The plan is being proposed by Brown and local public-relations executive Dave Bean. Working together as B2 Inc., the two say they are in the process of seeking financing for the development. They have five potential sites identified, including the Seattle Center, home to KeyArena, where the Sonics currently play; Pier 46, currently a container terminal; and three properties near Safeco and Qwest field, which house the city's MLB and NFL teams, respectively.

Given the years it will take to site, finance and develop a new major league sports arena, B2 Inc.'s does not have the goal of holding onto the NBA's Seattle Sonics, which team owner Clay Bennett is hoping to relocate to his hometown of Oklahoma City as soon as he can get out of the team's lease at Key Arena, which runs into 2010. NBA owners are expected to vote on whether the Sonics can move to Oklahoma City at the NBA Board of Governors meeting later this month.

Expecting that the Sonics will move, Brown and company say the goal is to eventually attract an expansion team and bring back NBA basketball to Seattle within a few years of it going away and also to attract a NHL team. Brown and Bean did not detail the financial side of the plan, but they did express confidence in being able to raise the necessary private equity for the venture.