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.
MOU press conference on #KeyArena cancelled after new allegations against Mayor Ed Murray. pic.twitter.com/s0P8woRccf
— Geoff Baker (@GeoffBakerTIMES) September 12, 2017
Ed Murray's cousin has become the fifth man to accuse the Seattle mayor of child-sexual abuse. https://t.co/amgSrTpAhS pic.twitter.com/ei4uIsZMZv
— The Seattle Times (@seattletimes) September 12, 2017
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