SODO Arena group counters Mayor Ed Murray, Oak View Group!

Chris Hansen and the SODO Arena group fired back today at Mayor Ed Murray and the Oak View Group, releasing a statement:  

"In response to recent questions raised by some, we would like to share a financing letter provided to us by JP Morgan Chase & Co, the largest bank in the U.S. and one of the pre-eminent lenders in professional sports. While similar in some respects to Oak View’s Goldman, Sachs & Co financing letter, a notable difference is that there is no mention of “tax rebates” in the JP Morgan financing letter. This is because no public tax money is required for the SoDo Arena project.

As we have highlighted on a number of occasions, with over $150 million in capital invested in real estate and legal and entitlement costs related to the arena project, we have already invested the vast majority of the equity necessary to build a world class sports venue. Accordingly, this letter should provide clear evidence of the ability of our group to finance the project — and do so without public financing from the City, County or State." 

Here's their full statement:

Mayor Ed Murray said on King 5 Morning News that the SODO group still needs financing and the Oakview group has all the financing in-place. 

The Ian Furness Show

The Ian Furness Show

Want to know more about The Ian Furness Show? Get their official bio, social pages & articles on Seattle's Sports Radio 950 KJR!


Content Goes Here