In the letter, everyone on the Seattle City Council except for Bruce Harrell declares that Chris Hansen's proposed basketball arena agreements "do not represent an appropriate balance of public and private benefits, nor do they sufficiently protect the City from the financial risks inherent in the arena's financing."

However, the eight councilmembers say that if Hansen can address their concerns—among them, questions about Seattle's "lien position in relation to other lenders," and council complaints that "we have no direct knowledge or confirmation of your basic business plan"—then those eight letter-signers are ready to "quickly move forward a legislative package that is more financially balanced and strengthens protections for the City and its residents."

The signers of the letter: Sally Clark, Sally Bagshaw, Tim Burgess, Richard Conlin, Jean Godden, Nick Licata, Mike O'Brien, Tom Rasmussen.