Re: Sonics begin relocation talks
Muckelshoots are an Indian (Native American) tribe here in the Puget Sound area. They have a very successful and long standing casino operation and are considered one of the most successful tribes financially. They build quality in their buildings and are spoken of highly in the local Seattle scenes.
So with the Muckelshoots now trying to craft something, lots of Seattle fans are holding hope that something will be accomplished and the Sonics will stay here. Even those of us who want them to leave town and head for OKC there are some who would like for private investment like this to step in.
However, there was a somewhat similar attempt by a former Sonic minority owner to offer land in S Seattle for an arena which led to nowhere, and I believe this attempt by the Muckelshoots will do the same. Why?
1) Bennet has said all along that the arena deal would need to be approved before Oct 31 of this year. This means, the funding plan would need to be in place and all approvals would need to be complete before Oct 31.
2) Bennett said that the funding must include significant public package. He came up with a plan for the state to fund up to $320M+ and the city of Renton to fund $100M+. The private sector would contribute the remaining $80M or so.
3) Bennett said he wants the arena to be in Renton, which is centrally located in the Puget Sound (population wise).
4) Bennett said that the arena would be publicly owned but managed by the Sonics who would also receive the majority of the proceeds and concessions, making the Sonics a profitable venture.
These four articles MUST BE MET for the Sonics to stay in Seattle - OR a private deal trumping this must be presented.
From item 1), Oct IS THE DATE. Bennett will NOT move it to wait for the 2008 session nor will he give them another chance. Bennett must have known that an Oct 31 date puts him at a disadvantage because if a deal woundn't have been reached by the end of the WA session - then why wait for 6 more months twiddling your thumbs. Former owner Howard Schultz, Starbucks CEO, must have inserted this into the sell agreement with Bennett - so that Schultz could appease public opinion in Seattle - otherwise we'd surely boycott all Starbucks locations here in the Puget Sound. But because the chosen date is a disadvantage to Bennett he WILL NOT MOVE IT.
From item 2), Bennett made it clear that there would need to be substantial public funding for the arena plan. The private portion should be less so sothat the Sonics would not have to share any of the arena proceeds. Bennett layed out a portfolio of funding and that was not even voted on by the legislature this year. There is no way he will give them "another chance" at it, they can ONLY go into special session and approve in the next 4.75 months OR no deal! And those legislators are long gone now, even if the governor wanted to call a special session she could not even do so.
From item 3), the chosen location of Renton was in response to the city of Seattle's passing of I-91 - which prohibited the city from building a new arena or expanding Key Arena without the sports teams (the Sonics more specifically) consenting to a profit sharing of all proceeds. There is no way Bennett would agree to such terms, so the city of Seattle is out - but Bellevue and Renton were likely candidates. He chose Renton over Bellevue because Renton (similar to the old Midwest City by comparison) is centrally located in the puget sound and has lots of industrial land owned by Boeing that the company is getting rid of. It was announced in Feb that the Sonics had got the land for the arena but that was a false deal in reality that was only an agreement in principal should the legislature approve the funding. This didn't happen, so no land in Renton. But Renton is STILL Bennett's preferred location!!!!!
From item 4), as I discussed earlier - Bennett wants a public arena so that the Sonics would not have to compete with other interests on the proceeds from events held there. Certainly, Bennett wants a cut from the concerts and other teams that would play in the arena and Im positive that the state/city would have some problems up here with that anyways. Nonetheless, without the public funding this is a null issue altogether.
So as you can see, regardless of what the Muckelshoots come up with - their arena would not be in Renton (so item 3 is not met), their arena would be majority private financed (so item 2 is not met), and they would have significant problems with the Sonics taking all of the proceeds of the arena as I seriously doubt the Muckelshoots would build Bennett an arena for free and then give him all of the concessions. This is the ONLY way the Muckelshoot idea would win support with him and they have 4.75 months to decide if they want to give that to keep the team here.
As you can see, Bennett was very smart in wording/crafting his arena plan. He put in specific terms on the funding plan/location/terms and a specific date (that was forced on him) that will not change without a significantly unfair expenditure to any private financing. Why would someone build an arena for Bennett AND give him control of the events and majority proceeds from it?
Im sure the Muckelshoots will not do this for the sake of keeping the team here, and even if they did Bennett would still not agree because Auburn is not Renton!! (Muckelshoot, Auburn WA is some 20 miles S. of Renton). And the South King County population is less than 1/3 of the county's total (of roughly 2M in total). Also, S. King county is significantly different demographics to that of E. and N. King County, ie S. King county is more similar to a very big Del City and Midwest City whereas the N and E King County is like a very big Edmond and Nichols Hills.
Renton itself is not desireable but Bennett chose it due to its proximity to Seattle, Tacoma, and the wealthy Eastside. Auburn is significantly away from this and does not have significant access either (nor does Renton for that matter, but Renton has better access than does Auburn).
The Muckelshoots are probably the last effort to save the team for Seattle but like I said, I am certain that it will not proceed to the satisfaction of local Puget Sound fans.
Get ready OKC.
Oklahoma City, the RENAISSANCE CITY!
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