Eric Williams covered the Sonics' last season in Seattle. A Tacoma native, Eric graduated from Mount Tahoma High and the University of Puget Sound.
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There is more private money. There are local investors. There are no tax hikes.
There just might not be enough time to keep the SuperSonics in Seattle.
A group of four local businessmen announced a proposal Thursday to buy the basketball team from its Oklahoma City-based ownership group and pay for half of a $300 million renovation of KeyArena.
The offer is contingent on the sale of the Sonics or another NBA team to the group and passage of legislation by state lawmakers. It’s the largest offer of private money to renovate the arena at Seattle Center thus far.
Matt Griffin, a Seattle developer and one of the private investors involved in the proposal to revamp KeyArena, spoke with Mitch Levy of KJR this morning.
Here's some info on Griffin. And here's his company's Web Site, Pine Street Group.
The City of Seattle will formally announce its intentions to rebuild KeyArena this afternoon at 3:30 p.m. in Mayor Greg Nickels' office.
The press conference I'm told will include a representative of the private investment group that has stepped forward and is willing to invest $150 million into a $300 million remodel. The other $150 million, according to several reports, will come from a $75 million chunk from the city, and a sought-after $75 million in state funds from an already existing tax.
I'll have more details this afternoon once the press conference concludes, along with reaction from state lawmakers, the NBA and the Sonics ownership group.
After two pretty good efforts Seattle struggles against a short-handed Milwaukee squad, losing 118-106.
The Sonics saw a lot of Charlie Villanueva, who started for injured rookie Yi Jianlian and finished with 32 points and 11 rebounds.
P.J. Carlesimo and Donyell Marshall had words on the sideline over defensive rotations, but Marshall said it was only a minor incident.
Listen to a conversation with Marshall here.
And the NBA is coming to Oklahoma City, or at least the relocation committee is on March 25 to check out the city’s Ford Center facility and review the city’s potential as an NBA city.
With less than two weeks left in the state Legislative session, Mitch Levy of KJR makes a plea for lawmakers in Olympia to seriously consider a recent $300 million plan to revamp KeyArena in which the state would have to contribute $75 million to the project. $75 million would be put up by the city, and $150 million would be put up by a group of Seattle-area private investors. I’ll have more on this today.
David Stern again has harsh words for Seattle and the situation with the Sonics in a visit to Portland on Tuesday.
