I'm gonna say no.
Don Levin was involved in discussions about the possibility of an NHL arena on the Eastside. Levin put together a proposal about five or six years ago to buy the Cubs but was outbid by the Ricketts family; some interesting discussion about debt and ownership can be read here.
"It all comes back to the same thing: the cash flow you have to come up with," Levin said. "If you're not going to own the building and you're not going to get the revenues, your cash flow is less and you'll pay less.
Levin, a former film producer and successful Chicago businessman is well-known as a h0ckey fan. His Wolves team made its popular breakthrough on the heels of the NHL lockout in 04-05. Could he be poised to deliver sports to a starved Seattle fanbase on the heels of the NBA lockout? Time will tell. Definitely depends on what the new CBA looks like, whenever that is settled.