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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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.
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