As we impatiently await word from the NBA on whether or not Chris Hansen's bid to buy the Sacramento Kings and turn them into the Seattle Sonics is approved, the question that every Seattle basketball fan dares not ask but is quietly thinking is...what happens if they say no?
Well, first things first, if the Sacramento group wins the bid, then they will have to reimburse Chris Hansen and his fellow owners for $30M as part of a non-refundable deposit when they initially agreed to purchase the franchise.
As for the SoDo Arena itself, pretty much everything will come to a screeching halt. Construction on the arena is dependent on Hansen acquiring an NBA team to play in it. Even if this deal falls through and the rumored NHL franchise happens first, it's still not enough to put the deal through.
That said, the arena wouldn't be dead and all would not have been for naught. It just means that Hansen and his team would move into Phase 2, trying to convince the NBA to give him an expansion franchise and/or find another team interested moving to Seattle.
Of course, this would also means everything else in SoDo goes on hold. The proposed entertainment complex as well as the construction and traffic improvements.
Another victim, oddly enough, would be KeyArena. Even though the Seattle Center arena would only be a temporary home to the franchise upon their return, that's two years worth of potential revenue coming in to the neighborhood. Gone.
About the only people who will jump for joy? The International Longshore and Warehouse Union, who are trying like hell to block the arena through various lawsuits and challenges.
One way or another, we should know for sure by next week (unless we don't).
· How the Sacramento Kings were won [Crosscut]
· Source: NBA Asks One Kings Bid Group To Cover The Other's Cost [SBD]
· Only NBA team needed for Seattle arena to move forward [SeattlePI]
· Gary Bettman on Coyotes sale: more interest than ever before [Puck Daddy]
· Will Key Arena Be Ready For The Sonic's Return? [Curbed Seattle]
· Today In SoDo Arena Developments: How Bout An Entertainment Complex, Too? [Curbed Seattle]
· All SoDo Arena Coverage [Curbed Seattle]