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Seattle Arena: Agreement Reached Between City, Private Investors

The city of Seattle reached an agreement Wednesday with King County and investor Chris Hansen on a new arena that could bring an NBA team back to the city. The latest agreement does away with the provision that an NHL franchise is needed before construction can begin on the proposed 18,500-seat facility.

Fans in Seattle had been keeping a watchful eye on the NHL-owned Phoenix Coyotes. The team is considered a primed candidate for relocation, perhaps to Seattle, if new owners can't be found by the end of the season. Those hoping solely for a SuperSonics revival will breathe a sigh of relief at the new agreement, which takes down a significant barrier standing in the way of construction.

City Council and King County Council still have to approve the new agreement. Seattle would save up to $80 million in investment if allowed to break ground with just an NBA franchise in tow.

For more on the potential return of hockey to Seattle, check in with SB Nation Seattle. For more on hockey that's currently being played in Phoenix, check in with Coyotes blog Five For Howling.