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Monday, July 30, 2012

Sports County Council Approves the Sonics Arena

Posted by Dominic Holden on Mon, Jul 30, 2012 at 6:04 PM

Bob Young live-blogged the news. By a 6-3 vote (with nays coming from Republicans Peter von Reichbauer and Reagan Dunn along with Democrat Larry Phillips) the council says yes to a new arena in Sodo.

Next up, the Seattle City Council will vote, probably within a month. As they said in a letter today, they're skeptical of the financing deal but say it would be "unfortunate if the project were to founder now."

The city council members—particularly Tim Burgess and Sally Clark, who are venomously opposed to this looking like a victory for Mayor Mike McGinn—are desperate to take some credit for this thing. Sure, it's petty. But if they can use their leverage to get more out of investor Chris Hansen in the process, good for them.

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GOOD

Posted by Reader01 on July 30, 2012 at 6:08 PM

yes, this will pay for itself, like the kingdome! they can never leave! we will get a great asset, an empty 30 year old stadium, those sell like hotcakes on craigslist! and man what a deal, providing the key seed money and getting a wopping 4.5% return on investment, that's exactly how venuture capitalists make their partnerships and investments.

Posted by We the Chump People on July 30, 2012 at 6:14 PM

Yeah and pay the players more than just a few million bucks per year, don't be so cheap.

Posted by Sargon Bighorn on July 30, 2012 at 6:15 PM

So Ferguson voted for and Dunn voted against. I wonder if this will affect the AG race?

Posted by Brian2 on July 30, 2012 at 6:28 PM

maybe some reporter should ask for their legal analysis of the risk factors, can the team leave, in effect or legally, what happens in bankruptcy -- i doubt either one of them has the slightest idea. the last time we had a public lawyer deal with basketball lease issues and how enforceable is a lease, um, it didn't go so well. maybe ferguson and dunn could care to explain to us the legalisms of how come the sonics could leave, when the lease said they couldn't? and then tell us what different this time so we're not like lucy and charlie brown.

Posted by "specific performance" redux? on July 30, 2012 at 6:39 PM

Does no one in politics understand risk management?

Posted by Westlake, son! on July 30, 2012 at 7:23 PM

@4,

I wouldn't vote for Dunn, but if I could take back my vote for Ferguson right now I would.

Posted by Mr. X on July 30, 2012 at 7:57 PM

ditto #7. ferguson can take a flying eff...

Posted by south downtown on July 30, 2012 at 8:00 PM

Has anybody ever tried to figure out how McGinn could be skeptical of the tunnel financing yet can swallow this fishy arena deal with no problems? It's weird.

I suppose people who wanted a tunnel wanted it no matter what, and they don't care if future leaders inherit a half dug tunnel with mounting cost overruns. And people who want basketball want it no matter if the next generation inherits another huge stadium boondoggle, not paid for and the team threatening to skip town, again, if we don't build another new one. Like they always do.

We should borrow $200 million and buy our own team and leave these rich pricks out of it. In the end they always screw over the fans and the city.

Posted by Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn

on July 30, 2012 at 8:10 PM

"Has anybody ever tried to figure out how McGinn could be skeptical of the tunnel financing yet can swallow this fishy arena deal with no problems? It's weird."

Uhhhh maybe because IT'S A WAY BETTER FUCKING DEAL???

Posted by Reader01 on July 30, 2012 at 8:41 PM

@9

We voted in favor of the tunnel because we were well passed the planning phase, it took so long that it should have been done by now. Plus the opposition had nothing to offer in return as all previously studied options (hybrid tunnel, complete rebuild, etc) were all voted down, 60% felt no choice but to move on.

Need 400-500 million to buy an NBA franchise. Sure the Bucks are least valuable, but they would never sell and move ending 44 years with the Milwaukee.

Plus the NBA would never allow a city to own a franchise the way the GB Packers have. Unless the Citizens United ruling can be applied so that cities are too considered people and as such, are able to be transferred from a private group or person.

Posted by Kinison

on July 30, 2012 at 8:49 PM

@11 not to beat a dead horse eternally, but one option was never voted on and kept from the wider public: the cut and cover option, where southbound traffic goes at below (if I recall right) current street grade and northbound at current street grade or a smidge higher, with that covered as well, and turned into a walkable waterfront park that connected to the Market.

Posted by Joe Szilagyi

on July 30, 2012 at 10:01 PM

Chick-Fil-Gay Sandwich

If you’ve been dreaming of a way to make your very own junky fast-food-that’ll-kill-ya at HOME, today is your lucky day! Here is Chick-Fil-A’s secret recipe* and my secret* home-frying technique, because unlike those chicken behemoths, CFA and KFC, we little people don’t have pressure fryers in our kitchens...

http://hilahcooking.com/chick-fil-a-copy…

Posted by Supreme Ruler Of The Universe