New NBA stadium in Seattle?

[Shooter]

Looks like the NBA could be coming back to Seattle . . .

http://sports.yahoo.com/news/agreement-reached-seattle-arena-plan-175408540--nba.html

 

[Mediocre Man]

In before the Blazers moving to Seattle idiots

 

[ironcrotch]

No construction would begin until after a franchise has been acquired.

Could be tomorrow, could be 10 years.

 

[julius]

isn't that what the state of Oregon did for a baseball stadium?

look how well that turned out.

 

[ironcrotch]

isn't that what the state of Oregon did for a baseball stadium?

look how well that turned out.

I still cry at night about our MLB plans.

 

[jlprk]

There are 2 sides, public (City of Seattle and King County) and private (NBA team and possible NHL team). The Memorandum of Understanding says that if there's only NBA, the city/county split is $115/5 million. If there's NBA and NHL, the split is $120/80 million.

New Sonics owner Hansen pays the rest, estimated at $290M, whether or not a hockey owner exists to help pay that. The team(s) and the City will co-own in proportion to amount paid in. The City will own the proportion paid by the County, which gets no ownership. The possible NHL team will co-own in proportion to how much of the $290M it pays.

The project calls for about $290 million in private investment from Hansen's group, along with $200 million from the city and county through 30-year bonds [to be repaid by taxes and revenues generated by the new arena]. Any franchise that comes to Seattle and uses the arena would be required to sign a non-relocation agreement that would span the life of those bonds.

All construction costs, including overruns, would be paid for by Hansen's group, along with all environmental studies and permitting. Once that process is completed, most of the public investment is placed on the city.

The MOU calls for an initial investment of $100 million by the city for acquisition of the project site. During a second investment window, the city would contribute another $20 million if both an NBA and NHL team are acquired, with the remaining $80 million in public investment being bonded by the county.

 

[BBert]

I still cry at night about our MLB plans.

The Portland Expos. What should have been.

 

[Mediocre Man]

Portland would be a fantastic baseball city. Small, maybe 35-45 thousand, with fun family friendly activities. Maybe retro modern with views of Mt Hood. Average ticket costs of around $24 dollars with bleacher seats anywhere from $5 to $7. Add in all you can eat seats and or all you can drink seats, and it could be a huge hit. Our minor league team here in Sugar Land has all you can eat seats, and it is awesome. $20 bucks for "seats" on the lawn in right field, but all the food you can eat until the 7th inning

 

[BlazerBeav]

Except, of course, Portland would be unable to compete in baseball and financially would be more like Kansas City than any contender.

 

[Mediocre Man]

Except, of course, Portland would be unable to compete in baseball and financially would be more like Kansas City than any contender.

Why?

 

[Fez Hammersticks]

I'm still hoping that one day the land near OMSI will be home to Portland's pro baseball team. Just as long as they put the stadium close to downtown. I hate the idea of a 'burbs stadium.

 

[RR7]

more talk today of the As moving, with the Giants fighting their desired move to SJ. Maybe it gives us another very outside chance? I wish.

 

[Mediocre Man]

more talk today of the As moving, with the Giants fighting their desired move to SJ. Maybe it gives us another very outside chance? I wish.

Dream scenario for Portland would be for Paulson to buy the A's, and then at some point buy the Blazers. One ownership group is great for dual marketing

 

[Fez Hammersticks]

I'm firmly in the Paul Allen bandwagon. I hope he stays the owner long-term.

But I do hope Paulson can get creative to lure the A's to Portland. I know as early as a few years ago they brought a group from Oakland to look at the Portland Pearl Post Office site as a possible location.

 

[Mediocre Man]

I'm firmly in the Paul Allen bandwagon. I hope he stays the owner long-term.

But I do hope Paulson can get creative to lure the A's to Portland. I know as early as a few years ago they brought a group from Oakland to look at the Portland Pearl Post Office site as a possible location.

I like PA as owner, I just don't like the idiots that come with him

 

[RR7]

Dream scenario for Portland would be for Paulson to buy the A's, and then at some point buy the Blazers. One ownership group is great for dual marketing

I'd probably prefer TB, because of the players on the team. But not going to be picky.

 

[Mediocre Man]

I'd probably prefer TB, because of the players on the team. But not going to be picky.

Billy Beane with money would be fun to see

 

[jlprk]

Paulsen won't buy a baseball team.

He's looking for a Seatttle NHL owner. Reporters asked, why can't that be you, and he said, he's only interested in basketball.

 

[mobes23]

It's crazy how some Seattle people are reacting to the proposed stadium -- they're still po'd that "public money" is being used to fund a sports stadium. In this case, the public money SOLELY comes from taxes, fees, surcharges, etc. on events that take place AT THE STADIUM. In other words, the only way the public pays is if they go to an event at the stadium. If you don't want your precious public money being used that way, just don't go to the stadium.

They're also whining about location (which, by the way, is in an area ZONED FOR STADIUMS). Given that the bulk of the cash to fund the thing is coming from private money, it seems crazy that they think they should have that much of a voice in the choice of location. They don't want to pay anything, yet they want to have a strong voice in how it all goes down. This town annoys the crap out of me sometimes.

 

[Fez Hammersticks]

It's crazy how some Seattle people are reacting to the proposed stadium -- they're still po'd that "public money" is being used to fund a sports stadium. In this case, the public money SOLELY comes from taxes, fees, surcharges, etc. on events that take place AT THE STADIUM. In other words, the only way the public pays is if they go to an event at the stadium. If you don't want your precious public money being used that way, just don't go to the stadium.

They're also whining about location (which, by the way, is in an area ZONED FOR STADIUMS). Given that the bulk of the cash to fund the thing is coming from private money, it seems crazy that they think they should have that much of a voice in the choice of location. They don't want to pay anything, yet they want to have a strong voice in how it all goes down. This town annoys the crap out of me sometimes.

Portland and Seattle have the most Nimby's per-capita in the nation.

 

[jlprk]

It's crazy how some Seattle people are reacting to the proposed stadium -- they're still po'd that "public money" is being used to fund a sports stadium. In this case, the public money SOLELY comes from taxes, fees, surcharges, etc. on events that take place AT THE STADIUM. In other words, the only way the public pays is if they go to an event at the stadium. If you don't want your precious public money being used that way, just don't go to the stadium.

Here is a masterpiece of clear writing that argues against you. This writer makes taxes and bonds interesting.

http://crosscut.com/2012/05/14/spor...d-managers-love-losing-money-nba/?page=single

 

[RW#30]

Wait until Canzano and the ass clowns of PDX media piss PA off and he turn the light off on the RG and moves his team up to Seattle.

I laugh when DJ and JC tells the people of Portland how it is impossible to move the team. He own the team and the arena. He lost 1 BILLION already, you think he will blink an eye to break a stupid contract and pay 50 million to give a gift to Seattle? People will crucify the shoe salesman and I will laugh my ass off. I hate his self serving/promoting style.
PA worth 10+ billion and fight cancer every other year. Contracts are there to be honored or broken, people laugh but Seattle's team could come from Portland

 

[mobes23]

Here is a masterpiece of clear writing that argues against you. This writer makes taxes and bonds interesting.

http://crosscut.com/2012/05/14/spor...d-managers-love-losing-money-nba/?page=single

Interesting article -- the writer is VERY focused on the fact that Chris Hansen may make money from building the stadium and bringing an NBA team to Seattle. Like that's a bad or unfair thing. It's mainly financed by PRIVATE MONEY -- profitability would hopefully be the expectation, not something bad about the deal. Apparently, the only way the writer would be happy is if Chris Hansen and his group simply donated all money for the project and got absolutely nothing in return. Lol -- so let's all sit around and hope for that to happen?

As far as the unhappiness about about use of public money goes, the writer should read the MOU, now that it's out. It's pretty clear that the source of public funding the stadium is SOLELY tied to fees, taxes, etc. of events THAT OCCUR AT THE STADIUM. I guess it's possible (though highly unlikely) that the stadium is a complete failure and no one ever attends an event there...in which case perhaps the public would be on the hook through the bond issuance. The real diligence that needs to be done is whether the proposed taxes on events is large enough to satisfy the public contribution. But given the Key Arena is a little shoebox that concert promoters hate (so that they avoid Seattle) and the fact that NBA/NHL games absolutely will draw a lot of fans, that concern seems theoretical rather than practical...but of course number crunchers need to confirm the truth of it.

$300M of public money was used for Qwest/Century Link and I'm pretty sure approx $250M of public money was used for Safeco (that's memory, so I could well be wrong) and both of those derived funding from broader sources than the proposed arena. If only an NBA team comes, the public contribution is $120 M. If both NBA and NHL teams come, then the public contribution is $200M. Both are bargains compared to the baseball and football stadiums.

I also don't get all the traffic talk. It's not like NBA games ever happen during regular business hours midweek (7 pm start is generally after big traffic times and midday weekend games won't be a problem). No one said a peep about it when the 48,000 capacity Safeco was built or 70,000 capacity football stadium was built in Sodo, but people are all in a tizzy over traffic with the 20,000 capacity arena being discussed. Not to say that there aren't traffic issues to resolve, but I don't get all the traffic drama queens.

 

[<-=*PdX*=->]

I'm still hoping that one day the land near OMSI will be home to Portland's pro baseball team. Just as long as they put the stadium close to downtown. I hate the idea of a 'burbs stadium.

This is still my favorite option. Too bad they will never allow the USPS Site to be developed into a sports stadium.