Settlement Reached: NBA to OKC in 2008
Wednesday July 2, 2008
An important chapter in the dramatic Oklahoma City NBA story has been written. For six days, U.S. District Judge Marsha J. Pechman listened to the arguments in a Seattle courtroom, the owners of the SuperSonics wanting out of their KeyArena lease in order to expedite relocation to our fair city while Emerald City officials sought to enforce "specific performance." And just hours before the decision, a settlement was reached.Simply put, the NBA is headed to Oklahoma City this fall. The terms of the settlement dictate the owners will leave the Sonics logo and trademark in Seattle as well as pay $45 million to buy out the remaining two years on the KeyArena lease. If the city of Seattle is able to fund a new arena or KeyArena renovation and does not receive a replacement NBA team in the next five years, either by expansion or relocation, the owners will pay an additional $30 million.
The relocation will begin immediately according to Clay Bennett, regardless of the remaining lawsuit by Howard Schultz claiming the owners didn't make a "good faith" effort to keep the team in Seattle. At his press conference, Bennett called Schultz's lawsuit "baseless." Schultz could (and likely will) file an injunction to stall the move, but the optimist in me, long hidden just a a few weeks ago, is beginning to come out.
Still without a name, the organization is already allowing fans to put their names on a ticket request list. You can do so online or by calling (888) 618-HOOP.
Comments
Woohoo! I’d rather have the Hornets but this will do. I put my name on the list.
Enojoy your stolen goods you lousy jerk off….
HAHA Stolen goods? we wil enjoy them but they were hardly stolen. You all didn’t man up and pay for a new arena then blame us? Your politicians were just trying to save face by this whole charade as was Shultz afraid he’s loose some customers after he made out liek a bandit with the sale. Please…take your head out of your butt next time you post. Is it raining in Seattle now?
Bennett lied… a lot to get the team. The Schultz lawsuit will bring in Stern and the NBA. Stern “only a half billion dollar arena to meet Bennet’s demand will do” now that the team is leaving “a fixed Key Arena will do”