Two groups submitting official proposals today to renovate Seattle's KeyArena have "secured major partnerships that could go a long way toward re-assuring fans about their ability to lure an NHL team," according to Geoff Baker of the SEATTLE TIMES. Oak View Group has "signed a future KeyArena concessionaire partnership" with Delaware North. Meanwhile, AEG plans a "joint venture" on its full arena remodel with Hudson Pacific Properties, a real-estate company whose owner, Victor Coleman, had "hoped two years ago to bring an NHL expansion team to a separate arena project pitched by entrepreneur Chris Hansen in the Sodo District." However, neither OVG or AEG "would be a team owner if it wins the right to remodel and manage KeyArena, leading to some apprehension locally that neither is prepared to take the needed steps to land franchises." In landing Hudson Pacific as a full arena partner, AEG "appears to have secured a future team owner." But for now, AEG and Hudson Pacific officials "will say only that the partnership is strictly about the real-estate portion of the arena remodel -- unwilling to appear presumptive about NHL expansion before any process is announced." AEG and Hudson Pacific have "formed a company called 'Seattle Partners' to conduct their arena remodel, expected to cost" between $300-500M (SEATTLE TIMES, 4/12).
