Wednesday, 22 October 2014
Last updated 2 min ago
Jul 16 2012 | 10:45am ET
Hedge fund manager Chris Hansen attacked a Seattle City Council report attacking his own plans to build an arena in his hometown.
Hansen, who runs Valiant Capital Management in San Francisco, in February announced that he would build a $500 million arena in Seattle's SoDo neighborhood, hoping to attract a National Basketball Association—or National Hockey League—franchise. In addition, the city would contribute some $200 million using tax revenues the building generates.
But the City Council warns that the plan might violate a city law that requires Seattle receive fair value for its investment.
"They jumbled up the numbers," Hansen said of the Council analysis.
"They aren't putting in any equity," he continued. "That's the difference. If [the city and King County] were putting in $100 million in equity in addition to the bonds, it would be a different story, but they're not."
Hansen said he was not frustrated with the discussions, but warned that further delay could lead to missed opportunities.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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