Christopher Hansen, a hedge fund manager from San Francisco and a Seattle native, thinks he can get a building built in downtown Seattle. He's bought land in downtown, near where the NFL's Seahawks and MLB's Mariners play.
Hansen, as detailed by the Seattle Times earlier this month, has been engaged with Seattle's political leaders since early last year. His group's plan is to fully fund a new arena with private financing -- more than the $375 million it cost to build L.A.'s Staples Center, which opened in 1999, according to a source with knowledge of the group's plans. Keeping the financing private instead of seeking state or local funds will avoid the fiasco in Seattle last time, when the Sonics' attempts to finance a new building stalled before owner Clay Bennett moved the team to Oklahoma City in 2008. Bennett sought tax dollars to help finance a $500 million arena and entertainment complex in the Seattle suburbs, but that plan met with heavy resistance both in Seattle and with state legislators in Olympia.
Another source said the Hansen Group and the mayor's office are determined to avoid dealing with Frank Chopp, the House speaker in Olympia who was adamantly opposed to using any public funds for a new arena. The hope is not to have to go through Olympia "for funding, for blessing, for anything," this source said. Hansen will need the help of King County officials, some of whom were not helpful the last time around.
