The city of Seattle issued a request for proposals back in January with an eye toward hosting an NBA team — to replace the SuperSonics — or an NHL team. Conditions of the proposal required that any potential developer would have to be able to finance the project and then lease the arena from the city in return for naming rights revenue, sponsorships, ticket sales and other facility revenue sources.
Due to the historic significance of the KeyArena, it likely cannot be demolished, forcing any potential developer to work within the building’s existing shell.
