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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BY ERIC D. WILLIAMS
Eric.williams@thenewstribune.com
Indianapolis – A private investor group who have put up the lion’s share of a $300 million proposal to refurbish KeyArena say the clock is ticking on their offer to fund a new facility for the Seattle SuperSonics at Seattle Center.
In a letter addressed to Gov. Christine Gregoire and other top state lawmakers on Sunday, the investment group, headed by Microsoft executive Steve Ballmer, states that if they do not receive a $75 commitment from the state well before an April 10th deadline, “We will need to go back to our other responsibilities and our offer will expire.”
The group of four local businessmen includes Ballmer, local developer Matt Griffin, Costco CEO Jim Sinegal and wireless magnate John Stanton. The group partnered with the City of Seattle, and announced in a proposal last Thursday its willingness to buy the Sonics from its Oklahoma City-based ownership group, paying 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 so far.
However, Gregoire and the Legislature balked at addressing the issue this late in this year’s legislative session.
