[cam_wmh]

Originally Posted by GullFoss

Seattle:

2006 - CEO of Starbucks owns Seattle Sonics and says he wants to keep team in Seattle, but public money is needed. City of Seattle balks at cost ($200m). Owner sells team to outside group because City of Seattle won't contribute $200m for new arena

2007 - Steve Balmer of Microsoft offers to buy team and partially pay 50% of arena costs if City of Seattle will pay remainder. Seattle says says no to the $150m cost.

2008 - Seattle SuperSonics relocate to Oklahoma due to lack of public funding

2016 - After 8 years with no professional sports team, Seattle spends $1.1 billion of public money for arena (100% of cost) to entice an NHL and NBA franchise to the city.

Outcome:
Seattle pays full cost instead of having a public-private partnership because of "principles"
Seattle pays $1,100,000,000 instead of $150m because of "principles"
Seattle lost NBA team because of "principles"

Ideals vs Reality 101