The Seattle mayor's office has scheduled a 3:30 p.m. news conference. Says the press release: "Mayor Greg Nickels will hold a press conference this afternoon to discuss a new proposal to improve KeyArena and Seattle Center. The mayor will be joined by a representative of a new, local professional basketball ownership group." Earlier coverage has Microsoft CEO Steve Ballmer and Western Wireless founder John Stanton involved. Crosscut's David Brewster speculates about a KeyArena remake in an earlier blog post. Update, 2008-03-06, 13:13: State House Speaker Frank Chopp says any notion of legislative action on a KeyArena renovation proposal is DOA in Olympia this year.