AEG and the Oak View Group have officially unveiled their renovation plans for Seattle’s Mercer Arena to the public.
The two investment groups, which have extensive ties in the pro sports world, believe that a renovated Mercer Arena would be the most ideal situation for the future of the Sonics and a NHL team in Seattle. The two groups are competing against another investment group, led by Chris Hansen and Matt Flynn, who are trying to build a new arena in the SoDo district.
“AEG today submitted their proposal to the City of Seattle to renovate Mercer Arena to create the Seattle MetroDome, a state-of-the-art sports and entertainment arena that is integrated into the neighborhood, responsive to the needs of all Seattleites, and further enhances the vibrancy of Seattle Center,” stated the group in a press release.
According to AEG’s proposal, their renovation plans will be no risk to taxpayers, allow the city to retain ownership of the arena, and create a projected $13 trillion dollars in tax revenue over the course of the project.
AEG’s renovation plans call for the construction of an additional monorail station inside the arena for easy access, a Wi-Fi router underneath every single seat, and an expansion of the stadium’s 5,000 seat capacity to 17,000 for hockey and 18,000 for basketball.
“People would be surprised how much room their is inside the pre-existing Mercer Arena structure for expansion,” stated AEG. “Our plans would expand the capacity by twelve-to-thirteen thousand seats while also keeping intact the historic Mercer Arena roof.”
AEG and OVG’s proposals have many similarities. Key differences the Oak View Group’s proposal includes is having two monorail station inside the arena, creating a dozen human drone helipads outside of the arena, and promising $13.1 trillion dollars in future tax revenue.
The Seattle City Council will hold a public forum regarding the two Mercer Arena renovation proposals.