Valiant's Hansen, Seattle Team Up For Basketball In City

Feb 10 2012 | 2:41am ET

Hedge fund founder Christopher Hansen is working with his hometown to bring professional basketball back to Seattle.

The Valiant Capital Management chief, who has been working since at least year on plans to build a new sports arena in Seattle, has been working with city officials for the past eight months on his plan. The extent of the city's cooperation with Hansen, who lives in San Francisco, became clear after the Seattle Times won the release of documents from the city last week.

Hansen is promising to build the arena with little or no help from the taxpayers. The issue of public funding is a touchy one in Seattle; the city lost its last National Basketball Association team, the SuperSonics, in 2008 after the city and state refused to help pay for either a new arena or for the refurbishment of the Sonics' home, KeyArena.

"I really appreciate it and look forward to making this happen in Seattle," Hansen wrote in an e-mail in June to two city officials. "I genuinely mean that and am confident that with a little effort and creativity we can find a solution that meets our needs and the city's/state's desire to get a team back to Seattle without a large public outlay."

"It's a pretty substantial commitment that would have to be made by the investors," Seattle Mayor Mike McGinn told the Associated Press. But Hansen has already made something of a commitment, having in December bought at least one large property near Safeco Field, the home of baseball's Seattle Mariners, and having reached out to nearby property owners.

It isn't clear where the team would come from, with the former Sonics now safely ensconced in Oklahoma City as the Thunder. But the documents show that Seattle is following the situation in Sacramento, Calif., which is facing a March 1 deadline to produce a plan for a new arena for the city's Kings.

Hansen's planned arena could also house a National Hockey League team; NHL Commissioner Gary Bettman has said that Seattle would be an attractive new city for the league.


In Depth

Part II: Roubini Talks Risk, Recovery And The Threat Of A Triple Dip Recession

Oct 21 2014 | 12:41pm ET

In the second half of our interview with Nouriel Roubini, FINalternatives editor...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Deeply flawed risk benchmark

Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.