Is Seattle a step closer to Chris Hansen arena deal?

Per the Seattle PI we've learned today that the Seattle Supersonics fans are ones step closer to getting a team back one day.

King County Executive Dow Constantine and Seattle Mayor Mike McGinn have called a Wednesday news conference to announce a financing agreement with Chris Hansen who hopes to build a new arena to bring NBA and NHL teams to the city.

The formal document, a "Memorandum of Understanding" if approved by the Seattle City, and King County Council, would give Chris Hansen the green light to begin preliminary work on a proposal for the new sports arena in the SoDo neighborhood on the property he now owns.

The arena would be built near the Mariners' Safeco Field and CenturyLink Field where the Seahawks and Sounders play.
The county and city councils will be asked to review the agreement in coming weeks.

Previously, Hansen has proposed a new arena that would cost between $450 and $500 million and would include $290 million in private investment. Hansen's group would be responsible for the purchase of an NBA franchise and finding a partner interested in bringing an NHL franchise to Seattle.

Where we're at now is simple. One fact remains. No NBA or NHL team has committed to playing in Seattle, though both leagues have teams facing ownership and economic challenges in their current home cities, and could find themselves one day returning to Seattle.