Sonics settlement?

[Karried]

Yes,

You do have to admit... this is a great day for OKC!

Ten years ago, no one could have dreamt that this would come to pass.

[Easy180]

A reliable poster on the PI forum just said that King 5 is reporting that Schultz will not seek an injuction

I think we all know what's going to happen next with his lawsuit

[Saberman]

KJR radio in Seattle is already saying Schultz will drop lawsuit tomorrow.

[OKCDrummer77]

I've been waiting for this since the "HUGE NEWS!" thread first appeared. This is truly an exciting time to live in OKC!

[Blazerfan11]

Now all we need is Thomas Friedman to come here and say "Hey Seattle, suck on this!"

[Nawfside OKC]

hey I got a question with this being a monumental moment in OKC history for the city and clay bennett, his suit black with royal blue and white tie might this be the new colors of our team ? most owners always wear there team colors in a suit combo at a press confrence especially a confrence with such magnitude as this ...

[Karried]

I heard one of the reporters predict that the colors might be Red, White and Blue .... I didn't think much of it until you just mentioned this...hmmmmmmm

[HOT ROD]

Storm would make for a good intro, with all the lights off and make storm sounds as they run out, but Storm is a WNBA team and I think a female gladiator name... Might be hard to break the connection.

Ok Can someone help me with this? I thought the judge would post something at 6 or 7 but we got this at that time. So we still do not know if they will be here in 1, 2, or 3 years do we?

So does Thunder!

[CCOKC]

I can not believe this day has happened in my lifetime. Ever since I fell in love with the NBA almost 30 years ago I wanted to live in a city where I could watch the best players in the world play. Never, never did I dream that I could do that in my own hometown. If I wasn't the first one to sign up for the tickets list, I was pretty damn close to it. Can't wait for opening night.

[jbrown84]

Here's the Times editorial. No comment.

CITY OF DESPAIR

Seattle sports fans can only feel despair as the high-tech shining city of the future loses its 40-year basketball franchise and a ton of civic pride to a group of dishonest brokers from Oklahoma City.

The team is leaving town. That is all anyone will remember. The settlement between the city and the owners of the Sonics, or whatever the team will be called once the bus reaches the Sooner State, is hugely disappointing.

Promises to deliver a future team are just that. You cannot take it to the bank, or KeyArena, or any other place where basketball belongs.

The settlement may be a little face-saving for Seattle Mayor Greg Nickels because the first $45 million payment is enough to cover rent and debt on the earlier renovation of KeyArena. But this is not a good deal. Clay Bennett's group pays $45 million to get out of town, followed by $30 million payable to the city in 2013 if another team is not forthcoming to Seattle.

Seattle retains the name and memorabilia.

That second payment sounds good until you realize $30 million flows only if the Legislature in 2009, not 2010 or any other year, allows the city to collect a modest hotel-motel tax to refurbish KeyArena.

A statement by the National Basketball Association that Seattle is a great basketball town is as weak as the NBA's promise to work with possible new owners led by Microsoft CEO Steve Ballmer.

The only good news for miles is Ballmer and his group remain willing to buy an NBA franchise if the city and the state each pledge $75 million to redo KeyArena.

A settlement is the worst scenario for a separate lawsuit alleging contract violation by the group that purchased the team from Starbucks CEO Howard Schultz and other investors. Bennett et al promised a one-year, good-faith effort to make it work in Seattle. Evidence abounds the partners had other intentions from the start.

How likely is it that a team will leave town and be brought back? Not likely. If the city lost its lease case, it could appeal to a higher court and ask to hold the team during appeal.

There is no prettying this up. Money is coming to the city. Big whoop.

Having an NBA franchise called the Sonics is about much, much more.

[HOT ROD]

Ill post from a somewhat Seattle POV.

The City and Clay settled on the lawsuit, effective immediately:

Clay will pay the City of Seattle $45M
The Sonics franchise will relocate to Oklahoma City beginning Thursday am

The City of Seattle will retain the name, colours, history, titles; however OKC can lay claim to the statistics until Seattle gets a new team (assuming they subsequently resurrect the Sonics moniker)

The City will be entitled to an additional $30M if it meets the following conditions:
- the state approves funding for Key Arena or a new arena BY END OF 2009
AND
- the NBA does not get a team to Seattle within 5 years

(both conditions have to be satisfied, essentially giving Seattle one and a half more years to get a new arena or NOW a refurbished Key, per the NBA's guidance)

Upsides for OKC:

Immediate team
No more lawsuit
Finally, something to call our own
The City's lawsuit was likely to benefit Clay mostly but probably would have tied up the team in appeals, which would have prevented a move until 2009 at the earliest
One more upside is - the DIRT presented in the City's case just about annulled Howard Schultz lawsuit; so much so that most people here (aside from die-hard sonics fans) are sure Howie will drop his lawsuit on Thursday (since evidence was shown that the city prevented Clay from having a Good Faith Reception from the state of WA - essentially RICO against the City and particularly Slade The Blade, City officials, and the 'new' ownership)

Downsides:
The settlement did not immediately dismiss Howard Schultz lawsuit and there is a possibility he might file an injunction to stop the move. But he'd have to put up a HUGE sum of money (since the settlement amount could top 75M, I'd assume his bond would top 100M, and Howard Schultz is NOT rich like Bill Gates, Ballmer, or even McClendon, Bennett, and Ward).

Ford Center wont be complete

Clay might still have to pay a class action settlement that was filed by sonics fans, who think they were duped into getting season tickets. I dont recall the Sonics saying, hey - if you buy season tix, we will stay. Yet, that essentially is what the class action is stating they were led to believe. I think, Clay might owe them a refund, but that's it.

Those are the only three real downsides, but like I said before - I and MOST others here think Howard will drop his lawsuit. Especially since Pechman will be the same judge, and she heard the dirt dished against the city. How could Clay attempt a good faith effort with the city, Slade, and others manipulating things behind the scenes? This came out in the city's case, and IMO (and many others) virtually eliminates Howard's case.

Nevertheless, CONGRATULATIONS OKLAHOMA CITY - THE TRUE RENAISSANCE CITY!

CONTINUE THE RENAISSANCE - ALWAYS!!!

[jbrown84]

ESPN polls. Go vote!

ESPN - SportsNation Polls - SportsNation

[HOT ROD]

by the way, my take on whether Seattle will get another team.

It's very possible, that the Grizzlies and/or the Hornets will become available and surely Seattle could easily snap one up. But this all continges on Seattle getting a new arena. Now, the NBA said they'd also accept the refurbished Key as well.

So, do I think EITHER would happen? NO.

Why

Because, to steal someone else's line, it's the scenario of the chicken or the egg; which comes first?

The NBA gave no guarantee that Seattle WILL get another team provided they build an arena or refurb Key. They only said, they'd assist, inform, and that Seattle owners would have to buy, apply, build an arena, and relocate.

Steve Ballmer, while rich, is not that rich. He's NOT Bill Gates or Paul Allen. He's a little bit richer than Aubrey McClendon (if you were to liquidate both). And really, Ballmer is not really a 'fan', he's sort of being FORCED to do this because he is the CEO of the Seattle area's most recognized company (not the largest tho, Costco and WAMU are larger). Ballmer is doing it to appease his constituents who work for him (as I do), to 'maintain' the quality of life so to say - for his employees. that's pretty much it.

I would be much more inclined, if Paul Allen were the pursuer. He has the bucks and the NERVE to make it happen, as he is an avid fan of Seattle (much like Bennett et al are an avid fan of OKC) and Paul would be even more ruthless than Bennett was regarding getting a team to Seattle. It was Paul Allen who bought the Seattle Seahawks and paid some of his own money to build Qwest Field. However, Paul bought the Portland Jailblazers a long time ago and built their arena (Rose Quarter), so unless he sells Portland or offers a trade (which is certainly a possibility), I don't see his involvement in Seattle's NBA dreams.

so, given my state's record - I think the NBA is history. We dont have a guarantee, and people here are so skeptical of that, that they wont take a chance like OKC people did; only to possibly get burned with a white elephant. Like I said, Ballmer is NOT Paul Allen, so that also has people skeptical whether the 'new' ownership would even have the guns to bring another team to Seattle.

I see the issue heated for the next leg session, but eventually dying out - unless 1) Stern promises a team or 2) Paul Allen becomes the owner via a swap with say, Shinn or the Memphins ownership [which could happen].

IMO, 2) is the BEST absolute chance for the resurrection of the Sonics. If Paul were to announce that, you can BET your bottom dollar that a new arena would be built (Key Arena would be bulldozed and a brand new Bennett style $500M palace would ensue) and the NBA would be back as soon as the building was finished and the swap was final - as surely the NBA would approve quickly.

I think that is our ONLY chance of having Oklahoma City vs. Seattle NBA games again - which would definitely be interesting this time around.

[HOT ROD]

also, go vote here.

Sonics: Moving Day is Here | News | Q13.com | KCPQ TV | Q13 FOX News

[Nawfside OKC]

the funny thing is noboby takes in account that in order for seattle to get a team (unless a west team relocates 2 in a year not happening) the NBA would have to create 4 new teams to even out the competition.Come playoff time a new team in sea would mean a team in the east/north and south would have to be created to equal the brackets.The same applies for the west thus 4 new NBA teams must be created (unlikely)....that is fact

[HOT ROD]

nawfside, I think they'd only need two more teams (giving 32 teams) which would even things out actually (4 leagues, 8 teams).

nevertheless,

take a look at the film in this link - pay close attention to the end of the film (not one sonic fan showed up). So much for the 'rampant sports history and support of Seattle'.

Sonics Going To Oklahoma City In Settlement - Sports News Story - KIRO Seattle

[Nawfside OKC]

nawfside, I think they'd only need two more teams (giving 32 teams) which would even things out actually (4 leagues, 8 teams).

nevertheless,

take a look at the film in this link - pay close attention to the end of the film (not one sonic fan showed up). So much for the 'rampant sports history and support of Seattle'.

Sonics Going To Oklahoma City In Settlement - Sports News Story - KIRO Seattle

true but then they would have to revamp whice teams are north/south in the west and the east respectfully come playoff there is no way around that

[Nawfside OKC]

I totally take back what I said I was wrong and hotrod was right there would only need to be one more team created to compliment the sonics on the west if they got a new (expansion) team.I was wrong...america I lied..wish another person could say that he has the initials GWB

[Kerry]

If Seattle gets an expansion then another team has to be created in the East. However, if a team from the East relocates to Seattle then all the NBA has to do is move Minnesota from the West to the East and problem solved. However, let Seattle worry about their NBA future. How to get an NBA team is their problem now.

[Toadrax]

I don't see them getting an expansion.

Why would the NBA let them have an expansion after they screwed up this badly? There are other markets out there that would treat a team much better.

[metro]

Why do we have to bring Bush into this? Let's leave it at basketball folks. If you want to talk political go to the political forum.

On another note, ESPN has yet another poll for a total of at least 5:

ESPN - NBA Basketball Teams, Scores, Stats, News, Standings, Rumors - Pro Basketball

[Architect2010]

ESPN polls. Go vote!

ESPN - SportsNation Polls - SportsNation

After you vote for the first question, click the view maps button. It shows a map of the U.S. and all of the states in red think OKC can't support the NBA, the ones in blue think OKC can. We apparently have won over our immidiate region.

Texas, New Mexico, Louisiana, Arkansas, Missouri, Kansas, Alabama, Nebraska, South Dakota, and West Virginia all had a majority yes vote. The other states don't think we can.

[jbrown84]

I find the results of the "when will Seattle get a new team" question amusing.

Washington says never, along with Vermont.

Mississippi is alone in their optimism that it will be in the next 5 years.

And North Dakota doesn't have the internet.