Metro Seattle: NHL, NBA and Arena - Part VI
View Single Post
04-08-2013, 04:04 PM
Join Date: Apr 2010
from the sonics arena website
Originally Posted by
Again, the total cost of the Arena and NBA franchise is projected to be in excess of $800 million, and if we add an NHL franchise, the total investment is expected to be in excess of $1 billion. Thus, even though the private sector contribution will still be in excess of $600 million ($800 million with hockey), the $200 million public contribution meaningfully reduces the significant capital required to fund the Arena construction.
We would also just like to clarify one other point. Contrary to recent speculation from some journalists that our group plans to use debt to finance the entire private contribution, the NBA investor group is planning to invest $300-400 million in “cash equity” into the project (Arena and NBA Franchise), and additional equity will be contributed if an NHL franchise is acquired. The private debt financing contemplated for the project is less than $300 million ($150 million for the Arena, $125 million for the NBA franchise).
View Public Profile
Find More Posts by silvercanuck