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Seattle Mayor Mike McGinn says new sports arena not just a rumor

Seattle Mayor Mike McGinn says the idea of a new sports arena for the city isn't just a rumor. (AP Photo/file)

Seattle Mayor Mike McGinn says the idea of a new sports arena for the city isn't just a rumor.

"If somebody is going to come forward and spend hundreds of millions of dollars and invest it in our city, we have to take that seriously," McGinn tells KING 5.

The mayor says negotiations are underway with investor Chris Hansen, who is a hedge fund manager in San Francisco. Hansen has ties to Seattle, but McGinn says he won't get any public funding.

"I believe we have to be very careful and prudent with our city dollars," says McGinn.

The proposed arena could house both an NBA and a NHL team.

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