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Hedge-Fund Manager Hansen Confident In Seattle Arena, Even With Private Financing

Hedge-fund manager Chris Hansen remains "confident that his goal of being the facilitator for getting the NBA and NHL to Seattle will ultimately be realized," even if that means "dipping even deeper into his pocket to offer up a privately financed facility," according to Tim Booth of the AP. Hansen: "We’re not a for-profit enterprise that is attempting to generate a certain level of return on capital as we look at this project to justify it. We’re like, 'What can we do just to make this work for the city and hopefully if we do that part, in the really long term it will work out for us.'" Hansen on Thursday gave his "first extended interview since the Seattle City Council denied a needed street closure last May that was part of a proposal that included a public contribution to the arena project." Hansen said that his group will "have an equity stake in the arena and a possible NBA franchise." He also reiterated the group has "held discussions with parties interested in bringing the NHL to Seattle, but any group interested in hockey must be willing to pay the cost of the franchise and also have contribute a financial stake in the arena." Hansen: "We haven’t attempted to bid on an NHL team. Bidding on an NHL team is their own responsibility." Booth noted the city issued an RFP for "modernizing the arena in January and they’re due April 12." Two groups -- Oak View Group and AEG -- have "stated they intend to submit proposals for the arena that could include the potential for housing a professional sports franchise." Hansen said that his group "fully supports the idea of KeyArena as a music and entertainment venue, but viewing the project as a sports facility could ultimately delay potential opportunities for the NBA or NHL" (AP, 2/16).

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