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Microsoft CEO Steve Ballmer will be part of the investment group led by Chris Hansen that has proposed a new NBA/NHL arena in the city of Seattle. (AP Photo/file)

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listen Listen: King County Executive "thrilled" Microsoft, Nordstroms investing in arena
King County Executive Dow Constantine joins 97.3 KIRO FM's Ross and Burbank Show to discuss a letter he received announcing Microsoft CEO Steve Ballmer and members of the Nordstrom family were investing in a proposal for a new arena in Seattle.
Microsoft CEO Steve Ballmer and members of the Nordstrom family will be part of the investment group led by Chris Hansen that has proposed a new NBA/NHL arena in the city of Seattle.

Ballmer's inclusion in the investment group was revealed on Wednesday morning in a letter sent from Hansen to King County Executive Dow Constantine and Seattle Mayor Mike McGinn. A copy of the letter was obtained by The Associated Press.

In an appearance on 97.3 KIRO FM's Ross and Burbank Show Wednesday, Constantine said he is "thrilled" with the development.

"I am thrilled that Steve Ballmer and the Nordstroms have stepped up to participate with Chris Hansen," said Constantine. "Even if Chris Hansen is still a bit of an enigma for the citizens of this region, they all know Steve Ballmer and the Nordstrom family very well, and I think it speaks volumes about Chris Hansen's proposal."

Seattle Mayor Mike McGinn recognized Ballmer and the Nordstroms as well-known civic leaders in our region.

"Their financial and public support for a new multi-purpose arena in our Stadium District adds to Chris Hansen's serious commitment to invest hundreds of millions of dollars in our city," said McGinn.

That Ballmer is part of the investment group is not a surprise. Ballmer is a longtime basketball fan and was part of a group that made a last-ditch effort to try to keep the SuperSonics in Seattle prior to their move to Oklahoma City in the summer of 2008.

Also part of the investment group are members of the Nordstrom family: Erik and Peter.

"I am very excited to be a part of Chris' group. The Sonics were a great part of this community for over 40 years," said Erik Nordstrom. "I think getting an NBA team back in Seattle is a terrific opportunity to add another asset to our city and contribute to why this is such a wonderful place to live."

Hedge-fund manager Chris Hansen introduced the proposal for a new $490 million basketball arena in the SoDo area earlier this year.

"These three gentlemen, like me, are committed to operating the arena and NBA franchise in a way that represents and upholds the values of our community," said Hansen in his letter. "Their participation in the ownership group brings added assurances the business will always be backed by strong local hands and reinforces my commitment that the team will never again leave Seattle."

Hansen's push includes a large public rally in downtown Seattle on Thursday afternoon featuring former Sonics stars Gary Payton and Shawn Kemp.

The Associated Press contributed to this report.

Follow KIRO Radio Staff, Staff report

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Comments (71)


  • Add A Comment

  • Old Timer wrote...
    Seattle arena investment group
    June 13, 2012 8:14 am
    They can build whatever they want, but I don't want to pay for it.I'll never go to a game or care about the team. So go for it!
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Zagnut wrote...
    Don't use the arena and you WON'T pay for it.
    June 13, 2012 8:20 am
    Educate yourself before commenting.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • messiah101 wrote...
    Zagnut
    June 13, 2012 10:31 am
    You will NEVER get it will ya? Yes people that do not use the new arena WILL pay for it.$500,000,000 + of tax revenue that would have gone into the general fund will be going into this project. That $500,000,000+ will need to be made up elsewhere.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Lessmith50 wrote...
    messiah101
    June 13, 2012 12:02 pm
    you seem to be the number one econmist here that trolls around on a daily basis. Just where in the Heck did you pull out 500 million? Let me guess right straight out your A55. Some people out there just dont get it and you surely are one of them. Go back to sleep.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • messiah101 wrote...
    Lessmith
    June 13, 2012 1:46 pm
    $200,000,000 + 30 yrs interest+ lost tax revenue on the property that Hansen is selling to the city.Seems like your the one asleep at the switch.Or do people lend you $200,000,000 interest free in your world
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • messiah101 wrote...
    Lessmith50
    June 13, 2012 2:03 pm
    Stadium Bonds carry more risk then Bonds that cities issue for essential services (water,sewer). Because payment is tied to tax revenue from attendance they are more risky so higher interest rates must be paid to attract investors interest rates on Seattle Bonds might be around 6%,and I believe the first 5 years the payments are lower then market so at the end of 5 yrs more then $200,000,000 (the original Bond amount)is owed. Plus Commissions are paid to the investment house that sells the Bonds
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Zagnut wrote...
    OK, you got me. Homeowners will see their ANNUAL tax increase by $2 to $4.
    June 13, 2012 7:40 pm
    You are on brilliant analyst.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • messiah101 wrote...
    Zagnut
    June 13, 2012 8:59 pm
    That $2-$4 is only to cover the taxes lost due to pulling property off the tax rolls I believe. It does not cover the loss of $500,000,000 in tax fund money.THe taxpayer is once again being slow cooked like a frog turning up the temperature just a few degrees at a time and suddenly the frog is cooked
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Zagnut wrote...
    The only taxes that are being "lost" are taxes that WOULD NOT EXIST if the arena is not built.
    June 14, 2012 5:26 am
    Get it? Of course not. It's too complicated for you.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • BikeNazi wrote...
    I'd rather have a monorail
    June 13, 2012 11:08 am
    I remember how well that worked out. That was a pretty good win by the OKC Thunder last night, wasn't it? Too bad you didn't care about the team when there was one here in Seattle.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • messiah101 wrote...
    Steve Ballmer
    June 13, 2012 8:14 am
    You mean the guy that only a month ago in Forbes Magazine was referred to as one of the WORST CEOs in the USA and should be fired immediately? That guy? Listen people just because someone has a bank full of cash doesn't mean he's smart.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Zagnut wrote...
    I know this comes as bad news for you Messiah.
    June 13, 2012 8:23 am
    The councils are about to cry "uncle".
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • messiah101 wrote...
    Zagnut
    June 13, 2012 10:20 am
    I agree you are 100% correct on this.Money talks anywhere and Seattle is no different.Suckers get fleeced ,people learn nothing from past fleecings
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • itiswhatitis wrote...
    Hansen is still the lead in this venture
    June 13, 2012 8:17 am
    We can take Ballmer's money. Come on Seattle, this needs to happen because this will bring alot of jobs, pride and money back into the city!
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • messiah101 wrote...
    itiswhatitis
    June 13, 2012 10:27 am
    No Hansens just the salesman not the lead.As of yet I have seen no verification of Hansens wealth,have you?Was he the money guy on the land purchase or did these other investors fund that $40 million purchase that will be sold to the city for $100,000,000,oh and how can any resident have ANY pride in a new arena when they already own one that seats 1500 less then this new one will and now they will get stuck with knocking it down because it has NO use now
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Frogsplash wrote...
    Forbes has Hansen' net worth
    June 13, 2012 1:17 pm
    It's easy to find if you just look.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • messiah101 wrote...
    Froggie
    June 13, 2012 2:04 pm
    OK what is it?
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • messiah101 wrote...
    Froggie
    June 13, 2012 2:06 pm
    OK what is it?
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Frogsplash wrote...
    Are you really too lazy
    June 13, 2012 7:12 pm
    To look it up yourself? I actually find it refreshing that he doesn't flaunt his wealth. From Forbes..... "Valiant’s new registration papers filed with the SEC suggest that the Facebook investment has been enormously important to Hansen’s hedge fund firm, which reported $3.26 billion of assets under management as of February 2012. At the top range of Facebook’s IPO price range, the Facebook investment would represent about 39% of Valiant’s assets under management. Valiant’s most recent SEC filings said its hedge fund held $831 million of publicly-traded stocks with Apple and Google being its largest holdings by far at $119 million and $83 million, respectively. Hansen and Valiant declined to comment."
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • messiah101 wrote...
    Froggie
    June 13, 2012 9:13 pm
    I'll ask you again how much is he worth?I don't care how much he supposely has invested as thats ALL other peoples money it has little to do with his personal wealth.In fact I believe the future of Hedge Funds may be bleak as government regulation are put into effect.HE makes NO money unless the stocks earn a profit. Thats a Risky business to sign a $200,000,000 bond for.Why didn't you answer my question with a simple NO I have no idea of Hansens wealth instead of attempting a snow job?
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • EmeraldCityHawkeye wrote...
    What is this Nordstroms you speak of?
    June 13, 2012 8:20 am
    It's Nordstrom. Not Nordstroms. Just like it's Bartell, not Bartells. Or Fred Meyer and not Fred Meyers.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Zagnut wrote...
    When there are two of them you add an 's'.
    June 13, 2012 8:26 am
    .
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • EmeraldCityHawkeye wrote...
    I'm going to tell...
    June 13, 2012 8:53 am
    myself that response was sarcastic.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • artimus wrote...
    Ballmer and Nordstrom involvement
    June 13, 2012 8:38 am
    That certainly doesn't hurt the new facility's chances.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • MainEvent wrote...
    Seriously!
    June 13, 2012 9:03 am
    You people need to understand the details behind this before you post. There is no tax payer money being used. Its the same people that post this ignorance that allowed the Sonics to move in the first place and now the OKC thunder are probably going to win a championship. All the money from the finals being held here that seattle will miss out on could of helped a lot for the economy.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • messiah101 wrote...
    MainEvent
    June 13, 2012 10:38 am
    I bet you still believe in the TOOTHFAIRY.DO you honestly believe that the money that you are saying would have been spent if games were being played in Seattle did not get spent elsewhere?DO you believe that the money not spent on Basketball tickets is just sitting in someones bank account?Buddy you need to get up to speed as to how things really work and stop believing the baloney you have been fed
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Zagnut wrote...
    "Buddy you need to get up to speed as to how things really work"
    June 13, 2012 7:48 pm
    Now that is funny. A blind fool standing on a pedestal screaming that someone is blind and foolish. HA HA HA HA HA.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • MFCEO wrote...
    Dear Dummy Opposition,
    June 13, 2012 9:10 am
    Try researching before you comment. And if you don't care why are you even commenting on the subject. Hansen is the lead on the deal. Ballmer is money. Would you rather Ballmer backed out so they really have to ask for taxpayer money? You people are hopeless. Even council and media opposition have moved on from the tax issue, because it is not a problem. The only problem truly being considered now is traffic infrastructure for the Port, which will be resolved, and in the meantime they are doing research to find a resolution. Besides, why don't the unions pony up some cash, or give up some ideas on improvement, instead of just complaining like a bunch of over privileged babies? Even Hansen has said 2015 is probably the realistic time for things to really truly come together. That is a lot of time for any issue to be addressed. So in instead of complaining, try being a helpful to the community for once and be part of the solution.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • messiah101 wrote...
    MFCEO
    June 13, 2012 10:44 am
    If the Port and the Unions had a traffic study to prove their point would you be willing to fore go the arena in exchange for the jobs they claim will lost because of the arena?Yes the Unions and the Port should "pony up some cash" to educate the public about what their grievances are. Hansens side is getting tens of Thousands of $$$ in FREE publicity from the local media to tell everyone just how wonderful this thing will be and it has worked.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Zagnut wrote...
    The deal IS wonderful. It is incredible. Still the Seattle Times (Seattle's ONLY daily newspaper) doesn't embrace it.
    June 13, 2012 7:50 pm
    Yet Messiah has the audacity (or is it stupidity) to post that comment.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Gantiz wrote...
    Seriously....
    June 13, 2012 9:19 am
    Even us people who don't like paying taxes know that this is a great deal, unlike Safeco Field. It is in-line with Seahawk Stadium where Paul Allen put in over $100 million of his own money and it came in on time and under budget. Seriously, this group led by Hansen is outstanding. HE EVEN OWNS THE LAND THAT THE ARENA IS TO BE BUILT ON!!! We couldn't ask for a better leader to get our Sonics back!
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • messiah101 wrote...
    Ganitz
    June 13, 2012 10:51 am
    "He even owns the land that the arena is to be built on" Excuse me Sonny the land is part of the scam. The MOU states that the land which HAnsen bought for $40 million will be sold to the city on day 1 for an up front $100,000,000.A property that now pays $760,000 a year taxes will then be taken off the tax rolls.I bet if a Bully punched you in the face you would say he was a nice guy because he didn't also punch you in the stomach
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Zagnut wrote...
    I guess you don't understand how the property is going to be upgraded.
    June 13, 2012 7:52 pm
    No surprise.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • JadeFrog wrote...
    Well Then...
    June 13, 2012 9:37 am
    We all know everything Ballmer touches turns into solid gold, so let's do this.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • artimus wrote...
    Zagnut
    June 13, 2012 10:13 am
    Don't waste your breath - trying to hep the likes of MrCarleone to the broad strokes of the proposed deal is like trying to teach a pig to ride a bike. 'Simians'?
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • { "Thumbs Up":"1","Thumbs Down":"-1" }

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King County Executive "thrilled" Microsoft, Nordstroms investing in arena

Wednesday, Jun 13, 2012

King County Executive Dow Constantine joins 97.3 KIRO FM's Ross and Burbank Show to discuss a letter he received announcing Microsoft CEO Steve Ballmer and members of the Nordstrom family were investing in a proposal for a new arena in Seattle.
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