Seattle City Council approves new arena deal

Seattle City Council approves new arena deal

Credit: KING5 News

Seattle City Council approves new arena deal

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by GENE JOHNSON, Associated Press

kgw.com

Posted on September 24, 2012 at 5:49 PM

SEATTLE -- The Seattle City Council has approved a deal to build a new arena designed to lure the NBA back to town.

Council members voted 6-2 to approve investor Chris Hansen's plan for a $490 million arena near the Seahawks and Mariners stadiums south of downtown. The plan calls for $200 million in public investment, and Hansen has personally guaranteed to cover the city's debt if the arena's finances don't work out.

The arena could also house an NHL team.

Changes in the plan still must be approved by the King County Council, and it must pass an environmental review.

But Hansen says city approval allows him to shop for a team that would replace the SuperSonics. After four decades in Seattle, the Sonics moved to Oklahoma City in 2008 and became the Thunder.

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