Breaking : Major setback in Seattle's bid for franchise.

One of the most persistent rumor in the league is Seattle's bid to get an NHL franchise is a relatively short time. The city had professionnal teams in the past and groups of investors are ready to carry the project. However, one big problem stands in the way, namely the renovation and refitting of the arena. 

The Seattle Times received sobering news about the whole arena issue and how the city is dealing with it. 

Leaders of the Seattle Partners group said in a statement Sunday that Seattle’s process has “eroded our confidence in the ultimate execution of this project, no matter which group is selected.”

The group said it felt the city had failed to conduct a “sufficiently thorough, objective and transparent process.”

The decision leaves just Oak View Group as the only other bidder for the KeyArena effort.

The city's role is huge in the project, because without public financing it becomes pretty hard to develop a credible plan. Sure, there were rumors about a group willing to finance the whole thing privately, but it never went anywhere.