Would-be Seattle Sonics owner Chris Hansen has signed a “non-binding” agreement with a prospective NHL owner from Vancouver, B.C., regarding the proposed arena in Seattle’s Sodo neighborhood, according to a report from KING/5 TV.

Citing sources with knowledge of talks between Hansen and Vancouver’s Victor Coleman, KING’s Chris Daniels reported on Tuesday that “the two potential ownership groups have signed a ‘non-binding’ agreement which lays out the terms for Coleman’s contribution to the project and his potential revenue streams for a hockey franchise.”

Coleman, a real estate developer now based in Los Angeles, heads one of the groups bidding for a potential NHL team, and has been involved in ongoing discussions for a Seattle franchise. Hansen is the hedge-fund manager who headed an attempt to buy the Sacramento Kings and move them to Seattle in 2013.

Coleman and co-investor Jonathan Glaser met with Seattle Mayor Ed Murray, King County Executive Dow Constantine, NHL Commissioner Gary Bettman and Deputy Commissioner Bill Daly in May to discuss the prospect of bringing a team to the Emerald City, but “left without an agreement or plan to move forward,” according to Daniels.

Yet Coleman reportedly believes his discussions with Hansen constitute significant progress. Two other potential ownership groups have not begun discussions with Hansen, according to KING/5.

Hansen in 2012 reached a memorandum of understanding, or MOU, with the city of Seattle and King County to finance the construction of a new arena south of the Safeco Field parking garage. But under the agreement, construction is contingent on Hansen first securing an NBA franchise.

Now that Coleman has reportedly entered into negotiations with Hansen, their next move would likely be investigating whether city and county officials would be open to altering the MOU to move the project forward if Coleman is able to acquire an NHL franchise before a successful bid for an NBA team.

Coleman believes that Seattle would make an ideal fit for professional hockey, particularly given its proximity to his hometown.

“I think the demographic base (in Seattle) and the desire of the NHL in that marketplace is the perfect match right now. The expansion of the NHL into the Pacific Northwest, with Vancouver and the presiding area, makes it a perfect fit,” Coleman told KING/5. “There are built-in synergies. That’s a ‘Day 1’ rivalry.”

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