SEATTLE (AP)—The SuperSonics will move to Oklahoma City for the 2008-09 season as part of a settlement with the city of Seattle, ending a contentious relationship that resulted in a trial in which the judge was due to issue her ruling Wednesday.
The settlement calls for Sonics owner Clay Bennett and the Professional Basketball Club LLC to pay up to $75 million to the city in exchange for the immediate termination of the KeyArena lease between the NBA team and the city.
The team's name and colors will be staying in Seattle.
"We made it," Bennett said after stepping to an Oklahoma City podium featuring the NBA logo and the letters OKC. "The NBA will be in Oklahoma City next season."
Bennett said the move would start Thursday and the first focus would be on the SuperSonics' players.
Bennett announced that the settlement calls for a payment of $45 million immediately, and would include another $30 million paid to Seattle in 2013 if the state Legislature in Washington authorizes at least $75 million in public funding to renovate KeyArena by the end of 2009 and Seattle doesn't obtain an NBA franchise of its own within the next five years.
"We understand that city, county, and state officials are currently discussing a plan to substantially rebuild KeyArena for the sum of $300 million," NBA commissioner David Stern said in a statement. "If this funding were authorized, we believe KeyArena could properly be renovated into a facility that meets NBA standards relating to revenue generation, fan amenities, team facilities, and the like."
Bennett said he and Seattle Mayor Greg Nickels signed a binding agreement Wednesday, which would be formalized later, that keeps the SuperSonics' name, logo and colors available if Seattle gets a replacement franchise.
"We have 30 million reasons why we have support for a future NBA team," Seattle city attorney Tom Carr said.
In April, the NBA Board of Governors approved Bennett's application to move the team to Oklahoma City, pending the outcome of the trial between the team and the city. The settlement came six days after the trial concluded.
It doesn't cover a pending lawsuit filed by Starbucks Corp. chairman Howard Schultz, who is seeking to regain control of the team he sold to Bennett in 2006 for $350 million. Schultz claims that Bennett didn't follow through on an agreement to negotiate in good faith for a new arena in Seattle for one full year before seeking relocation options.
The trial was centered on the lease agreement between the city and the team that called for the Sonics to play at KeyArena through the 2009-10 season.
Sonics lead attorney Brad Keller contended that Bennett should simply be able to write a check to satisfy the final two years of the lease. Keller argued that the "specific performance" clause the city rested its case on should not apply in a garden-variety dispute between tenant and landlord.
Bennett and his ownership group previously offered to pay the city $26.5 million in February to buy out the final two years of the lease. They were rebuffed.
AP Sports Writer Jeff Latzke in Oklahoma City contributed to this report.
I really hope they name the team Oklahoma ______ instead of Oklahoma City _______. Lets face it Oklahoma City is not a large market compared to a lot of NBA cities. By including the whole state, you make the more appealing to those outside of OKC.
quote:
Originally posted by Nik
I really hope they name the team Oklahoma ______ instead of Oklahoma City _______. Lets face it Oklahoma City is not a large market compared to a lot of NBA cities. By including the whole state, you make the more appealing to those outside of OKC.
Won't happen; Mayor Cornett has already said as much.
I also won't be going to any Sonics games based on his heavy-handed comments either. He can get stuffed as far as I'm concerned.
http://newsok.com/article/3236491
Clay Bennett is a SHADY man.
Didn't Cornett run for governor or something?
If I remember right Clay Bennett is from Tulsa and doesn't harbor the same attitude Cornett seems to have towards us. I would think Bennett would be open to an "Oklahoma" name but Cornett is getting him too much OKC taxpayer money to make Cornett mad.
quote:
Originally posted by Nik
I really hope they name the team Oklahoma ______ instead of Oklahoma City _______. Lets face it Oklahoma City is not a large market compared to a lot of NBA cities. By including the whole state, you make the more appealing to those outside of OKC.
From the picture in the TW, it does appear that they are already using OKC in the backdrop. So, I would take it that they are going to use the OKC name and not just Oklahoma.
http://www.tulsaworld.com/articleimages/2008/Thumbs/20080703_a1sonics0703_article.jpg
They have been saying it would be OKC for many months now.
Can we expect any games at the BOk Center? I would think we would AT LEAST get a preseason game but it would be nice to have 1-2 regular season games as well, even if it is OKC's team it's still Oklahoma's only pro team.
Bennett said in the press conference last night that he would like to see some exhibition games in Tulsa. So... perhaps.
quote:
Originally posted by cannon_fodder
Bennett said in the press conference last night that he would like to see some exhibition games in Tulsa. So... perhaps.
Maybe they'll come on the heartland flyer Tulsa extention...
quote:
Originally posted by Townsend
quote:
Originally posted by cannon_fodder
Bennett said in the press conference last night that he would like to see some exhibition games in Tulsa. So... perhaps.
Maybe they'll come on the heartland flyer Tulsa extention...
They'll also enjoy a show at the Sand Springs natuaral amphitheater and skiing on the artificial ski slope before taking an elevator ride in the american project.
I hope they enjoy the downtown Wal*Mart, stay in the new downtown Hilton and have lunch with BigFoot at our scenic river development.
quote:
Originally posted by sgrizzle
quote:
Originally posted by Townsend
quote:
Originally posted by cannon_fodder
Bennett said in the press conference last night that he would like to see some exhibition games in Tulsa. So... perhaps.
Maybe they'll come on the heartland flyer Tulsa extention...
They'll also enjoy a show at the Sand Springs natuaral amphitheater and skiing on the artificial ski slope before taking an elevator ride in the american project.
sounds like a full schedule but I sure hope they get time to visit the wonderful botanical gardens.
I'll be heading to a few games thats for sure :cool:
quote:
Originally posted by bluelake
quote:
Originally posted by sgrizzle
quote:
Originally posted by Townsend
quote:
Originally posted by cannon_fodder
Bennett said in the press conference last night that he would like to see some exhibition games in Tulsa. So... perhaps.
Maybe they'll come on the heartland flyer Tulsa extention...
They'll also enjoy a show at the Sand Springs natuaral amphitheater and skiing on the artificial ski slope before taking an elevator ride in the american project.
sounds like a full schedule but I sure hope they get time to visit the wonderful botanical gardens.
Actually that one is real and under construction.