Seattle Arena Talk - Update in #898 Hansen talks private financing

[DutchShamrock]

Considering Hansen wouldn't be the first person to privately finance a stadium, I doubt that heat would last very long. I'm just glad that it's on the table for Seattle now because it would seem to me like it'll be a lot easier of a road for this to get done. I would then wonder if it's going to be an expansion team or a relocated team because I don't know if whoever would be interested in bringing an NHL team to Seattle would want to front 500 million or try and get the Coyotes or someone else on the cheap and bring them in.

I think Seattle will be expansion because an American city is better suited at this exchange rate to absorb the franchise fee. Quebec City ought to be the first relocation.

Edit: also logistically, the league needs a 32nd team for balance, specifically in the Western conference.

 

[JawandaPuck]

Hopefully positive news will come from the NHL with regard to Seattle just in time for the 100 anniversary of the Seattle Mets Stanley Cup victory (over Montreal Canadiens, 3 games to 1, 1916-17 season).

 

[superdeluxe]

The biggest key to me is that by tearing up the MOU, it now means NHL first can now happen. Which was strictly prohibited under the terms of previous MOU

 

[Pinkfloyd]

The biggest key to me is that by tearing up the MOU, it now means NHL first can now happen. Which was strictly prohibited under the terms of previous MOU

I think that'll help in some ways to move the process along but I think both sports were going to inevitably get there once something got done anyway.

 

[gstommylee]

NEW: @SeattleCouncil President @bruceharrell on #SeattleArena private offer: “game changerâ€, will look to reconvene committee to discuss it.

Quebec will not be getting a team before seattle does. NHL was very clear as to why they said no to quebec.

 

[brewski420]

My overall mistrust of Hansen throughout this process leads me to be cautiously optimistic, as it pertains to the NHL. He has no real interest in the NHL, or so it has been reported/speculated in the past, so I am not sure how his group controlling the arena will work for the NHL. Hopefully there is involvement from some with the NHL in mind.

This does, however, put the ball squarely in the cities court. Any refusal now to vacate will look terrible for all concerned. Having just heard the news this is my initial reaction. My first thought also was relocation of the Coyotes. Not sure about that though.

 

[gstommylee]

My overall mistrust of Hansen throughout this process leads me to be cautiously optimistic, as it pertains to the NHL. He has no real interest in the NHL, or so it has been reported/speculated in the past, so I am not sure how his group controlling the arena will work for the NHL. Hopefully there is involvement from some with the NHL in mind.

This does, however, put the ball squarely in the cities court. Any refusal now to vacate will look terrible for all concerned. Having just heard the news this is my initial reaction. My first thought also was relocation of the Coyotes. Not sure about that though.

Relocation of the coyotes requires something to be done with Key arena to get it to to where a NHL team can host it temporary.

With hansen going all private. It makes it easier for a NHL group to pay 500m for a team. If hansen gets the street vacation approved by going all private, Seattle gets expansion not relocation.

 

[snovalleyhockeyfan]

Official comment from KC Exec Dow Constantine:

“Chris Hansen today demonstrated his continued commitment to building an arena, and to take advantage of an improving economy. His efforts will strengthen our ability to compete for an NBA team. We won't stop until we bring the Sonics home."

http://www.kingcounty.gov/elected/e...ease/2016/October/25-sodo-arena-proposal.aspx

 

[brewski420]

Relocation of the coyotes requires something to be done with Key arena to get it to to where a NHL team can host it temporary.

With hansen going all private. It makes it easier for a NHL group to pay 500m for a team. If hansen gets the street vacation approved by going all private, Seattle gets expansion not relocation.

Yeah, I agree, that was just my initial thought. The $500m fee still is troublesome to me especially being a secondary tenant to Hansen/NBA. Hopefully someone is involved with NHL aspirations.

 

[gstommylee]

Yeah, I agree, that was just my initial thought. The $500m fee still is troublesome to me especially being a secondary tenant to Hansen/NBA. Hopefully someone is involved with NHL aspirations.

The problem i have was that if NHL group has to $$$ to the arena its going to make it harder for them to agree to pay the 500m fee.

That's the biggest issue tukwila arena has right now.

 

[BattleBorn]

So the councilwomen on the city council that voted against the vacation of Occidental did it on the grounds of fighting against gentrification. Has the Hansen group addressed those issues are all with these new developments?

Like I said when the vote occurred, that's not an easy stance to really walk back.

 

[madhi19]

Relocation of the coyotes requires something to be done with Key arena to get it to to where a NHL team can host it temporary.

With hansen going all private. It makes it easier for a NHL group to pay 500m for a team. If hansen gets the street vacation approved by going all private, Seattle gets expansion not relocation.

The NHL need to always have at least one safe landing spot was one of the shadows hovering over Quebec expansion bid. If Seattle start building soon they can have a a landing spot in the east and the west. They want the dumpster fire solved eventually.

 

[gstommylee]

Here is word from hansen from todays news

http://www.sonicsarena.com/news/article/moving-forward

Key points from the statement.

First, we will direct contributions to a package of additional SODO traffic improvements, which will improve freight mobility through the area.

Second, we agreed to commit future payment of compensation for the vacated street to the city’s financing package for the Lander Street Overpass, thereby helping to close the funding gap for that important project.

Finally, we have agreed to revising the street vacation petition to eliminate public financing of the Arena. Terminating the MOU would allow the city and county to recoup the $200 million in debt capacity and free-up Arena tax-generated revenue streams.

So the councilwomen on the city council that voted against the vacation of Occidental did it on the grounds of fighting against gentrification. Has the Hansen group addressed those issues are all with these new developments?

Like I said when the vote occurred, that's not an easy stance to really walk back.

There was a lot more concerns than gentrification. Sodo is the next area to be targeted for development there is nothing to prevent reality.

 

[Fenway]

So the councilwomen on the city council that voted against the vacation of Occidental did it on the grounds of fighting against gentrification. Has the Hansen group addressed those issues are all with these new developments?

Like I said when the vote occurred, that's not an easy stance to really walk back.

Her vote may not matter if no public money involved as one of the others might switch their no vote.

This could put the NHL in a very awkward position as since unlike Quebec nobody in Seattle has an expansion application on file. However that opens up relocation and while most would look at Arizona, there is nothing preventing an eastern team to moving west which would make it 16-15 in favor of western teams and then you need a 16th team in the east......................Bonjour Quebec.

 

[Kodi]

Relocation of the coyotes requires something to be done with Key arena to get it to to where a NHL team can host it temporary.

With hansen going all private. It makes it easier for a NHL group to pay 500m for a team. If hansen gets the street vacation approved by going all private, Seattle gets expansion not relocation.

It really doesn't. The yotes could sign a deal for x amount of time in current location or they could play in a temporary location. Heck I would move them to PDX for 2-3 years to see if it would work there. If it does it makes it a landing spot in the future. If it doesn't then they know for sure.

I have mixed feeling though, on one hand would love an expansion team with no history, on the other I would hate to wait years to build a program from scratch.

 

[gstommylee]

Her vote may not matter if no public money involved as one of the others might switch their no vote.

This could put the NHL in a very awkward position as since unlike Quebec nobody in Seattle has an expansion application on file. However that opens up relocation and while most would look at Arizona, there is nothing preventing an eastern team to moving west which would make it 16-15 in favor of western teams and then you need a 16th team in the east......................Bonjour Quebec.

But they aren't going to stick to 31 teams though and i do not see any eastern teams moving out west.

 

[BattleBorn]

Her vote may not matter if no public money involved as one of the others might switch their no vote.

This could put the NHL in a very awkward position as since unlike Quebec nobody in Seattle has an expansion application on file. However that opens up relocation and while most would look at Arizona, there is nothing preventing an eastern team to moving west which would make it 16-15 in favor of western teams and then you need a 16th team in the east......................Bonjour Quebec.

As I recall, that whole bloc that voted against the vacation used the gentrification thing. Seems that if they're going to have to vote for the vacation of Occidental again there isn't anything that's changed that would justify any of them changing their votes.

I may be the only one paying attention to that though, since it really hit me as strange when the vote occurred.

 

[Mightygoose]

Sportsnet (Rogers) is the so far the only Canadian firm to pick up on this. Though they are the NHL national media partner here, it's posted under the NBA section.

http://www.sportsnet.ca/basketball/nba/investor-group-offering-pay-nba-arena-seattle/

As of now, Hansen's group -- which includes members of the Nordstrom family and former Seattle SuperSonics president and minority owner Wally Walker -- has not taken on additional investors. The original proposal in 2012 said the total project would cost $490 million.

So it doesn't appear any NHL group is contributing the difference, nor required by the Hansen group. So if this goes through, it comes down to if any NHL owner can work out a favourable lease.

Though if this happens and the arena costs are now covered, would it make a 500 million fee more palatable?

 

[gstommylee]

As I recall, that whole bloc that voted against the vacation used the gentrification thing. Seems that if they're going to have to vote for the vacation of Occidental again there isn't anything that's changed that would justify any of them changing their votes.

I may be the only one paying attention to that though, since it really hit me as strange when the vote occurred.

Transportation issues was brought up as a concern, the public financing issue was brought up as a concern.

Sportsnet (Rogers) is the so far the only Canadian firm to pick up on this. Though they are the NHL national media partner here, it's posted under the NBA section.

http://www.sportsnet.ca/basketball/nba/investor-group-offering-pay-nba-arena-seattle/



So it doesn't appear any NHL group is contributing the difference, nor required by the Hansen group. So if this goes through, it comes down to if any NHL owner can work out a favourable lease.

Though if this happens and the arena costs are now covered, would it make a 500 million fee more palatable?

The biggest issue as to why nothing really happened in terms of NHL to Seattle was the NBA first MOU. That MOU has off now no longer exists.

 

[Fenway]

As I recall, that whole bloc that voted against the vacation used the gentrification thing. Seems that if they're going to have to vote for the vacation of Occidental again there isn't anything that's changed that would justify any of them changing their votes.

I may be the only one paying attention to that though, since it really hit me as strange when the vote occurred.

We are living in a strange world these days where anything can happen the defies logic.

Cubs vs Indians??

 

[brewski420]

As I recall, that whole bloc that voted against the vacation used the gentrification thing. Seems that if they're going to have to vote for the vacation of Occidental again there isn't anything that's changed that would justify any of them changing their votes.

I may be the only one paying attention to that though, since it really hit me as strange when the vote occurred.

That whole gentrification argument makes little to no sense as it pertains to Sodo. It is an industrial area already labeled the Stadium District. With public money involved that argument will resonate with constituents. No public money weakens that argument significantly imo. One of those that voted against was literally on the fence till the vote.

Hansen already owns all the land he needs, he just needs a street vacated. Where does gentrification come into play?

 

[gstommylee]

Comment from Wally Walker part of the NBA group.

 

[superdeluxe]

Wally with the NHL name drop.

 

[BattleBorn]

That whole gentrification argument makes little to no sense as it pertains to Sodo. It is an industrial area already labeled the Stadium District. With public money involved that argument will resonate with constituents. No public money weakens that argument significantly imo. One of those that voted against was literally on the fence till the vote.

Hansen already owns all the land he needs, he just needs a street vacated. Where does gentrification come into play?

You're preaching to the choir. That's exactly what I said when they voted against the vacation for the reasons they specified.

It sounded like an excuse, one that they may have to unwind now.

 

[brewski420]

You're preaching to the choir. That's exactly what I said when they voted against the vacation for the reasons they specified.

It sounded like an excuse, one that they may have to unwind now.

I think that argument disappears without public funds. There will be some new argument from some of them for sure, can't wait to hear what it is.