Seattle arena moving in positive direction

Seattle sports reporter Bill Swartz joined The Bald Faced Truth guest host Bernard Bokenyi Thursday to break down the latest in Seattle's push for a new indoor arena.

The current plan calls for the arena to be placed next to Safeco Field, where the Mariners host their home games.

"So you would have ... a stadium district with the Seahawks, the Mariners and then presumably NBA basketball and an NHL team," said Swartz, adding there would also be the space available for concerts and community events.

Current funding plans for the approximately $500 million facility have $200 million coming from bonds from King County and the City of Seattle. The other $300 million would come through private funding. Swartz said names such as Steve Ballmer, CEO of Microsoft and two Nordstrom brothers have been associated with arena funding.

There are a few obstacles facing the project, however, specifically the location of the building and what that would entail.

"The financing blueprint looks like it would make money," Swartz said. "[The problem is] the site. The traffic and the site."

While the arena would be built to host potentially an NBA and NHL team, other potential suitors include the Seattle Storm of the WNBA and Seattle University. Listen to the interview: