Super Sonics and Storm sold to OKC group | TigerFan.com

OkieTigerTK · Jul 18, 2006

Oklahoma Group Buying Seattle SuperSonics
Updated 4:20 PM ET July 18, 2006
By TIM BOOTH

SEATTLE (AP) - A group from Oklahoma City has agreed to buy the Seattle SuperSonics and the Seattle Storm, an official with the Sonics said Tuesday.
The team scheduled an afternoon news conference to officially announce the sale. The team official spoke to The Associated Press on condition of anonymity because the sale had not been announced.

The Basketball Club of Seattle _ owners of the NBA Sonics and WNBA Storm since 2001 _ would not officially comment until the news conference.
The Seattle Times reported Tuesday that Oklahoma City businessman Clay Bennett was involved in the purchase of the Sonics.

Bennett was instrumental in the temporary relocation of the New Orleans Hornets to Oklahoma City following Hurricane Katrina and emerged as a potential investor in the Hornets. He did not immediately return telephone calls for comment.

In February, Sonics majority owner Howard Schultz threatened to possibly move or sell the city's oldest major league professional sports franchise, saying the team has lost about $60 million in the past five years. The Sonics will begin their 40th season this fall.

Team officials have blamed a revenue-sharing lease at KeyArena with the city of Seattle that lasts until 2010. The lease was called the worst in the NBA by commissioner David Stern.

http://dailynews.att.net/cgi-bin/news?e=pri&dt=060718&cat=sports&st=sportsd8iuk5e00&src=ap
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The group reportedly includes Aubrey McClendon, CEO of Chesapeake Energy (and founder of CHK); Tom Ward, co-founder of Chesapeake; Cliff Hudson, CEO of Sonic Drive Ins; and someone else that I can't remember who the news said.

The new ownership group has committed to keeping the teams in Seattle for one year while they negotiate on a new arena. Considering the Seattle group couldn't get a new arena, I don't see the new ownership group getting one. If they don't, they in a year they can move the teams to OKC.

Considering that the Hornets will only be in OKC one more season, that is a pretty convenient timeline.

TigerFan23 · Jul 18, 2006

Sweet, so now we know that the Hornets will be coming back to New Orleans.

NoLimitMD · Jul 18, 2006

TigerFan23 said:

Sweet, so now we know that the Hornets will be coming back to New Orleans.
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Until they realize that NOLA didn't support them, PRE-Katrina.

TigerFan23 · Jul 18, 2006

NoLimitMD said:

Until they realize that NOLA didn't support them, PRE-Katrina.
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It'll take a little while, but with the team being so young and on the rise and the fact that we have a Rookie of the Year leading the way, I think the city will come around.

Honestly, I think its going to be the Saints and the Hornets that have a big role in helping the city get back on its feet.

NoLimitMD · Jul 18, 2006

TigerFan23 said:

Honestly, I think its going to be the Saints and the Hornets that have a big role in helping the city get back on its feet.
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How? And I'm not being sarcastic here.

tigerleg24 · Jul 19, 2006

I think the Hornets just became the big free agent that everybody wants. City's looking for an NBA team will be throwing everything and anything at Mr. George Shinn.

TigerFan23 · Jul 19, 2006

NoLimitMD said:

How? And I'm not being sarcastic here.
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I just think it gives everyone something to rally around, especially if the teams are successful. Not to mention that having two successful professional sports teams could help bring business back to the city. It won't happen overnight, but I think it would just help in bringing the city back.