A second bidder on a potential expansion National Basketball Association (NBA) franchise in Seattle (US) is developing a plan to build a new arena on land near Marysville, a Washington town located 35 miles North of the Emerald City.
NBA Bid
Nick Rathod, Chief Global Strategy and Communications officer for the BlackSun Private Equity, informed that BlackSun and the Tulalip Tribes are “100 percent partnering” to build a new arena and entertainment district if the NBA chooses to move forward with their bid.
Tribal-owned Land
‘The Athletic’ stated that the BlackSun Private Equity, a New York-based firm that in August submitted a bid to bring the NBA back to Seattle, is working with the Tulalip Tribes to build the arena on the tribal-owned land if it secures the franchise.
New York (US)-based the National Basketball Association (NBA) is a professional basketball league in North America composed of 30 teams (29 in the United States and one in Canada). The NBA is one of the major professional sports leagues in the United States and Canada and is considered the premier professional basketball league in the world.
New York (US)-based the BlackSun Private Equity is an emerging global leader in alternative asset management, private equity funds, credit funds, real estate funds, alternative investment, leveraged buyouts, growth capital, and venture capital.
BlackSun’s primary focuses is on the powerhouse industries of Sports, Media, Entertainment, Real Estate, and Technology.
The Tulalip Tribes of Washington, formerly known as the Tulalip Tribes of the Tulalip Reservation, is a federally recognized tribe of Duwamish, Snohomish, Snoqualmie, Skagit, Suiattle, Samish, and Stillaguamish people. They are South and Central Coast Salish peoples of Indigenous peoples of the Pacific Northwest Coast. Their tribes are located in the mid-Puget Sound Region of Washington (US).
Community Feedback
Remarked Rathod, “Our hope is that the fans really are the drivers of this. Obviously, the NBA makes the final decision. But we want the fans to help make the decision here because we feel like our bid coming into this is different and the most compelling. We are coming in with the Tribes who were the original inhabitants of that land. We want to center the local community and get feedback from the local community. I think the NBA could really use, at this moment, a different storyline around ownership. You saw what the NBA team Los Angeles Lakers deal looked like.”
Financial Improprieties
‘The Athletic’ further stated that Rathod was referring to what happened in August when Mark Walter agreed to sell the Los Angeles Lakers only 14 months after agreeing to purchase the team. The Federal prosecutors are also looking into alleged financial improprieties involving Walter’s insurance companies.
Added Rathod, “That was a couple billionaires passing this franchise around like it was a rental property. For the fans and the teams that’s just terrible.”
Seattle Supersonics
The NBA team Seattle SuperSonics left Seattle in 2008. Rathod said BlackSun’s goal is to bring the team back to the Pacific Northwest permanently.
The Seattle SuperSonics (commonly shortened to Sonics) were an American professional basketball team based in Seattle (US). The SuperSonics competed in the National Basketball Association (NBA) as a Member of the Western Division (1967-1970) and later as a Member of the Western Conference’s Pacific (1970-2004) and Northwest (2004-2008) Divisions. After the 2007-2008 season ended the team relocated to Oklahoma City where it now plays as the Oklahoma City Thunder.
Community Angle
Continued Rathod, “We want it to stay in that community forever. We will do everything we can to make sure that happens. One of the challenges initially when the Sonics left Seattle had to do with the stadium there. We feel like the land we have designated now with the Tulalip Tribes is one where the families can come.”
Commuting Challenge
A basketball arena on the Tulalip tribal land near Marysville would represent a considerable commuting challenge for the Seattle area fans. The rush hour commutes from downtown Seattle to this location routinely take over an hour and it would be even longer from the more populated areas South of the city (including the city of Tacoma and the Seattle airport).
Home Games
Rathod said that the BlackSun understands that for the many Seattle residents commuting to the home games at this proposed arena site would be a “hike.”
Entertainment District
Explained Rathod, “We are not going to ask the people to take 41 trips to a venue without a credible mobility plan. That means we are currently studying the highway capacity. The regional transit. The dedicated game transportation. A park-and-ride system. Shuttles. Really trying to examine the entire fan journey that would make it as comfortable and easy and seamless as possible for them to get up there. Once they get up there it’s not just the stadium. There is an entertainment district we will further build out. It will be a destination.”
Enough Investors
BlackSun Head Honcho Atonn Muhammad said that it can add enough investors to make a bid for up to $8.1 billion.
Other Known Bidder
The One Roof Sports and Entertainment, an umbrella company headed by Samantha Holloway that owns a majority stake in the National Hockey League (NHL) team Seattle Kraken, is the only other known bidder for the potential Seattle expansion franchise, industry sources with knowledge of the process said. The One Roof Sports also controls a stake in the 18,300-seat Climate Pledge Arena which is located just North of Seattle’s downtown.
Seattle (US)-based the One Roof Sports and Entertainment bring people together under One Roof to pursue championships, create defining moments and drive meaningful impact in the community.
‘NBA Team Additive’
Holloway said earlier this year that “If done the right way, (an NBA team) is additive. It’s been important that we’ve had enough time to build the Kraken brand and get to where we want to be. There’s always room to grow but it’s a great time to add basketball and they’re complementary if done correctly.”
Continue following Coliseum for the latest updates on sports venues, stadiums and arena business news worldwide.
Coliseum is dedicated to building a global community of sports and entertainment venue professionals helping create better and more profitable venues.
Become a member of the Global Sports Venue Alliance and connect with stadiums, arenas and industry experts from around the world. Apply for membership through the Global Sports Venue Alliance and access the 365Coliseum Business platform.