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Owners reach agreement on land for new arena

Updated: April 9, 2007, 8:18 PM ET
Associated Press

SEATTLE -- The Professional Basketball Club cleared a significant obstacle Monday in its efforts to get a new arena built for the Seattle SuperSonics and WNBA's Storm.

The group announced an agreement in principle with Dallas-based Harvest Partners to acquire 21.2 acres of land on the shore of Lake Washington in south suburban Renton for a potential new arena that could cost more than $500 million.

"We both see excellent potential for The Landing and the new events center and ...

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