KeyArena Renovation Proposal Dead

[OKCMallen]

Ballmer's proposal to expand KeyArena is dead
By Jim Brunner

Seattle Times staff reporter

PREV of NEXT




Microsoft CEO Steve Ballmer




Seattle Mayor Greg Nickels
Related

What do you think about the latest Sonics news?
Archive | Ballmer puts expiration date on KeyArena expansion offer
Archive | Microsoft CEO may chip in millions to keep Sonics
Sonics blog
Talk about it in the Sonics forum
A proposal led by Microsoft CEO Steve Ballmer to expand KeyArena is dead.

Ballmer had put an April 10 expiration date on his group's offer to pay $150 million toward a $300 million KeyArena expansion.

But efforts to come up with the public share of the money fell short, Seattle Mayor Greg Nickels said at a morning news conference.

"This is a truly missed opportunity for our city, the region, the state and the NBA," Nickels said.

Nickels vowed to try to keep the NBA in Seattle.

The city will continue to pursue its federal lawsuit against Sonics owners, seeking to hold the team to its KeyArena lease through 2010. A trial in that case is scheduled for June.

In an earlier letter to Gov. Christine Gregoire and top lawmakers, Ballmer's group had said the arena plan needed to come together before the NBA Board of Governors meets April 17-18 to vote on Sonics owner Clay Bennett's request to move the team to Oklahoma City.

Nickels had pledged $75 million from the city through lease payments and admissions taxes on KeyArena.

But the state Legislature declined to authorize an additional $75 million that would have been raised through taxes on restaurant meals and car rentals in King County. Nickels said his staff was unable to come up with an alternative way to raise that money without the state's help.

"We had hoped this offer would be compelling enough that the Legislature and the governor would embrace it and give us the tools to go into the NBA Board of Governors meeting later this month and make an extraordinarily strong case," Nickels said.

Instead, state lawmakers would only agree to create a task force to consider funding KeyArena along with a smorgasbord of other projects next year. The seven-member task force has not yet met.

Ballmer's group, backed by his estimated $15 billion net worth, had said it was willing to buy the Sonics or another NBA franchise to play at KeyArena.



Bennett has repeatedly said the Sonics team is not for sale and has been preparing for a move to Oklahoma City, where voters recently approved $121 million in taxes for an arena renovation and practice facility for the team.

Wireless entrepreneur John Stanton, Seattle developer Matt Griffin, and Costco CEO Jim Sinegal were the other partners in Ballmer's investor group.

In February, Bennett offered the city $26.5 million to drop its lawsuit and allow the Sonics to leave for Oklahoma. The city rejected the offer.

Nickels was asked several times at the morning news conference whether the city will reconsider letting the Sonics out of the KeyArena lease in exchange for a larger cash payment or the promise of a potential future NBA franchise.

Nickels repeatedly answered "We have a court date in June" and refused to elaborate.

[mmonroe]

What jerks... what team would want to move in and replace the soon to be vacant NBA spot when they see FAILED attempts to fund ANYTHING. I know if I were an owner of an NBA team, Seattle would be off my list.

[Karried]

Just saw this on the news ..

yaaaaaaaaaaaay for us.

[betts]

The Key was never going to work anyway, and Bennett won't sell. The city needs to think about a new arena, which they'll end up building eventually anyway. That's what it's going to take to get a new team, and it would have kept the old one had they built it in time.

[mmonroe]

It's just costing them money.

But the people of Seattle have already been screwed on taxes, that they're still paying on, because of other team owners who demanded new arenas. They just don't want to pay anymore taxes and won't approve anything. It WILL have to be privately funded.

[okclee]

I can't really blame the citizens of Seattle for not wanting to build a NBA arena, especially after building and still paying for new NFL and MLB arenas. At some time you have to say enough is enough. I think every city has a breaking point when it comes to pro sports and funding for arenas and such. A lot of the funding issue is also related to the timing of the two other arenas.

[OKCMallen]

Agree with you, Lee. It's not like their attitude is completely unreasonable....but it just so happens that things are how they are, and a lot of things came topgether at once for OKC to get this team.

[betts]

I can't really blame the citizens of Seattle for not wanting to build a NBA arena, especially after building and still paying for new NFL and MLB arenas. At some time you have to say enough is enough. I think every city has a breaking point when it comes to pro sports and funding for arenas and such. A lot of the funding issue is also related to the timing of the two other arenas.

I don't blame them either. But, it all comes down to the fact that there are other places who will. Schultz clearly wasn't willing to fund the arena himself, nor did any of the other owners volunteer much in the way of money. They were more willing to sell the team than help come up with private money, and when that happens, cities who are willing to fund sports facilities will come calling. Perhaps Seattle is marginally big enough to support three teams, if it cannot come up with the money for three venues, or perhaps it's bad luck that they all happened in such close proximity. But, it's also not OKC's fault that our city was willing and able to do what Seattle wasn't, nor is it our fault that a willing Schultz sold to Clay Bennett et al.

[okclee]

I agree with you Betts, in no way can Okc be blamed for Seattles unable to give the Sonics what they want. I also agree that Seattle is a marginal city to support the big 3. I can not remember where I saw it but there was a study on cities and their ability to support major league teams and how many the city can support. There were a few cities that were on the list of being over-saturated with pro sports and Seattle was on that list.

It is really amazing how the Okc stars have been in alignment for this deal to happen the way that it has.

[Laramie]

They are still paying on the Kingdom' debt. Every major sports facility in Seattle has a debt, according to what I've been told.

I understand the they will retire the debt on Quest and Safeco in two years.

[CuatrodeMayo]

Kingdome...not kingdom. They imploded a domed stadium, not a monarchy

[kevinpate]

Overall, it certainly appears they've imploded more than a stadium. Even if they garner another franchise, will all new folk be welcomed as the Sonics arising from the ashes, or merely the replacements wearing the name of another

[mmonroe]

tough call kevin.

[Laramie]

Someone requested information;


Press the buttom previous/next to scroll through the cities

10 Most Overextended Markets: Kansas City is #5

10 Most Overextended Markets in Pro Sports

10 Best Markets for expansion: Oklahoma City is #6

10 Best Markets for Pro Sports Expansion

[mmonroe]

Nice...

[windowphobe]

Well, that settles it. Let's buy David Glover a one-way trip to Seattle.

I suggest FedEx Smartpost.

[mmonroe]

Lets go regular USPS.....

[metro]

third class mail?

[mmonroe]

i know a guy who is a truck driver, you can carry stuff with his load if he's going that direction.

[CuatrodeMayo]

Pony Express.

[Laramie]

CuartrodeMayo:

Thanks for drawing this to my attention:

Kingdome...not kingdom. They imploded a domed stadium, not a monarchy. LOL.

Sorry, I'm getting careless.

[CuatrodeMayo]

My mother was an English and grammer Nazi.

[redland]

My mother was an English and grammer Nazi.

...but apparently not a spelling Nazi

[CuatrodeMayo]

lol...caught me!

grammar.