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New Seattle Sports Stadium Approved
Posted By HOOPSWORLD On September 25, 2012 @ 7:25 am In All,Headlines,NBA Headlines | No Comments
A wealthy hedge-fund manager won approval Monday for his plan to bring professional men’s basketball and hockey back to Seattle, with initially skeptical City Council members agreeing to put up $200 million for a new arena after he promised to personally guarantee the city’s debt.
Council members voted 6-2 to approve Chris Hansen’s plan for a $490 million arena near the Seahawks and Mariners stadiums south of downtown.
Seattle hasn’t had an NBA team since 2008, when the SuperSonics moved to Oklahoma City and became the Thunder, devastating their fans here. It’s been quite a bit longer since Seattle had major-league hockey: The Metropolitans, who won the Stanley Cup in 1917, disbanded in 1924.
Hansen, of San Francisco, is a Seattle native, an early investor in Facebook and a big Sonics fan who approached Seattle Mayor Mike McGinn last year in hopes of building a new arena to attract an NBA team and hopefully an NHL team as well. KeyArena, where the Sonics played, is considered outdated and financially unviable. The $200 million in public financing would be repaid by arena-related taxes.
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