About the Proposal
A private investor has a proposal to construct a new arena in Seattle’s Stadium District with the ability to host NBA and NHL teams. The Mayor and County Executive have appointed a panel of community leaders and finance experts to evaluate the proposal.
- Read the full news release Mayor and County Executive announce new, self-funded arena proposal - Acrobat PDF
The private investor proposes to raise $290 million for the facility. In addition, his investor group would bear the costs associated with acquiring an NBA team and seek a partner who would recruit an NHL team to the new facility.
A list of proposal principles has been created, carefully outlining the responsibilities of the parties involved - the City of Seattle, King County, and the investment group ArenaCo.
- View the Proposal Principles - Acrobat PDF
On June 1st, 1979 the SeattleSonics became NBA world champions. As the final buzzer sounded in game 5 of the finals, millions saw Sonics point guard Gus Williams hurl the ball skyward. Eleven year-old Chris Hansen was one of them, watching from his home in Seattle.