Isn't it weird that ... Prospective arena investor Chris Hansen, according to the Seattle Times and other media, didn't have enough money in 2006 to even entertain the idea of buying the Sonics—yet just three years later, he was flush enough to offer $357 million to buy the Sacramento Kings and build a new arena—and to guarantee that if the arena didn't pencil out, he would personally pay for any outstanding debt?
Seattle officials have repeatedly reassured arena skeptics by pointing out that Hansen has promised that if the arena went into default, he would pay up any funding shortfall out of his personal fortune; given that that fortune appears to be quite volatile (just yesterday, for example, came the news that Hansen's hedge fund had posted its second quarterly loss this year, of 8.7 percent), it strikes us as weird that Seattle officials were so blithely confident he could make good on his extravagant promises.If Seattle doesn't end up with a new NBA team, the money Chris Hansen has pledged to put into KeyArena goes away.
Isn't it weird that ... No one's talking about Key Arena?
If Seattle doesn't end up with a new NBA team, the money Hansen has pledged to put into KeyArena ($2 million for a study of what to do with the facility, plus another $5 million to be spent either at the Key or diverted to the new arena if the Storm decided to move to the new arena instead of staying put) goes away.
That leaves KeyArena right where it is now—a supposedly dilapitated, obsolete facility for roller derby, women's basketball, concerts, and high school graduations.
And today's third arena Isn't It Weird That item comes from Mayor Mike McGinn ...
Back in February, McGinn closed a PubliCola Q&A by suggesting an "Isn't It Weird That" item for us: "Isn't it weird that everyone says no one gets along with McGinn, but we now have an arena deal that I negotiated with King County and the city council? Isn't it weird that supposedly no one gets along with McGinn? Isn't that weird?"
Maybe it's bad luck to boast about a deal before it's finalized.