- Associated Press - Thursday, October 27, 2016

SEATTLE (AP) - Mayor Ed Murray has announced the city of Seattle will issue a request for proposals in January 2017 for redevelopment of KeyArena.

Murray announced the plan on Thursday. In a statement, Murray acknowledged that two entities, AEG and The Oak View Group, have contacted the city seeking an agreement on a redevelopment plan for the former home of the Seattle SuperSonics. The Seattle Times reported the Oak View Group includes sports executive Tim Leiweke.

The announcement by the city comes two days after investor Chris Hansen presented an offer to privately fund a proposed arena for Seattle’s stadium district. Hansen has asked the city to approve blocking a street and some tax breaks in return for ending a memorandum of understanding between the Hansen and the city.

An agreement regarding KeyArena would need City Council approval and include an extensive review process.

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