Not this plan from the Sonics

The Seattle SuperSonics ought to swap their funding proposal to renovate KeyArena for a realistic plan that has more investment from team owners.

While opposed to the current financing plan, we underscore it's important that Seattle's first professional sports team stay in the region and continue under local ownership, preferably at Seattle Center.

A bill in Olympia would make permanent the hotel/restaurant/car-rental taxes and states sales-tax credit. This assortment of revenues, which were used for the construction of Safeco and Qwest fields, should not be extended to remodel KeyArena for $200 million or build a new venue for the Sonics without direct contributions from Sonics ownership.

It should be easy for legislators to reject this bill. Not only does it create a new tax — the extension of a tax set to expire is the same as a new tax — it changes the relationship between the Sonics, the Seattle Center and Seattle. All funds from the tax will be collected and distributed by King County. KeyArena belongs to Seattle and its future should be determined by the city and its long-time tenant.

Sonics owners should demonstrate their desire to stay in the region by funding part of the remodel or construction.

It is understandable the Sonics would point to the public funding used to build Qwest and Safeco fields and not want to be left on the bench. Yet, the Sonics must recognize that the Mariners put in $45 million for Safeco Field and Paul Allen contributed $100 million for Qwest Field.

The Seahawks and the Mariners paid about $100 million each in cost overruns.

Even those contributions could not fend off a bruising campaign that has left taxpayers with stadium fatigue. NASCAR recently retracted a bid to get state funding to build a track in Kitsap County because of a cool reception in Olympia.

The Sonics claim that without a remodel that will allow for wider concourses and more revenue-generating amenities, they will continue to lose money, which they say has happened since the team was purchased in 2001. The city is now stuck paying off the bonds because of the revenue-sharing deal that remodeled the arena in 1995 for $75 million.

Clearly, something has to be done to make KeyArena work for the city and the Sonics. For that to happen, the Sonics have to pay a full share.

If not, legislators should ask the Sonics and Seattle to draw up a new game plan.