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Sports Seattle has agreement in place for NBA-ready arena by 2020

18:24  13 september  2017
18:24  13 september  2017 Source:   sportingnews.com

Bettman: Flames face 'consequences' without new arena

  Bettman: Flames face 'consequences' without new arena The Calgary Flames aren't leaving town if they don't get a new arena. At least not in the short term. On Tuesday, Flames president and CEO Ken King announced the team is no longer pursuing plans to construct a new facility in Calgary, classifying recent meetings with city officials as "spectacularly unproductive.

Oak View Group and Seattle Mayor Ed Murray have a formal agreement in place to build a 0 million privately funded arena at the Seattle Center that could host both an NBA and an NHL team Construction for the renovation is expected to begin in 2018 and will be ready by 2020 , the report says.

The proposed 0 million renovation of KeyArena could also lure an NHL team and construction could begin next year.

KeyArena © (Getty Images) KeyArena If the NBA ever returns to Seattle, there could be a shiny new arena waiting.

The city of Seattle and Los Angeles-based Oak View Group agreed to a $600 million renovation of KeyArena and construction could begin next year.

The Memorandum of Understanding (MOU) was formally submitted to the Seattle City Council on Tuesday morning in the Select Committee for Civic Arenas. The city council is expected to vote on the MOU by the end of the year.

"The completion of the MOU provides a level of certainty that Seattle has never had before, and OVG, the City Council, elected officials and the residents of Seattle, must now turn our attention to the NHL and NBA and make it undeniably clear that we are more than ready for them to come to Seattle," OVG co-founder and CEO TIm Leiweke said in a statement.

Ottawa won't get involved in Flames arena fight

  Ottawa won't get involved in Flames arena fight Ottawa won't get involved in Flames arena fight"I remember doing a project on the Calgary Flames coming to Calgary when I was at Jerry Potts elementary school," Kent Hehr, who grew up in Calgary, said Thursday when he was in the city.

Seattle reaches agreement to bring NBA - ready arena to the city by 2020 . Agreements are also in place for the Atlanta-based group of Michael Gearon Jr. and Sr The NBA has also already made it clear they want the Hawks in Atlanta, a top ten market.

The proposed 0 million renovation of KeyArena could also lure an NHL team and construction could begin next year.

One thing that could hold things up is that the agreement was made with mayor Ed Murray, who abruptly resigned Tuesday amid multiple sexual abuse allegations. Murray was scheduled to make a formal announcement of the agreement during a Tuesday press conference that was canceled.

In addition to the $600 million renovation of KeyArena, OVG would also commit $40 million to improve traffic, transportation and parking around Seattle Center and another $20 million for a community fund.

Seattle would be a favorite to land a team if the NBA were to expand, something commissioner Adam Silver has said is inevitable. But an NBA spokesman told Seattle television King5 the "NBA is not involved in the ongoing Seattle arena process, and we have no plans to expand at this time."

Calgary offers to pay one-third of arena cost

  Calgary offers to pay one-third of arena cost Calgary offers to pay one-third of arena costIn response to the Calgary Flames breaking off talks for a new rink earlier this week, Calgary Mayor Naheed Nenshi revealed details of what the city proposes to pay for a building expected to cost $555 million.

But an NBA spokesman told Seattle television King5 the " NBA is not involved in the ongoing Seattle arena process, and we have no plans to expand at this time." The 17,000-seat arena played host to a day of Big3 basketball games last month.

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KeyArena was home to the NBA's SuperSonics for 33 of the franchise's 41 years in Seattle before Clay Bennett's investment group bought the team from Starbucks CEO Howard Schultz in 2006 and moved the team to Oklahoma City in 2008. The 17,000-seat arena played host to a day of Big3 basketball games last month.

TSN reported that OVG has lined up investors for a potential hockey team is the NHL were to expand beyond its current 31-team membership. Those investors include billionaire David Bonderman and filmmaker Jerry Bruckheimer, who would be the lead owners for a potential NHL franchise.

"One of the principles that we had was that the city would never go backwards as far as its ability to maintain the revenues that we receive through operation of Key­Arena going forward," Brian Surratt, head of the city’s Office of Economic Development, said, via the Seattle Times. “And that we would be partners, moving forward, in any deal as well."

Flames fire back at city with arena numbers .
No longer talking to each other behind closed doors about a new NHL arena, the Calgary Flames and their city continue to talk loudly to the public about it. The Flames disclosed what they think they should pay for a new arena early Thursday morning via a press release and newspaper ads in a rebuttal to the city revealing its financials last week.

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