New stadium revenue: from one pocket to another? | Editorial

Published 4:49 pm Thursday, March 15, 2012

News flash: apparently people in and around Seattle have millions of dollars stuffed in socks or under their mattresses. That’s the only conclusion we can draw from statements about Seattle’s hoped-for NBA/NHL stadium being talked up for that city’s Sodo District.

The proposed stadium deal would have Seattle and King County jointly put up $200 million for construction costs with team owners obligated to repay that money through ticket and concession sales, among other things. The annual debt payment is estimated to be $15 million to $16 million.

If revenue from those sales fall short, team owners would have to make up the difference.

Here, then is the problem: Is there a spare $15 million or $16 million a year not already being spent on some other discretionary activity that can go to basketball or hockey? If so, great. If not, that means for every dollar spent at the NBA/NHL stadium, a dollar isn’t being spent elsewhere. And those dollars likely will be taken from local restaurants and leisure activities in Seattle and here.

There’s also the possibility that dollars spent on an NBA or NHL game will just be money shifted from the Mariners, Seahawks, Sounders, or Huskies.

We would like to see professional basketball and hockey in this area. The sports are entertaining and can boost the region’s profile.

But this is only worthwhile if adding something new doesn’t beggar what’s here already. We already have millions invested in sports teams and entertainment options. They deserve our consideration, too.

– Craig Groshart, Bellevue Reporter