clock menu more-arrow no yes mobile

Filed under:

A month to go

A month to go before the NBA votes on Chris Hansen's agreement to purchase the Sacramento Kings and relocate them to Seattle.

What feels like forever ago, Chris Hansen had agreed to purchase the Sacramento Kings from the Maloof family. That sale is complete pending league approval of the purchaser's finances, market and arena viability.

On to the questions the NBA owners are tasked with answering:
One short month to go before we find out if Chris Hansen, Steve Ballmer, Erik and Peter Nordstrom, have enough money to afford to purchase the franchise. "Sources" have told me that they are, indeed, exceedingly wealthy.

Can they afford it?

I'll play NBA league owner her and go with "yes" on that question.

The next question is the one that is prone to distraction.

Does Chris Hansen have a viable arena plan in Seattle?

  • Financing terms have been agreed to.
  • Land has been purchased.
  • A temporary facility is available in Key Arena.
  • The City of Seattle has accepted the major design elements and has moved the project on to permitting.
  • All of the elements of the Memorandum of Understanding and the Inter-Local Agreement are in full motion.
  • Those items all look really good.

    The question of how much mitigation the SoDo site would require for transportation, etc, vs Seattle Center is a little strange. Will it be the property that has all of the major mass transit infrastructure running through it, or the one with the 50-year-old Monorail?
    Tough call? Not really.
    What are the environmental impacts to an industrial site vs a 72 acre public park?

    Gosh, a brownfield industrial site or the home to the 1962 World's Fair?

    Everything would have to go against Chris Hansen in the EIS process and all of his transportation and economic development concerns could all be mitigated, and the SoDo site couldn't be mitigated. He would be forced to consider building a brand new arena on the Memorial Stadium site at Seattle Center. It would not be Key Arena, you lose the temporary home, and the remodel of the bowl would be an added expense.
    It's very unlikely, but not impossible, that another viable location for a new arena could be chosen.
    Both are viable, both have secured land, one is has fewer mitigating factors.

    So, to that question, does Seattle have a viable arena plan?

    The problem may be an abundance of good locations, darn.

    Chris Hansen's comments last year about Seattle Center are likely to be born out in the EIS analysis, the traffic mitigation, among other things, to put it on par with the SoDo location would be huge.
    This very unlikely to happen. I think the EIS process will expose the many fault of building a new arena at Seattle Center, and bring this all back to the SoDo site soon enough.

    The answers to the financial and arena questions are yes, and yes.

    Now, back to the money.
    The selling party has agreed to sell at a given price, done.

    Will this result in the other individual franchise owners making more money?
    Yes, the individual owners will see the value of their franchises go up. The franchises that pay into the profit share will have a franchise that is less likely to take.

    Lots of "yes" answers, but not to be answered today, but a month from today.

    I like our situation, and our chances.

    A month to go.

    Go Sonics!