HFBoards

Go Back   HFBoards > General Hockey Discussion > The Business of Hockey
The Business of Hockey Discuss the financial and business aspects of the NHL. Topics may include the CBA, work stoppages, broadcast contracts, franchise sales, and NHL revenues.

Metro Seattle: NHL, NBA and Arena - Part IV

Closed Thread
 
Thread Tools
Old
04-06-2012, 07:40 PM
  #651
gstommylee
Registered User
 
Join Date: Jan 2012
Posts: 3,940
vCash: 500
http://seattle.gov/arena/docs/FINAL-...2012-04-04.pdf

The 17 page document that was released last Wednesday of the Arena Review Panel Report.

gstommylee is offline  
Old
04-06-2012, 07:56 PM
  #652
JawandaPuck
Moderator
Lost Art of Dynasty
 
JawandaPuck's Avatar
 
Join Date: Apr 2007
Location: Vancouver BC
Country: Canada
Posts: 4,268
vCash: 500
Quote:
Originally Posted by gstommylee View Post
http://seattle.gov/arena/docs/FINAL-...2012-04-04.pdf

The 17 page document that was released last Wednesday of the Arena Review Panel Report.
As proposed, there are two points in time at which public funds would be contributed to the project. Prior to the first contribution, several things need to have occurred, including:
  • All land use processes are successfully completed;
  • Both NBA and NHL teams are secured, with 30-year non-relocation agreements;
  • Initial investor group financial obligations satisfied, including private funding of a security reserve; and
  • Disclosure of members of the investor group and appropriate due diligence on their financial wherewithal would be completed.

__________________
Follow JawandaPuck on Twitter and Blogspot - all revenue from Google Ads is donated to the Canucks for Kids Fund (CFKF) in support of the Canucks Autism Network (CAN).
JawandaPuck is offline  
Old
04-06-2012, 07:58 PM
  #653
bruceman
Registered User
 
Join Date: Feb 2012
Posts: 2
vCash: 500
I think Gary Bettman would prefer Seattle over Quebec city right now,as long as Seattle has it's arena plan worked out,he would prefer Seattle over Quebec City as I'm sure he dosen't want to lose another American team to Canada.The Key could a temp building.I pretty sure Phoenix is gone next year and as someone who travels to Seattle frequently I would love a team in Seattle.Quebec City will get one probably through expansion.

bruceman is offline  
Old
04-06-2012, 08:07 PM
  #654
JawandaPuck
Moderator
Lost Art of Dynasty
 
JawandaPuck's Avatar
 
Join Date: Apr 2007
Location: Vancouver BC
Country: Canada
Posts: 4,268
vCash: 500
Counter-Cyclical with MLB. Significant activity related to Safeco field primarily occurs between April and October, depending on playoff status of the Mariners. NBA and NHL seasons offer regular activity during the other half of the year, typically between October and April. Having said this, there is some potential for overlapping schedules should the teams continue into playoff seasons, and with other major events, so careful coordination with existing teams will be critical to achieving the community benefit.

...

Collaboration with Other Teams. In order to foster a successful long-term working relationship, it will be important for the new teams to interact cooperatively with the existing teams, particularly when it comes to scheduling events, but also to ensure that all parties contribute constructively to making the area more vibrant over time. Some initial thinking on a longer-term vision for the area has been done by the two existing public oversight boards for the stadium districts, and can be found online here:
www.stadiumdistrict.org

JawandaPuck is offline  
Old
04-06-2012, 08:12 PM
  #655
JawandaPuck
Moderator
Lost Art of Dynasty
 
JawandaPuck's Avatar
 
Join Date: Apr 2007
Location: Vancouver BC
Country: Canada
Posts: 4,268
vCash: 500
Consider Whether Local Market is Large Enough to Support Additional Teams.
Repayment of the public funds is largely dependent on the performance of the arena and teams (excluding security provisions). The City and County are likely unable to determine the extent to which the local market can support additional professional sports franchises. Ultimately, the NBA and NHL will provide their opinion on this through approval (or not) of locating franchises here for a minimum of 30 years. Regardless, accurately foreseeing the future over 30 years is impossible for any party, so the City and County should ensure that the final detailed form of security and risk mitigation provisions continue to protect both public partners.

JawandaPuck is offline  
Old
04-06-2012, 08:16 PM
  #656
JawandaPuck
Moderator
Lost Art of Dynasty
 
JawandaPuck's Avatar
 
Join Date: Apr 2007
Location: Vancouver BC
Country: Canada
Posts: 4,268
vCash: 500
Section 6: Conclusions
Based on their review, the Panel believes that the proposal is favorable, has promise and is generally consistent with the principles set forth by the Mayor and County Executive; however, there are many important elements to be worked through to ensure these principles are met and to address other issues of importance to the community. The proposal warrants the serious consideration of the City and County policy makers.

JawandaPuck is offline  
Old
04-06-2012, 08:23 PM
  #657
gstommylee
Registered User
 
Join Date: Jan 2012
Posts: 3,940
vCash: 500
Just to give my opinion on the document recommending both NHL and NBA being secured before funding is provided is not going to happen. I believe back when the announcement happen that it required both before construction started and has changed since then to where Hansen only needs the NBA to start construction. Plus its just their recommendation. I don't think they can legally prevent Hansen from starting construction once he gets the permits and secures a NBA team.


Last edited by gstommylee: 04-06-2012 at 08:34 PM.
gstommylee is offline  
Old
04-07-2012, 03:25 AM
  #658
No Fun Shogun
Global Moderator
34-38-61-10-13
 
No Fun Shogun's Avatar
 
Join Date: May 2011
Location: Chicagoland, IL
Country: United States
Posts: 21,547
vCash: 1
Quote:
Originally Posted by JawandaPuck View Post
[*]Both NBA and NHL teams are secured, with 30-year non-relocation agreements;
Yikes.... that is one heck of an initial barrier. I know it's just a suggestion, but if that's what they want before fronting any money or other type of assistance for a new arena, there might very well be a long wait as I don't see an existing ownership group being willing to relocate without a guarnatee of a new arena being built already in place.

No Fun Shogun is offline  
Old
04-07-2012, 09:15 AM
  #659
gstommylee
Registered User
 
Join Date: Jan 2012
Posts: 3,940
vCash: 500
Quote:
Originally Posted by No Fun Shogun View Post
Yikes.... that is one heck of an initial barrier. I know it's just a suggestion, but if that's what they want before fronting any money or other type of assistance for a new arena, there might very well be a long wait as I don't see an existing ownership group being willing to relocate without a guarantee of a new arena being built already in place.
Hansen since then said at some point after the original arena announcement that he just needs the NBA team first to get the arena started then get NHL later. One of the arena panels member said to kjr they were only going by what they were told from Hansen about needing both back during the press conference in Feb. The arena needs both for it to be a success but not necessary both for it to get built.

Its not going to happen and i doubt city and county are gonna prevent Hansen from putting his 290m of the cost forward and starts construction once he secures the NBA team.

Its Hansen's responsibility for to find and build the ownership group for both NBA and NHL. I just don't think Key Arena is that deal breaker in preventing a team from being relocated here not when the NHL has allowed similar size unideal arenas before.


Last edited by gstommylee: 04-07-2012 at 09:30 AM.
gstommylee is offline  
Old
04-07-2012, 09:16 AM
  #660
snovalleyhockeyfan
Registered User
 
Join Date: May 2008
Location: North Bend, WA
Country: United States
Posts: 411
vCash: 500
http://seattletimes.nwsource.com/htm...it08arena.html

Seattle Times editorial on arena proposal; they say it "deserves full vetting".

snovalleyhockeyfan is offline  
Old
04-07-2012, 09:49 AM
  #661
gstommylee
Registered User
 
Join Date: Jan 2012
Posts: 3,940
vCash: 500
Quote:
Originally Posted by snovalleyhockeyfan View Post
http://seattletimes.nwsource.com/htm...it08arena.html

Seattle Times editorial on arena proposal; they say it "deserves full vetting".
The article does make good points but then again i doubt it'll come to the situation where Hansen declares bankruptcy.

I don't like the what ifs this what ifs that from the article. Goverment doesn't work on what ifs. If every proposal was decided on what if's then nothing gets done.

A public vote is not necessary cause the 200m is not coming from new taxes or general fund. Yes they are bonds but those bonds are not being paid off by new taxes or general fund.

Yea there is risk that Hansen may default every proposal that goes through city hall has risks.

LOL at the comments boy they are stupid. One saying has Hansen is asking for 200m loan that may or may not result in a NBA team coming.

Well no team coming no arena.

Yea the big issue is how to pay for the transportation improvements but they can't ignore the issue and hope it goes away. These business that are opposing the arena due to potential traffic issues will end up being against it if the traffic issue isn't addressed and that would potentially mean it may get voted down.

gstommylee is offline  
Old
04-07-2012, 03:29 PM
  #662
knorthern knight
Registered User
 
Join Date: Mar 2011
Location: GTA
Country: Canada
Posts: 2,639
vCash: 314
Quote:
Originally Posted by gstommylee View Post
The article does make good points but then again i doubt it'll come to the situation where Hansen declares bankruptcy.

I don't like the what ifs this what ifs that from the article. Goverment doesn't work on what ifs. If every proposal was decided on what if's then nothing gets done.
Howsabout due-diligence and at least a risk assessment? Having lived in BC during the prelude to the Expo 86 fiasco, and in Toronto during the Skydome fiasco, let's just say that I'm somewhat skeptical about developers promising unicorns and rainbows.

Quote:
Originally Posted by gstommylee View Post
A public vote is not necessary cause the 200m is not coming from new taxes or general fund. Yes they are bonds but those bonds are not being paid off by new taxes or general fund.

Yea there is risk that Hansen may default every proposal that goes through city hall has risks.
Assuming Hansen has half-a-brain, it'll be a LLC (Limited Liability Corporation) funded by OPM (Other Peoples' Money). It can go under with Hansen's losses still being capped to minimal levels. The main worry right now for SODO arena proponents is Glendale, AZ going under. If it does, then the anti-arena crowd will drag it out every time as their poster-boy.

Quote:
Originally Posted by gstommylee View Post
LOL at the comments boy they are stupid. One saying has Hansen is asking for 200m loan that may or may not result in a NBA team coming.

Well no team coming no arena.
Ahem. According to KING5 at http://www.king5.com/news/arena/Chri...141822793.html
Quote:
Hansen said that a commitment from an NHL and NBA team to move to Seattle might not be needed to start construction on land in Seattle's SoDo neighborhood. Noting that construction would take a number of years, he said it's important for Seattle get started now.

knorthern knight is offline  
Old
04-07-2012, 08:37 PM
  #663
gstommylee
Registered User
 
Join Date: Jan 2012
Posts: 3,940
vCash: 500
Quote:
Originally Posted by knorthern knight View Post
Good find there. I didn't see that part.

gstommylee is offline  
Old
04-10-2012, 11:51 PM
  #664
gstommylee
Registered User
 
Join Date: Jan 2012
Posts: 3,940
vCash: 500
http://seattletimes.nwsource.com/htm..._hansen11.html

Hansen acquires the rest of the land needed for the arena. It goes on to say that Hansen is acquiring even more land north of the site but is not known what he is going to do with it. He said he may buy even more land at before he is done.

Makes me wonder if he is addressing the parking issue by adding another parking garage.

gstommylee is offline  
Old
04-11-2012, 02:20 AM
  #665
JawandaPuck
Moderator
Lost Art of Dynasty
 
JawandaPuck's Avatar
 
Join Date: Apr 2007
Location: Vancouver BC
Country: Canada
Posts: 4,268
vCash: 500
Quote:
Originally Posted by gstommylee View Post
http://seattletimes.nwsource.com/htm..._hansen11.html

Hansen acquires the rest of the land needed for the arena. It goes on to say that Hansen is acquiring even more land north of the site but is not known what he is going to do with it. He said he may buy even more land at before he is done.

Makes me wonder if he is addressing the parking issue by adding another parking garage.
I think it goes beyond just parking...Feb 7/12:
"I'm surprised it hasn't happened already," Kelley said. "You go down there for a Mariners game and there are very few places to eat, very few places to hang. I think they need more of that anyway."

Building a new arena seems simple enough if the group is willing to put up most of the funding privately, but any new facility constructed in Seattle must make a profit after an initiative was approved in 2006. One way to make a profit is by surrounding the property with apartments, restaurants, hotels and condominiums, similar to L.A. Live in downtown Los Angeles.
But you're right, that block across from the existing parking garage would be ideal for additional parking. I'm guessing, the future purchases Hansen has in mind (possibly for hotels, restaurants, etc) would be the block directly west and south of the proposed arena site.

Current:


With arena & additional parking:

For those not familiarly with the area, just another couple blocks south of the proposed arena site is Starbucks World HQ. That's somewhat ironic since it was Starbucks head, Howard Schultz who sold the Sonics to the man that moved them to OKC.



Last edited by JawandaPuck: 04-11-2012 at 02:39 AM.
JawandaPuck is offline  
Old
04-11-2012, 09:26 AM
  #666
Winnipeg Jet
Phoenix Coyote
 
Winnipeg Jet's Avatar
 
Join Date: Jun 2011
Location: British Columbia
Country: England
Posts: 1,318
vCash: 500
Quote:
Originally Posted by JawandaPuck View Post
I think it goes beyond just parking...Feb 7/12:
"I'm surprised it hasn't happened already," Kelley said. "You go down there for a Mariners game and there are very few places to eat, very few places to hang. I think they need more of that anyway."

Building a new arena seems simple enough if the group is willing to put up most of the funding privately, but any new facility constructed in Seattle must make a profit after an initiative was approved in 2006. One way to make a profit is by surrounding the property with apartments, restaurants, hotels and condominiums, similar to L.A. Live in downtown Los Angeles.
But you're right, that block across from the existing parking garage would be ideal for additional parking. I'm guessing, the future purchases Hansen has in mind (possibly for hotels, restaurants, etc) would be the block directly west and south of the proposed arena site.

Current:

With arena & additional parking:

For those not familiarly with the area, just another couple blocks south of the proposed arena site is Starbucks World HQ. That's somewhat ironic since it was Starbucks head, Howard Schultz who sold the Sonics to the man that moved them to OKC.


Didn't the Starbucks guy try to buy the club back when he found out the new owner wanted to move the team away from Seattle?

Winnipeg Jet is offline  
Old
04-11-2012, 10:17 AM
  #667
gstommylee
Registered User
 
Join Date: Jan 2012
Posts: 3,940
vCash: 500
Quote:
Originally Posted by Winnipeg Jet View Post
Didn't the Starbucks guy try to buy the club back when he found out the new owner wanted to move the team away from Seattle?
He filed a lawsuit trying to nullify the sale of the team but when the city settled allowing the team to leave, there was no point in the lawsuit so he dropped it.

gstommylee is offline  
Old
04-11-2012, 08:46 PM
  #668
Dowisetrepla
Registered User
 
Dowisetrepla's Avatar
 
Join Date: Apr 2009
Location: Washington State
Country: United States
Posts: 409
vCash: 500
Quote:
Originally Posted by Winnipeg Jet View Post
Didn't the Starbucks guy try to buy the club back when he found out the new owner wanted to move the team away from Seattle?
It was sort of reminiscent of Claude Rains in Casablanca...he was SHOCKED! SHOCKED! that the guy from Oklahoma he sold the team to would actually move the team to Oklahoma!

Dowisetrepla is offline  
Old
04-11-2012, 10:45 PM
  #669
Mr. Fancy Pants
Registered User
 
Join Date: Sep 2002
Location: Gifu
Country: Japan
Posts: 160
vCash: 500
Quote:
Originally Posted by Winnipeg Jet View Post
Didn't the Starbucks guy try to buy the club back when he found out the new owner wanted to move the team away from Seattle?
Watch the documentary "Save Our Sonics" for details about how hard he "tried". I think the full video is available on vimeo and it's quite well done albeit a little biassed.

Mr. Fancy Pants is offline  
Old
04-12-2012, 11:27 PM
  #670
kdb209
Global Moderator
 
kdb209's Avatar
 
Join Date: Jan 2005
Posts: 12,169
vCash: 500
Since this has become an ersatz Sacramento Kings thread:

Sacramento business leaders want new Kings' owners
Quote:
Sacramento business leaders want new Kings' owners
By Antonio Gonzalez, The Associated Press Updated

Sacramento business leaders are asking NBA Commissioner David Stern and league owners to "strongly encourage" the Maloof family to sell the Kings so a deal for a new arena can proceed.

In a letter signed by about two dozen of Sacramento's most powerful businesses leaders and sent to Stern on Thursday, the group accuses Kings owners Joe, Gavin and George Maloof of not negotiating in good faith. It also questions whether the Maloofs have the finances — and motivation — to keep the team in Sacramento.
"We feel it is time for the Maloofs to sell their ownership of the franchise, for the good of the city and in the interest of advancing Sacramento's effort to build a downtown arena," a portion of the letter reads. "The city, the fans and the NBA deserve and require an ownership group that is fully committed to being a good-faith constructive participant in the arena process.
Sacramento Kings Arena Situation: Maloofs Meet With David Stern, NBA Owners, Mayor Kevin Johnson On His Way

Quote:
The Sacramento Kings still can't figure out if they're going to be the Sacramento Kings. The owners seem to be backtracking, the NBA is listening, fans of the team are seething, and everyone is a bit on edge about what's going on.

The Maloofs were in New York City today, discussing how the current deal forced them to pay too much of the original pre-development costs. So many mixed messages being sent here.

Quote:
On one hand, the family has said that they remain committed to Sacramento, and on the other they have unleashed a full-court legal press designed to disrupt the arena funding process.

The family’s newly hired ‘crisis consultant’ Eric Rose started feeding the family’s narrative to the press a few weeks ago, saying they don’t believe the city can deliver on a new arena in time for the 2015-16 season, and that Anaheim was still an option on the table.

Of course, if the city of Sacramento has any holes in its plans to build an arena by 2015-16, we now know that they will be cited by the Maloofs in today’s meetings as a reason the league should allow them to move to Anaheim, where they could make more money whether they keep the team or not.
The city is not happy with what the Maloofs are doing, and say as much (check out the PDF of the official response courtesy of the Sac Bee by clicking here)!

Quote:
City officials said this week that a massive records request submitted by the Maloof family has created a perception that the Kings' owners are trying to derail the arena process.

In a letter from the city attorney's office, the Maloofs' attorneys were told the records request created a "perception that this is an attempt to undermine the good faith efforts of so many people and organizations, including the Kings' fans."
David Stern Sets Up 'Surprise Meeting' With Kevin Johnson, Maloofs

Quote:
The Sacramento Kings are a focal point at this week's NBA Board of Governors meeting in New York. It was reported Thursday afternoon that Kings owners Joe and Gavin Maloof were asking their fellow owners to support their opposition to the current deal for a new sports and entertainment complex that is in place with the city of Sacramento, in addition to support for a potential move to Anaheim if the Maloofs do not get further concessions. It's a mess that will require additional discussions between Sacramento Mayor Kevin Johnson and the Maloofs. And according to Tony Bizjak of the Sacramento Bee, NBA Commissioner David Stern has set up a "surprise meeting" between the parties for Friday.

kdb209 is offline  
Old
04-13-2012, 12:39 AM
  #671
No Fun Shogun
Global Moderator
34-38-61-10-13
 
No Fun Shogun's Avatar
 
Join Date: May 2011
Location: Chicagoland, IL
Country: United States
Posts: 21,547
vCash: 1
On the off-chance Seattle does land the Kings, I do hope you guys are able to find a way to squeeze the Maloofs out of the ownership picture in that market if at all possible. They just scream scumballs.

No Fun Shogun is offline  
Old
04-13-2012, 12:47 AM
  #672
Melrose Munch
Registered User
 
Melrose Munch's Avatar
 
Join Date: Mar 2007
Posts: 14,108
vCash: 500
Maloofs want out.

Melrose Munch is offline  
Old
04-13-2012, 12:48 AM
  #673
Melrose Munch
Registered User
 
Melrose Munch's Avatar
 
Join Date: Mar 2007
Posts: 14,108
vCash: 500
Quote:
Originally Posted by No Fun Shogun View Post
On the off-chance Seattle does land the Kings, I do hope you guys are able to find a way to squeeze the Maloofs out of the ownership picture in that market if at all possible. They just scream scumballs.
The Maloofs could sell to burkle and stay or or sell to this guy and go.

Melrose Munch is offline  
Old
04-13-2012, 09:04 AM
  #674
cbcwpg
Registered User
 
cbcwpg's Avatar
 
Join Date: May 2010
Location: Between the Pipes
Country: United Nations
Posts: 5,427
vCash: 350
http://www.bizjournals.com/seattle/b...s-looking.html

Instead the parcel has been scooped up for $4.25 million by arena backer Chris Hansen, who is assembling a full block in Seattle's Sodo neighborhood for a new sports stadium.

cbcwpg is offline  
Old
04-13-2012, 10:13 AM
  #675
snovalleyhockeyfan
Registered User
 
Join Date: May 2008
Location: North Bend, WA
Country: United States
Posts: 411
vCash: 500
Quote:
Originally Posted by No Fun Shogun View Post
On the off-chance Seattle does land the Kings, I do hope you guys are able to find a way to squeeze the Maloofs out of the ownership picture in that market if at all possible. They just scream scumballs.
Agreed. IMO, I think the Maloofs are dead set on going to Anaheim. They, I don't think, want to see this proposal work in Sacramento because I don't think they even want to be there. They want to be in Anaheim.

Frankly, Stern can fix this problem right now if he wants to, but considering his past opinions on this possible fix (expansion), I don't think he's going to. And that's too bad, since this will end up being another black eye on his legacy.

BTW, in another sort of OT development, this about the Hornets:

http://www.nola.com/hornets/index.ss...w_orleans.html

Looks like Tom Benson, the Saints owner, is set to become the new owner of the Hornets. You know, if Bettman could have only gotten maybe the Bidwills (Cardinals owners) in on the Coyotes down in Glendale, those problems could have been solved long ago??

snovalleyhockeyfan is offline  
Closed Thread

Forum Jump


Bookmarks

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 09:57 AM.

monitoring_string = "e4251c93e2ba248d29da988d93bf5144"
Contact Us - HFBoards - Archive - Privacy Statement - Terms of Use - Advertise - Top - AdChoices

vBulletin Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
HFBoards.com is a property of CraveOnline Media, LLC, an Evolve Media, LLC company. ©2014 All Rights Reserved.