Sacramento Kings Could Find New Home In Seattle Soon

Seattle SuperSonics Fans May Soon Rejoice

1/9/13 in NBA   |   Jess   |   34602 respect

Blog Photo - Sacramento Kings Could Find New Home In Seattle SoonLast February it was announced that Chris Hansen (different guy) was spearheading a plan to get Seattle a new arena and bring basketball back to the city, much of the funding coming from him and an investment group. The city approved the proposal, Hansen bought more land, initial designs have been released, and it appears as though it's down to the matter of filling team vacancies.

One of the major hangups was that before breaking ground they had to lock in both an NBA and an NHL team. Half of that issue might very well be resolved soon. According to Adrian Wojnarowski, an NBA columnist for Yahoo! Sports, a deal to move the Sacramento Kings to Seattle is being finalized. As Wojnarowski states in the tweet below, however, there's still a chance it could fall through.

Blog Photo - Sacramento Kings Could Find New Home In Seattle Soon

No agreement signed, but one source describes deal as "1st and goal at 1." Maloofs history of changing course late still makes many uneasy."


If the deal is in fact finally made, the Kings could be playing in Seattle as early as next Season, under which name is yet to be determined. The Key Arena will house the team for two years until the new arena is ready for them. 

This news comes soon after the Virginia Beach bid for the Kings was suspended yesterday. We'll be updating as more information becomes available.
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1/9/13   |   Jess   |   34602 respect

Eric_ wrote:
The cruelties of relocation. Happy that Seattle will get a team back, but bummed for Sac-town. It's not their fault the Maloofs are dumbasses.

My question is how much public money or tax breaks/subsidies are involved in this arena. I don't care what they say, there's always some.

As for the arena, it's something like a $490m (though you know they always go over budget). Hansen and his investment group are chipping in around $290m of that and the remaining $200m of publicly financed money would *supposedly* be paid back through rent money and admissions taxes, though I'm sure that won't be the case when all is said and done.

As for the team, I have no idea. Apparently it's going to be over a $500m sale, involving Hansen and Microsoft chairman Steve Ballmer.

(source)

1/9/13   |   Eric_   |   7716 respect

The cruelties of relocation. Happy that Seattle will get a team back, but bummed for Sac-town. It's not their fault the Maloofs are dumbasses.

My question is how much public money or tax breaks/subsidies are involved in this arena. I don't care what they say, there's always some.

1/9/13   |   Jess   |   34602 respect

Might be the end of January before an official announcement. Apparently the deal is moving along nicely, but not final yet. One thing that is scary is that the Maloofs have done the "finalizing" thing before and backed out.

1/9/13   |   Jess   |   34602 respect

No official announcement yet, but it's looking good. Also, relocation still has to be approved by all other NBA teams.

1/9/13   |   herronboy

He did it! http://thankyouchrishansen.com/

1/9/13   |   robcarrolljr

They are going to come to Columbus.
 
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