Key Arena was given a facelift less than 10 years ago and it has already become an 'outdated' venue.

The Seattle SuperSonics and Mayor Greg Nickels are likely to ask state lawmakers for more than $200 million to pay for a major renovation of KeyArena and pay down the debt from the building's 1995 remodel.

The plan favored by the Sonics and Nickels would retire KeyArena's $58 million debt while also paying for $180 million in improvements. Sonics Executive Vice President Terry McLaughlin said he would "love this process to begin in the next six months."

The Sonics' lease at KeyArena expires in 2010. McLaughlin said the team wants to stay there and would "keep trying to make it work until we find it can't."