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Arena group proposing rapid construction timeline in Seattle

9 years ago in Local Sports

Tim Leiweke, CEO of the Oak View Group, speaks in front of KeyArena during a news conference, Wednesday, June 7, 2017, in Seattle. Seattle Mayor Ed Murray said Wednesday that the city will enter into negotiations with the Oak View Group on a proposal for a privately-financed renovation of the city-owned KeyArena. Plans for the remodel would bring the building up to standards that could attract an NHL or NBA franchise once completed. Photo: Associated Press/(AP Photo/Ted S. Warren


TIM BOOTH, AP Sports Writer

SEATTLE (AP) — The investment group attempting to remodel KeyArena so it would be capable of hosting NBA and NHL teams is proposing an ambitious timeline that could have the building ready by October 2020.

The timeline was laid out in a proposed memorandum of understanding between Seattle and Oak View Group. The MOU will be presented to the Seattle City Council on Tuesday but the final version of the agreement won’t be voted on until the first week of December at the earliest.

Oak View Group CEO Tim Leiweke says the project is expected to total $600 million and will be privately financed. That total does not include an additional $40 million requirement to help improve transportation in the area around Seattle Center. The lease agreement between the group and the city would be for 39 years with two eight-year rollover extensions possible.

KPUG Update: According to multiple reports, Mayor Ed Murray’s office has canceled today’s press conference with the Oak View Group amid more allegations of sexual abuse against the Mayor.

 

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Tags: City of Seattle, KeyArena, Memorandum of Understanding, Oak View Group, Seattle Center, Tim Leiweke

Story © 2017 Associated Press - Images © 2017 Associated Press

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