Sonics and Storm sold to group from Oklahoma City
Tuesday, July 18th 2006, 2:05 pm
By: News On 6
SEATTLE (AP) -- A group from Oklahoma City has agreed to buy the Seattle SuperSonics and the Seattle Storm, the Sonics said Tuesday.
The Basketball Club of Seattle, which owns the Sonics and the Seattle Storm of the WNBA, will sell the team to the Professional Basketball Club LLC, headed by Oklahoma City businessman Clay Bennett. Bennett said at an afternoon news conference in Seattle that whether the Sonics remain in Seattle for the long term would depend on whether the team can reach an agreement with the city to replace or renovate KeyArena.
"It is not our intention to move or relocate the teams," Bennett said.
No price was immediately reported, but Sonics majority owner Howard Schultz said the team turned down higher bids from groups that sought to move the Sonics immediately.
"It is really impossible to communicate how difficult this decision has been for us to make," Schultz said.