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Published: Tuesday, June 19, 2012, 11:45 a.m.
Story tags » NBA

Hansen: NBA's return to Seattle requires patience

Story tags » NBA
  • Investor Chris Hansen waves to supporters of a proposal for a new NBA arena during a rally Thursday in Seattle.

    Associated Press

    Investor Chris Hansen waves to supporters of a proposal for a new NBA arena during a rally Thursday in Seattle.

SEATTLE -- Chris Hansen sees the groundswell of support that seems to be developing in the community for his push for a new arena that could bring the NBA back to Seattle.
The leading investor in the project hopes those supporters don't become disillusioned if it ends up taking five to seven years for pro basketball to return if Hansen's current arena proposal is approved by local lawmakers.
"We keep saying it, and I think people are listening and hearing us say it, but they're probably hopeful it happens before then," Hansen said in an interview with The Associated Press on Tuesday morning. "I think they're so excited about the prospect of us getting the deal through that they haven't thought about the patience required on the other end.
"I'm sure there could be some disillusionment if this takes a long time. That's one of the things that worries me."
Hansen's arena proposal, which calls for nearly $300 million in private investment for the $500 million facility, is being vetted by the Seattle City Council and King County Council. The public investment is capped at $200 million and would come from taxes and revenues generated through the new facility. They would be paid through 30-year bonds and any franchise that relocates to Seattle would be required to sign a non-relocation agreement that would span the life of those bonds.
Hansen was scheduled to speak before the county council later Tuesday and in front of the City Council on Wednesday.
One question Hansen will not be able to answer is when a team might be coming back to the Puget Sound area if the proposal is approved. Hansen said he expects more NBA franchises to become available for relocation in the next five years and that the key is for his group to be a viable option when a franchise begins looking for a new home. That means having an approved arena plan and all preliminary work done or in the process of completion so a shovel can go in the ground on the new facility when a team is acquired.
Hansen declined to talk about specific franchises or details about discussions with the NBA.
"With the different opportunities that are out there, our job is to stand up and make the best case for Seattle," Hansen said. "It's not to be predatory and go out there and wrestle a franchise loose from some town where the ownership group wants to keep it there. It's when the decision is made that they would like to relocate, we would like to be the option for that relocation."
While Hansen, who grew up in Seattle and runs investment firm Valliant Capital in San Francisco, has been the public face of the arena proposal, his plan gained a strong backbone last week when he announced that Microsoft CEO Steve Ballmer would be part of his investment team for the arena and a franchise. Brothers Peter and Erik Nordstrom, members of a prominent Seattle family that owned the NFL's Seattle Seahawks from 1976-1988, are also part of the investment team. But Hansen said Tuesday that the other members of the group would likely remain silent until a team is acquired.
"I hope people appreciate that Steve and Pete and Erik Nordstrom were willing to come forward at this time when we don't actually have something to invest in, other than some land, because they think it's a good statement for the community and they're really supportive of what we're trying to do," Hansen said.
Story tags » NBA

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Story tags » NBA