Details of the NBA arena plan for Seattle were laid out by Seattle’s mayor and the money behind it, hedge fund manager Chris Hansen, in a press conference that sounded more like a pep rally. They bathed the plan in glowing terms as filled with private investment and risk free to the taxpayers.
But the truth is that it has a long way to go. It has a lot of moving parts and any number of things can kill it. That it starts with Hansen taking on the challenge of buying an NBA team.
Hansen submitted a proposal to (Seattle) on Thursday that calls for $290 million in private investment, plus the cost of acquiring an NBA franchise, to help construct a facility that would cost between $450 million and $500 million.
According to a letter submitted by the Seattle native to the city, the remaining construction and development costs would be financed by the city and King County using taxes and revenues generated by the new facility and rent charged to the teams playing in the arena. City officials are adamant that there will be no new public taxes needed for the building.
Basically it works like this: The city will go through the process — environmental impact reports and the like — and get everything in place. Then all Hansen has to do is buy an NBA team and recruit an NHL team to play in the building. Once he does that, he will put his money in, the city will put its money in and construction will start.
The NBA is not going to expand, so Hansen would have to buy an existing team and move it. That is where Sacramento rumors come in, as there have been rumblings that a new investor (at the least) could come in there and the team almost moved to Anaheim last summer. The league has a team for sale but doesn’t want it moved out of New Orleans. Yet. And other teams do come on the market — it’s usually just not that easy to move them
But Seattle has a start on getting the Sonics back. It’s a long, long road but the first steps have been taken.
Report: Lakers working toward buyout with Jose Calderon; Warriors, Rockets interested
The Lakers took on the salary of Jose Calderon this year so they could get a couple second-round picks from the Bulls (Chicago got him from New York in the Derrick Rose trade), but even with the previous regime in Los Angeles the aging point guard was never part of the future.
Sources told ESPN that it’s not yet a certainty Calderon will secure his release from the Lakers in the coming days, but the sides are indeed discussing the options as Wednesday’s playoff eligibility deadline nears….
Sources say that Calderon, if he winds up hitting the open market, would instantly become a target for both the Golden State Warriors and the Houston Rockets.
Cleveland may also have interest if their plan to land Deron Williams when he is bought out by Dallas goes awry.
Calderon, 35, was not part of the Lakers’ regular rotation, playing in just 24 games. He can still knock down a shot if he has space and can set his feet, and he still has a high hoops IQ and can see the floor, but his athleticism has faded, and that can leave him exposed. Particularly on defense.
Players are being waived now so they clear in time for teams to sign them by March 1, after that said players are not eligible for playoff rosters.
There are better players to hit the waiver wire in the coming days — D-Will, Andrew Bogut, Matt Barnes — but Calderon is going to land somewhere. He’d be a solid third point guard and veteran presence for a playoff run.
Marquese Chriss blocks Bobby Portis, who gets testy (video)
The time off during the All-Star break did Dwyane Wade some good.
The Bulls guard turned back the clock on Friday night, leading the Bulls with 23 points and topping it off with this dunk that proved to be the dagger, sealing a Chicago win. The Suns were convinced Wade was going to run the shot clock way down before making his move and they lollygagged into position — so he just blew past everyone for the poster slam.
With a couple of minutes left to go in the second quarter, Isaiah Thomas made the steal when DeMar DeRozan lost the ball on a drive, and Thomas was off to the races. Trying to prevent a lay-up, Carroll decided to foul Thomas far from the basket, but did so with a forearm shove that sent Thomas sprawling on the ground.