Arena Deal Reached In Seattle

The "Memorandum of Understanding" between the Seattle City Council and investor Chris Hansen paves the way for a new arena and a possible return of an NBA team to Seattle.

Seattle City Council members Tuesday morning outlined an amended arena agreement with investor Chris Hansen that they said offers greater protection for taxpayers and begins to fix Sodo traffic problems that the Port of Seattle says could threaten its operations.

The deal also provides $7 million to help KeyArena stay viable.

The deal has not been finalized, but approval is likely. Some council members acknowledged that  arena opponents such as the Port of Seattle, the Mariners and the Manufacturing Industrial Council still have concerns.

You can read the complete details here.

Hansen thanked his supporters in a statement on his website.

"Your voices were heard and your hearts spoke volumes. I really hope you all just appreciate how much it meant and what a difference each and every one of you made."And on that note, I would personally like to buy you all a beer at F.X. McRory's this Thursday from 5-7. First beer for everyone is on me."

Seattle Supersonics fans all over the northwest, including Yakima, are now hoping to see an NBA team return to Seattle.