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Seattle plan too good to be true?

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08:07 AM ET 02.20 | On paper, Seattle's NBA bid looks like a winner -- though, as one expert said, "The devil is in the details." While the deal promises risk-free public investment, success is pinned more to fuzzy estimates than hard numbers. For example, team owners would repay the city and county's $200 million debt through rents and taxes, including sales, property, admissions and business-and-occupation taxes generated by the arena. The annual debt payment is likely to be $15 million to $16 million. ... But rent payments would likely provide only "several million" dollars a year, city and county officials say. The balance must come from tax revenue on ticket and concession sales. But no one can predict those sales year-to-year with certainty.

The Seattle Times

David Stern, Getty Images David Stern, Getty Images
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February 20, 2012  10:22 AM ET
QUOTE(#1):

As long as there is no expansion.....I dont care if there is a team there or not

of course you can talk like that cause your not a sonics fan LOL. That city got ripped off with everything. Heck, their 79 trophy is own by Clay Bennett. He claims all the sonic franchise records...smh

February 20, 2012  10:23 AM ET

The minute the city of Seattle gets a team back, Gary will deep sigh and have his jersey retired in front of the seattle fans.

February 20, 2012  10:28 AM ET

New Orleans is owned by the league, that would be the first team they'd look at moving. They wouldn't expand and they're already in the west. Seattle is a great fan base, it's a no brainer to move the Hornets there.

February 20, 2012  10:45 AM ET

Not sure why the situation is more workable in Seattle than NO. The eventual buyer of the Hornets will have a say-so where he (she?) puts their club, correct?

February 20, 2012  11:36 AM ET

It Won't Work, Bro.

February 20, 2012  11:56 AM ET

Really? Seattle does not deserve team. The state of Washington has already ponied up approx $750 million for 2 venues. Now, we need to funnel additional tax revenues into another? Anyone seen the state budget deficit? Stop the insanity. I love watching basketball, but this is crazy.

February 20, 2012  12:53 PM ET

Washington State has a destructive array of tax breaks for wealthy corporations such as Microsoft.

February 20, 2012  03:43 PM ET

Huh? "Seattle does not deserve a team". Who the heck are you to say that?
David Stern and Clay Bennent stole the Sonics from Seattle. What a crock of ****.
Ya, most folks don't care what happened, but New Orleans or Sacramento might get to experience what Seattle went through very soon. I tell ya... I don't even watch the NBA, maybe some of the highlights on SportsCenter. No interest thanks to Mr.Stern. I don't want another NBA team in Seattle. It has been brutal to see Kevin Durant become an All-Star and watch the Thunder become a great team, that team should still be in Seattle. Go pee up a tree Mr.Stern.

February 20, 2012  06:00 PM ET

Not a dime more of taxpayer funds for stadiums or arenas to further enrich billionaire owners or millionaire athletes. Let them pay for them through ticket revenues.

Studies have shown over and over that stadiums and arenas are a lousy public investment. Let the "lucky" 20,000 ticket holders pay for the arena. A professional basketball team is NOT a public entity.

 
February 21, 2012  02:55 AM ET

You anti-arena and anti-stadium people are ridiculous. Yeah, I would like for someone to show me exactly how much money an arena costs them, personally, every year. Please, show me the dollar amount you shell out every year, in order to have the arena built. You know what? You can't, because there's no possible way for you to do it. You're just a bunch of freakin' whine bags, who understand little about the positive economic impact an arena provides. It's not just for Basketball and Hockey, you doomazzes! Yeah, once again, it cost YOU how much per year for a new arena?

Key Arena cost only $7 million dollars to build, and it was a state of the P0S art, or junk art. Seattle will do just fine with the relocation of the Hornets, along with the relocation of the Coyotes.

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