Deal Reached To Ready KeyArena For Sonics Return
SEATTLE (AP) — Seattle Mayor Mike McGinn says a tentative deal has been reached to ready KeyArena for the NBA’s return.
Under the agreement, which still needs City Council approval, the prospective new owners of the Sacramento Kings would pay a guaranteed rent to Seattle, ensure that all city employees at KeyArena retain their jobs, and assume operations of the arena beginning this July and lasting as long as NBA basketball is played at the facility.
A group led by hedge fund manager Chris Hansen is seeking to buy the Kings and move them to Seattle, where they plan to build a new $490 million arena for professional basketball and hockey. The sale requires league approval, which could come this week.
The NBA’s SuperSonics played in Seattle from 1967 to 2008 before moving to Oklahoma City.
Copyright 2013 The Associated Press.