One of the primary reasons why there is even the push for the Sonics to find a new home is that many think the current home is not up to part. In another words, Key Arena either needs renovations, or a new arena must be built from scratch to house the Sonics. When Howard Schultz only offered to put up $10 million of the needed $300 + million, the City of Seattle said no. Don't get me wrong. I can't blame them.
The Sonics are a privately owned sports team, and while they do benefit the city in a variety of ways, they are ultimately not community property. And despite many fans desire to make the team publicly owned like the Green Bay Packers, it's really not likely to happen. I think it is unrealistic for Schultz to expect the City of Seattle to tax residents $290 million in order to renovate a stadium. What is currently being proposed is much more realistic, and is the best chance of keeping the Sonics in Seattle.
Here is what is being proposed, and how you can help. Steve Ballmer and John Stanton, who have made fortunes in software and Wireless technologies, have offered to fund the renovations for $150 million each out of their pockets. This provides $300 million dollars out of the projected $375 million budget for the renovation. I personally feel like $75 million is a lot more reasonable request of the city council's contribution than $290 million, and they seem to be in agreement.
Representative Roger Goodman, a Democrat from Kirkland, WA, announced to a large crowd of fans rallying outside of the state capital that "multimillions of dollars" is the likely contribution the city is willing to make for the renovations. The money would come from taxes targeting only Seattle, and not Washington state as a whole, likely from restaurant and car rental taxes. What can you do? Support the proposal when the deal is on the table. The bad news? Nothing is likely to be proposed until next year, and Bennett has his meeting with the NBA right around the corner. Stay tuned!
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