Seattle Zuper Zonics

Well, it is official. The (new) owner, Clay Bennett (an Oklahoman on top of that...), like to see the taxpayers in Washington State pony up some $300M for a new arena for the Seattle SuperSonics. Folks, that is $300,000,000.00 if you write it out. He has even decided on the location, Renton, even though the owner of that parcel has different ideas (even though I firmly believe it is just a negotiation game) and like to build a mall and condo complex.

Mr. Bennett said in an interview with Seattle Times the other day that "(it) would likely be the most expensive arena in the country". $300M from the state, $100M from the City of Renton, and $100M from Bennett and his co-conspirators would indeed make this an expensive arena. Indeed.
I am not sure that is anything to be proud of, and I am sure it will not help him in getting "us" to fund his pipe dream. An "elaborate" arena, at "low" cost, that'd be something the he could sell! Now he instead is trying to sell a Lexus with a Ferrari price tag.

Mr. Bennett has even publicly said that he does not want the "tax" (funding) of the arena to go to a public vote, but instead hopes lawmakers will do "the right thing". I both hope and think that lawmakers will do the right thing. Lawmakers will send Mr. Bennett (and likely then also the team) all the way home to Oklahoma. He will not be missed!

Who really cares? Well, the people who want to see a professional basketball team in the Seattle area cares. I am not really one of them, but I do not mind a team if we have one. I might even enjoy a game now and then. I am however not ready to pony up big $$$ in some type of corporate welfare, even if it means just "extending" taxes we are already paying (these taxes could better be used for a new 520 bridge, a down town tunnel, new light rail, more marinas, you name it).

If there is a market here for a team, which I firmly believe there is, one will try to establish themselves here once the Sonics are gone. The existing arena (KeyArena for you out-of-towners) is a nice facility smack dab in downtown Seattle. It is also the "anchor" at the Seattle Center, together with the Space Needle. It is really conveniently located for the entire region! And, remarkably, it is not sold out during the current Sonics games. What gives? Maybe the game is not good enough (entertainment)?

Leaving that arena unutilized - which it likely would end up being if another mega arena was built in Renton - is not only bad public policy, it is bad economics. Heck, we have not even paid off the mid-90ies renovation (that was asked for by the basket ball team) of said arena.

Lawmakers; Do not bend over for some pressure from someone who wants a "garage" to park his pro sports team. It is no longer sports, it is (big) business. And like every business owner knows, you need to have a product to sell, a product that is attractive to the market, and buyers willing to pay a price, a price that is above your cost. If the Sonics "do not sell", well I guess then their product is simply not good enough for this (demanding) market, or too expensive! Funding them with tax dollars will not decrease the price.