What will the future bring for Big 4 Sports in Seattle? As of now, the Seahawks and Mariners are the only major professional teams residing in “The Emerald City”, but that may be subject to change in the near future. Christopher Hansen, the founder and manager of the Valiant Capital Management hedge fund based out of San Francisco, has submitted a proposal to build a new arena, and bring an NHL and NBA franchise back to Seattle. He has agreed to contribute a $290 million investment to the city for the construction of the arena. Seattle is currently the only top-15 media market without at least 3 major professional teams, and Hansen is even offering up his own land to change that.
In order for this proposal to go through, there are still a few I’s to be dotted, and T’s to be crossed. The city and county must approve the allocation of $200 million to complete the cost of construction for the building. The NBA and NHL must agree to establish a new franchise (or transfer an existing one). City officials have stated that they will not break ground on the process until it is determined that two franchises will call it their home, with a 30-year agreement and a no-relocation clause.
With the risk involved for Hansen’s investment group, it will be interesting to see how the situation pans out. Expect to see a decision made by the city council in early June, once they’ve reached out to NBA and NHL officials to gauge their interest in bringing a franchise to Seattle.
Would you want to see Seattle acquire two new franchises? Would you rather they go to New Orleans? Or Sacramento? Feel free to share your thoughts.
--Written By Hayley Zedeck
@hzedeck
I would be very surprised the NBA went back to Seattle especially with how the Super Sonics went out. It will be interesting to see how this plays out.
ReplyDeleteWhen I first heard the guy's name was Chris Hanson I immediately thought of the guy from Dateline NBC. I was thoroughly disappointed when it wasn't.
Don't discount the Seattle Sounders of the MLS. They have a huge following, probably top 3 in supporter in the league in number and loyalty, and soccer is big in the NW.
ReplyDeleteI've been calling for an NHL team in Seattle for four years. I think it'd be brilliant--give more exposure and build fan bases in the Pacific Northwest (outside of Vancouver)
ReplyDeleteI'd like to see the NBA return as well, but I don't see it happening anytime soon.