Step back from the bridge dude. Sarver from the onset has said that this is not a long term hold for him. He's not going to suddenly jump to another market. Furthermore, US Airways Center was recently renovated and looks pretty damn good. Age of an arena doesn't mean anything. It's all about capacity and luxury suites - USAC has plenty of both.
What will happen is that Sarver will strip the team of salary, get the operating costs down and sell the franchise (similar to the circumstances surrounding his acquisition).
He bought the team to make money and promote his real estate ventures downtown (see: W Hotel and Jackson Street Entertainment District). He felt that downtown was underdeveloped and that he could come in, take over, develop and cash out. The economic climate has shifted dramatically and so has his business plan. Personally, I don't think he has the financial patience to ride this thing out. This team will be for sale in the summer of 2010.