Bye, bye Sonics - Sitcoms Online Message Boards

theshark8777 · 07-02-2008, 09:32 PM

SEATTLE - 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.

Chelsea · 07-03-2008, 11:13 AM

It's entirely possible where we could have a situation where the Ex-Sonics play this season in OKC - but then are back in Seattle next season. This settlement that greenlights the Sonics to move to OKC only covers the city's lawsuit, and not the one by former owner Howard Schultz. The trial for it is set to begin next spring and will still go forward - if he wins (and from what I've heard, he actually has fairly decent chances), the team is right back in Seattle in 2009.

catlover79 · 07-03-2008, 11:39 AM

What a mess.

MrCleveland · 07-03-2008, 03:04 PM

Seattle is probably going to get a team in 2013.

TVFactFan · 07-03-2008, 07:40 PM

I wish the 76ers were moving to Oklahoma City-lol

James · 07-04-2008, 01:22 AM

Quote:

Originally Posted by KingofTVResearch

I wish the 76ers were moving to Oklahoma City-lol

I wish the CAVS were moving to Oklahoma City, so we would be rid of LeBron aka His Overratedness!

Oh, wait, he's probably going to bail for Brooklyn come 2010, then we'll all say a collective "GOOD RIDDANCE!!!"

Scoobiedoo30 · 07-05-2008, 11:08 AM

This is the first I am hering of this Late Breaking News

AKA · 07-07-2008, 08:42 PM

Bennett and Stern are disgusting. They ought to be ashamed of themselves.

07-02-2008, 09:32 PM	#1
theshark8777 Hats for Bats Forum Veteran Join Date: Jan 23, 2001 Location: northeast Ohio. Posts: 5,315	Bye, bye Sonics SEATTLE - 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.
	__________________ Who ate all the pecan Sandies??

07-03-2008, 11:13 AM	#2
Chelsea Semi-retired Forum Veteran Join Date: Jan 07, 2001 Location: Washington Posts: 5,727	It's entirely possible where we could have a situation where the Ex-Sonics play this season in OKC - but then are back in Seattle next season. This settlement that greenlights the Sonics to move to OKC only covers the city's lawsuit, and not the one by former owner Howard Schultz. The trial for it is set to begin next spring and will still go forward - if he wins (and from what I've heard, he actually has fairly decent chances), the team is right back in Seattle in 2009.
	__________________ Chelsea Former Administrator, 2005-2012 Former Member, DVD Review Team, 2004-2010.

07-03-2008, 11:39 AM	#3
catlover79 God Bless Val Forum Addict Join Date: May 29, 2006 Location: Bewitched in Ohio Posts: 70,396	What a mess.
	__________________ "Jesus loves you and He approves this message." "I'm alive. I'm feeling good. I'm trying to live every moment as much as I can." - Valerie Harper, March 2013

07-03-2008, 03:04 PM	#4
MrCleveland Drew Carey from Hell Forum Star Join Date: Nov 10, 2007 Location: The City of Cleveland, in The State of Cleveland, in The United States of Cleveland Posts: 14,242	Seattle is probably going to get a team in 2013.
	__________________ Thank God for kids that love Obscure Things. Lee Hazlewood (1929-2007) You ARE Special to God! Rev. Ernest Angely (August 1921-May 2021)

07-05-2008, 11:08 AM	#7
Scoobiedoo30 Member Forum Superstar Join Date: Jun 27, 2002 Location: KENNER, LOUISIANA Posts: 27,658	This is the first I am hering of this Late Breaking News
	__________________ Who Dat

07-03-2008, 07:40 PM	#5
TVFactFan Member Forum Junkie Join Date: Aug 17, 2002 Posts: 99,154	I wish the 76ers were moving to Oklahoma City-lol

07-07-2008, 08:42 PM	#8
AKA In mono (where available) Forum Star Join Date: Dec 17, 2001 Location: Southern California Posts: 16,863	Bennett and Stern are disgusting. They ought to be ashamed of themselves.