— Russell Wilson (@DangeRussWilson) November 14, 2016
Bringing local celebrities into ownership groups is not exactly new, of course. Will Smith owns a bit of the 76ers, Jay Z owned a tiny bit of the Barclay’s Center and Nets, Fergie and JLo (and many others) own a bit of the Dolphins, etc.
But, as far as generating local excitement for Hansen’s plans vs an almost-RFP’ed “something” to the KeyArena, this bit of news may be exciting enough to be worth giving Russell Wilson a chunk of the arena/team, if it happens. (As these are usually private transactions, we have no idea if Russell becomes a partner as payment for endorsement services or if he signs a check from his personal bank account and the percentages involved have not been disclosed).
Now if only Hansen could find a NHL team not too cheap to participate in his privately financed arena. Oh bother.
The Coyotes and Arizona State University announced that the Coyotes have entered into an exclusive negotiation agreement with Catellus Development Corp., ASU’s athletic facilities district developer, to work towards the finalization of a new arena and commercial development project within the 330-acre district along Tempe Town Lake.
Correction: An “unnamed, but familiar” source says it’s not just for PR, but won’t tell us any terms of the arrangement. Not just a PR figurehead could still be “we’ll give you 0.1% of the arena if you schmooze the right councilmembers and talk up the deal on sports radio”.
A person familiar with the agreement told KIRO Radio’s Michael Lewis that Wilson independently approached the Seattle Arena partnership, making it a five-member team. Wilson is a financial investor – not just a PR figurehead – in the partnership, though the source would not disclose the terms