 NBA 1/3 NHL 1/3. Its already been confirmed that the NHL group already put $$$ into the arena.
 
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