There are more details about the terms under which the Sonics will be playing NBA Basketball in Oklahoma City. With a new contract binding between the city and team, the Ford Center's new naming rights and rent payments should cover the city's cost to operate the arena.
And, under the lease, the arena's management, SMG, will stay the same, ensuring the building continues to be a hot spot for other types of entertainment.
"We plan to continue bringing as many events as we possibly can, so hopefully, we'd love to have something going on here almost every night, and that may become a reality," said Ford Center marketing director Tim Linville.
The new lease also spells out how ticket, suite and concession revenues will break down and conditions under which the team could break its 15-year lease.
It does not mention ticket prices, although the NBA requires a certain number of tickets be sold for $10.