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City of Seattle Expected to Announce Agreement on New Arena Deal

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Yep.

I don't have anything to add to the great reporting already being done. So I guess go read about the details here and then come back here and comment a bunch while refreshing a lot.

UPDATE from Chris Hansen:

and on that note, I would personally like to buy you all a beer at FX McRory's this Thursday from 5-7. First beer for everyone is on me.