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AEG pulls out of Key Arena
AEG pulls out of Key Arena
SEATTLE -- One of two groups bidding to renovate KeyArena dropped out Sunday, saying the process "eroded our confidence in the ultimate execution of this project."
In a letter, Seattle Partners announced their wish to withdraw pointing to the city's lack of engagement and collaboration. They also raised questions regarding a competing proposal and the city's decision to withhold certain financial details from the public.
Bob Newman and Alex Vouvalides, from Seattle Partners, said that they believe the city "failed to conduct a sufficiently thorough, objective and transparent process" when evaluating the two proposals for the renovation.
The Seattle Partners, backed by AEG and Hudson Pacific Properties, and Oak View Group submitted two proposals in April.
Read the full letter below:
Mayor Ed Murray released the following statement regarding the announcement by Seattle Partners: