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Thread: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

  1. Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    Doug Dawg is keeping his paws crossed!

  2. #127

    Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    The team can’t take any more debt and the city can’t afford to pay for the arena.

  3. #128

    Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    If Clay can't get anything worked out by April when the legislature is through, won't it be obvious to the Seattle fans that the team will be moving eventually, and make for a TERRIBLE lameduck year? I'm just trying to think if there is any way we could have nba next year...

  4. #129

    Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    Even though it would be great to have the NBA back in OKC next season, i think one season off would help us rebuild the same excitement we had the first season the hornets were here for another team. IMO I would personally rather see the Portland TrailBlazers here.... but beggers can't be choosers....that being said, i'll be extremely happy and support any NBA team that makes OKC home.

  5. #130

    Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    Well Watson, having the TrailBlazers would be good for OKC because they are a city that is often compared to OKC as far as size, and competes with OKC as far as conventions, etc. "Stealing" there team would be a loss for Portland and a win for OKC. Don't think that is being realistic considering they aren't likely to move and the Sonics are.

  6. #131

    Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    House speaker against Sonics arena deal
    Chopp says education a much higher priority
    By David Ammons AP Political Writer


    OLYMPIA, Wash. — Only a day after the Seattle SuperSonics proposed a gleaming new $500 million arena for the south Seattle suburb of Renton, the powerful speaker of the state House all but pronounced the plan dead on arrival at the Legislature.

    “I’m sorry, but the education of our kids is simply a much higher priority,” Rep. Frank Chopp, D-Seattle, told reporters Wednesday.

    Sonics owner Clay Bennett, an Oklahoma City businessman, made a personal pitch for the new proposal on Tuesday before a Senate committee.

    On Wednesday, Chopp offered his strongest criticism yet. He said he wasn’t declaring the plan dead, but took great pains to denounce it as a grab by wealthy businessmen for a playground for the rich.

    The speaker has broad power to determine the House’s agenda, and his comments indicate that the Sonics’ plan likely would hit a brick wall in the House if it ever emerged from the Senate. When he has been this adamant, such as in opposition to a waterfront tunnel for Seattle, Chopp has always prevailed.

    Lawmakers have a constitutional duty to support public education and other social needs, such as housing, also are of greater urgency than a sports arena, he said.

    Chopp ticked off other reasons to oppose the plan:

    • The regional economy is already booming without the new facility.



    • The plan was tardy in arriving and only two weeks remain before a key committee deadline.



    • The Sonics already have a place to play, KeyArena in Seattle.



    • In his view, the club spends wildly for player salaries. “They ought to get their own financial house in order when their payroll is over $50 million for, what is it, 10 players? I think that’s a little ridiculous. They need to get their own financial house in order and if they did, they wouldn’t have to ask for public help.”

    He said he can’t stomach diverting money from school kids “for something where the courtside seats cost a thousand bucks? Give me a break!”



    • The Sonics have rejected a public vote on a plan, unlike the NFL Seattle Seahawks.



    • The threat of the Sonics leaving so they can make more money elsewhere? “That’s not my concern.”

    Asked about the speaker’s comments, Bennett spokesman Jim Kneeland declined to rate the Sonics’ chances now.

    “We don’t know. We’ll keep pushing ahead,” he said in an interview. “The speaker has one vote. We hope he will keep an open mind.”

    The Sonics’ plan wouldn’t add new taxes and wouldn’t directly affect schools, Kneeland said. The multipurpose arena would be a “tax-generating economic engine” for the region, not a drain, he said.

    Reps. Eric Pettigrew, DSeattle, and Fred Jarrett, RMercer Island, will sponsor the Sonics’ plan in the House, he said.

  7. Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    I just listened to a webcast interview with Bennett concerning the proposed arena.

    He said it is to be "existing" funds which would be redirected, and would only cost the people of King County if they stayed in a hotel/motel, ate at a restaurant, or rented a car. He gave an example. A $100 meal would contribute .50 to the fund.

    In the interview, he also used the phrase "while we have the team." Reading between the lines, I say he is hinting that the team is definatly moving to Oklahoma City if the arena is not built... And possibly will anyway.

    You can find this on the Sonics website.

  8. #133

    Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    only two weeks remain before a key committee deadline
    It sounds like this will be sorted out pretty quickly.

    It also sounds like there is no chance of this going through, which would likely mean the Sonics will be through in Seattle in the very near future.

  9. #134

    Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    Doesn't Bennett have to apply for relocation by like March 1 to have them here in 07/08? I wonder if that is reachable, in light of recent events.

  10. #135

    Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    Bennett has to be careful and patient here.

    He had set an October 1 deadliine for a new area deal but if this doesn't pass the WA legislature in the current session (ending in late April) then that will pretty much cast the fate of the team.

    I would expect him to continue to posture through next season, all the while working behind the scenes to get the team to OKC for the 08/09 season.

    By then, he can say he did all he could to keep the team in Seattle and OKC will have plent of NBA goodwill to cash in.

  11. Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    I cannot fault the Washington state legislature for criticizing the proposal and being against using taxpayer money for it.

    The cost of building professional sports stadiums has become supremely ridiculous. The new Dallas Cowboys stadium, although being pretty cool, weighs in at over $1 billion! And the taxpayers are footing much of the bill. Will residents of Arlington get any kind of a price break on Cowboys tickets for what they're having to pay in extra taxes? Probably not. One can make a strong case that the run-up in stadium costs are encouraged by the amount of public money going in to subsidize these stadiums. All that extra taxpayer money works as an enabling factor on loose accounting practices.

    If the arenas had to be built with only private capital there would be a lot more controls put in on project organization and cost control. When taxpayer money is introduced the whole thing risks turning into a bottomless slush fund. Just look at what our health care industrial complex is doing to taxpayers by way of the world's largest government subsidy (and it's still described as a "free market" system).

    Professional sports enterprises like the NFL, NBA and Major League Baseball make big sums of money. They're also private businesses. Most private businesses have to get by on only the money they make. Most of us either own or work for businesses that get no government funding. I wish I could make the taxpayers buy me a new industrial building and plush offices. Unfortunately pro sports organizations are able to hold a lot of cities hostage because residents believe their own city is not a legitimate "real" city unless it has one or more pro sports teams.

    It may be a good thing for Oklahoma City to eventually become the new home for the Supersonics basketball team. 20 years from now when the "new" has worn off the Ford Center (or whatever it will be called then), how will local taxpayers react to demands that they fund a new stadium?

    In the long run, certain nomadic sports franchises will kill any sense of relevance they have to the community in which they are located. Already there's some sense of irrelevance in that very few pro athletes are from the cities in which they play their sport. If a team moves around too much, why would any locals be loyal?

    The Supersonics will have a golden opportunity in front of them if the team permanently moves to Oklahoma City. It would be the area's first major sports team and be able to capitalize on a very untapped market. Any pro sports team must strive to maintain a good relationship with the community. Obviously the relationship up in Seattle has soured.

  12. Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    This all is what I've been telling you all from the get-go, get ready for the Sonics and Storm. I said all along, there is NO WAY we'd approve this and NO WAY our legislature would either.

    Furthermore, Boeing owns the property in Renton (I used to work on that land actually) - we divested the land. But Boeing does have a landowner who plans to build a major retail operation (like a town center), not an arena.

    So, given this information - that the land in Seattle suburb Renton ISNT even Bennet's nor have there been any discussion with Boeing about Bennet taking the land over, I assume Bennet was going to first secure the dollars from the state THEN begin negotiations with Boeing and the land owner.

    In all, a great attempt to appeal to the Seattle/Washington market while at the same time providing himself a GREAT "out". I wouldn't be surprised if the application to move the team to OKC in 2007 isn't being drafted (or wasn't already drafted) and ready to submit by March 1.

    Perhaps there could be a clause inserted that says - we want to move the team to OKC should the washington legislature deny our funding request. This would take place BY April (when the session ist over) but for all intensive purposes - the decision as already been cast.

    Another thing that could happen is Bennet could submit the application on March 1 asking for a variance which would give time to see what the legislature does.

    Honestly, I dont know why Bennet made his deadline OCT 31, 2007 in the first place instead of a 6 month deadline coinciding with the Washington legislative session. After all, he bought the team in July 2006 (who cares if it closed on Oct 31 due to NBA approval, the deal was made in July so that should have been the deadline, if not the legislative session). ???

    What else could be done to secure funding after April?? Surely, Renton can not afford it. Surely, King County will not dare fund it (and the county would have to get state approval anyways).

    Seattle said no, unless. ... And the state is saying NO, we have other more important things to fund. ... If put to a vote, the residents here would say the same, which is why Bennet doesn't want to go there.

    I dont know, Seattle might be a larger market than OKC but Seattle has its hands full with its other two teams - the Sonics are "has-been" around here. It wouldn't be much of a loss (other than historically) if the team left.

    We are pretty confident we could get our hands on a new team when the Sonics leave. Portland is more excited about MLB so they will make that push. If they are successful, look for the trailblazers to make the trip up here to Seattle or possibly Vancouver BC if Seattle doesn't yet get its arena situation squared.

    Of course, Paul Allen (Trailblazer owner) could fund the arena himself (like he did, the Portland Rose Quarter) and make even more $$ here.

    Im sure there will be some movement, so no real loss to Seattle other than a little Pride!. The ONLY thing that could stop what has been set in motion - is for some miracle in the legislature (which would get overturned by the citizens through referendum anyways) OR if the Hornets stay in OKC (then Bennet might try to get the funding privately).

    Otherwise, its much more profitable to move the team ASAP (when the Hornets leave) and that is what I invision will happen.

    Nevertheless.

    2006-2007 Go New Orleans/Oklahoma City Hornets (Sonics keep losing)

    2007+ Go Oklahoma City Supersonics and Oklahoma City Storm

    You all just don't know what this will do for OKC, having a major league even year round. And having Oklahoma City mentioned in the major leagues year round - which we have gotten a taste with the Hornets.
    Oklahoma City, the RENAISSANCE CITY!

  13. #138

    Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    Thanks for that perspective, HOT ROD.

    It's pretty clear that Bennett is a pretty shrewd guy (has a lot of experience in pro sports) and that he is playing this perfectly.

    He has to give the appearance of trying to keep the team in Seattle, so he asks for way more than he knows anyone is likely to give, and then he's in a no-lose situation. If a mircale occurs and he gets his way in WA, he and his partners will have a very sweet deal. If he doesn't, he just brings to the team to OKC which was the stated goal of their partnership to begin with.

    He's just playing the game now... But I wouldn't expect for him to get too impatient and suddenly try and bring the Sonics here next season. He'll take his time to work everything out behind the scenes, let them play in Seattle one more year then announce the mover after the end of that season.

    That will give him plenty of time to get the NBA people on board as well. Even if they don't have to officially approve such a move, I'm sure there are still a bunch of politics to negotiate.


    I think this is really going to work out fantastic for OKC. Doing one year without the NBA might actually make people more excited and easier for them to switch their allegiances to the Sonics.

  14. #139

    Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    This is going to be great... Re-build the team once you get it of course...

    OKC Sonics-- Dang those Washington boys must be mad... They usually play basketball then football but...

  15. #140

    Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    HOT ROD, you've been pretty spot on with the local perspective from the streets. I found it interesting that voters had previously rejected funding a stadium (can't remember if it was the football or baseball stadium) and the legislature funded it anyway. Do you think this has had anything to do with mobilizing the grassroots efforts in the Seattle area against publicly funded sports venues? I would suspect that the legislature may have spent all of its political capital as it pertains to building sports venues. It seems clear that the people don't want it and I would be surprised if the legislature ignores that sentiment again. It seems private funding will be the only option and I can't see a good angle for anyone to do that.

    I also half-way suspect that this whole thing has been in some ways orchestrated by Stern. Bennett seems to be working for the NBA as much as for his group. Sure, there's no de jure relationship their, but the only possible outcomes here is that the NBA gets another tenant in a public ally financed marquee venue or it gains a cash cow with friendly and experienced ownership by locating in a proven and non-competitive market. The interesting thing would be to see if Stern enlists Bennett's group again if the Seattle arena gets built.

    I also completely understand Washington’s perspective on this deal and I hope they do find the funds for the social projects they are trying to protect by rejecting this stadium. I do think professional sports can tangentially help a city, but it also makes sense to prioritize. Given that they have already funded improvements for two teams in the last decade or so, at some point they have to say enough is enough and I think that’s what’s going on here. If OKC does land the Sonics, I hope it, too, will proceed prudently with regards to funding further projects. I think it’s much better to have one consistently supported franchise than 3, where at least one always seems to be struggling at any given point.

  16. Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    "I found it interesting that voters had previously rejected funding a stadium (can't remember if it was the football or baseball stadium) and the legislature funded it anyway."

    It was Safeco Field for the Mariners. They threatened to move if the state did not apporve the funding to replace the Kingdome. They had already built the stadium for the Seahawks.

  17. #142

    Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    Looks like one more year in Seattle:

    *********************

    Sonics owner not planning to file for relocation
    By John Rohde
    The Oklahoman

    The NBA's annual deadline for a team to apply for relocation is next Thursday, and new Seattle SuperSonics owner Clay Bennett said he has no intention of filing.

    Bennett said he will relocate the Sonics, potentially to Oklahoma City, if a new arena project in the Seattle suburb of Renton is not approved within a self-imposed one-year deadline that began Oct. 31, 2006.

    "We do not intend to apply for relocation. We intend to be successful in Washington," Bennett said Thursday. "I still think we've got a lot of life left in this deal."

    Bennett said he chatted several times with NBA commissioner David Stern during last weekend's all-star activities in Las Vegas.

    "He's been very supportive," Bennett said of Stern.

    Asked about the Seattle situation, Stern told the Seattle Post-Intelligencer: "The new ownership has done so much, beyond what we could have hoped. They were very poorly treated at first. Everyone thought they were simply going to go in and wanted to move the team to Oklahoma City again. And they were disbelieved when they said they would like to keep it there.

    "We've been around this track a long time and I hope it happens because Seattle has been a very good city for the NBA and the Clay Bennett group, I think ... will continue to be great owners for the Sonics. I don’t see a role for me at this point."

    When an NBA team applies for relocation, the commissioner appoints a relocation committee, which studies the application and makes a recommendation to the league's Board of Governors. The board then votes at its annual meeting in late October, with a simple majority needed for approval.

  18. Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    Quote Originally Posted by mranderson View Post
    "I found it interesting that voters had previously rejected funding a stadium (can't remember if it was the football or baseball stadium) and the legislature funded it anyway."

    It was Safeco Field for the Mariners. They threatened to move if the state did not apporve the funding to replace the Kingdome. They had already built the stadium for the Seahawks.
    Actually, Safeco was built first if I am not mistaken. But yes, we did not approve the tax to build it but the legislature found the dollars and did it anyways.

    Here with the Sonics, there is a "sort of" reversal - in that the state does not want to fund the Sonics arena this time; compound that with we tax payers will not vote in favour of it anyways.

    So pretty much here ist the deal:

    Right now, its being "reviewed" by the state. It has received negative to marginal at best initial reaction. Some heavy hitting females (like our ways/means chair, who happens to be from the suburb where the arena would be built by the way and gov Christine Gregoire ) are seeing some positives.

    Clay apparently is working up a plan to market the arena as a multi-purpose facility capable of drawing large acts to the area. Right now, Seattle gets sided in favour of Vancouver BC (mostly), SF, and Portland - we almost NEVER see a concert act unless it goes to the Gorge Ampitheatre (which is some 100 miles east). Because of this, some lawmakers are having a little bit of support for it but the price tag still has most in doubt it will make it through - especially the Speaker of the House - the most powerful person in our legislature (what he says, goes pretty much - and he said it was Dead On Arrival). But you still have due process - so .....

    Clay will put together his marketing scheme as well as the drawings. He doesn't have much time tho because the state session concludes in mid/late April and I seriously doubt they will go into "special extended session" for the Sonics.

    1) If the state were to vote in favour of the arena, King County (who would also need to have approval) has stated that they WILL NOT UNDER ANY CIRCUMSTANCES support a tax extension that does not get approval from King County voters!!! So, even if the state were to approve it (there is a 5% chance of this), it would not proceed because King Co collects and administers tax. By charter, the state can not pre-empt the county's authority. And there is a 1% chance there would be a vote in time (if the state first approved it by April) - and a less than 1% chance such a public vote would get the majority in favour.

    So what does all of this mean? Apparently, Clay would love to enter the Seattle market and cash in for his investor group. He would not only be the beneficiary of such a facility that does not exist in the 3.4M resident Seattle/Tacoma Greater Puget Sound CSA but also he would look good to the NBA and NHL and other leagues as having been the "saviour" of pro sports in the 15th largest market. Surely then, anyone would let him get ANY franchise he wants for OKC. ..

    Given this scenario - he knows he's in a win/win situation. He is prepared to lose $$ for a couple of years in the hopes that he either hits the cash cow from Puget Sound's King County or he can bring the teams back to OKC. With a new arena he stands to make more dollars in King County than OKC (esp if he were to also get an NHL team and the "acts" that we always miss currently). But with the NBA only or "God Forbid" Key Arena in its current shape - OKC has Seattle hands down as far as support/profitability (P/L ratio).

    So, he's willing to go to bat for this. But I think he knows that it will all fail - and surely he will be allowed to move the team - since he did his "due diligence" here. Here are my predictions, which are in sequence (so if the first does not pass, it all fails):

    - WA Legislature passing the tax extension by April 22 - 5%
    (but if it does pass)
    - King County will assess the tax - 0%
    (unless there is a vote of the public in King Co)
    - Public Vote in favour of the tax - 30% (mostly comprised of fans and those not in "the know"). 30% is not enough to pass.
    (another angle)
    - WA pass the extension (assuming this is so) but get funding from state sources instead of trying to extend the King County tax - 10%
    (which would result in)
    - Referendum or Initiative by voters overturning such move - 95%

    In the 0.00009% chance that the Sonics make it through the above and get the arena approved and funded: I think there is a 90% chance the Hornets will relocate permanently back to OKC after a year in N.O. (no offense to N.O., this is strictly business thinking); as surely if Bennett had not bought the Sonics Shinn would have fought returning to N.O. or would have made a deal to either split the schedule or return for a 1 symbolic year then permanently relocate to OKC. (damn-it Clay....)

    So, in short - given all of the apathy against the Sonics here and the fact that OKC is in the 'go' for either the Hornets or the Sonics; essentially both are OKC's teams right now. I would predict a 95% chance OKC will land the Sonics/Storm package but if not - I think surely the Hornets would return to their beloved OKC pretty quickly.
    Oklahoma City, the RENAISSANCE CITY!

  19. #144

    Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    You almost have it right Hot Rod. I fully expect an emergency meeting of the NBA Board of Directors to happen in the off-season and approve the Sonics to move to OKC for next season.

    While this might be little unusual, think about this. OKC will already have local ownership, proven corporate support, proven fans support, and a ready to go arena. This is a story OKC NBA fans have been following for two years now. An NBA coming to OKC won't have to build fan support, work on sponsors, or worry about selling season tickets. The Hornets have laid the ground work for Sonics.

    The Hornets will play one year in NO and then they will be off to KC.

  20. Post Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    OK everyone, here's the latest news from Seattle!!! (very favourable for OKC, by the way).....

    SONICS AND STORM TO OKC!!!

    Rodeo, hockey favored for funding

    House approves tax subsidies for arena, Kent events center
    SEAN COCKERHAM
    The News Tribune

    Bull riding and junior hockey are trouncing the Seattle SuperSonics and NASCAR in the competition for state tax dollars.


    The state House on Wednesday approved tax subsidies for a proposed rodeo arena in Lewis County and an events center in Kent that would host the Seattle Thunderbirds hockey team.

    The projects now go to the state Senate, where they appear to have a lot of support.

    Bills to provide much larger public financing packages for a Sonics arena and NASCAR racetrack, meanwhile, are languishing.

    In fact, lawmakers combined the rodeo and Kent Events Center projects into a single bill with a title that is designed to ensure nobody tries to piggyback the Sonics arena on it.

    It is now an "act related to financing regional centers with seating capacities of less than ten thousand." The proposed Sonics arena in Renton would seat 18,000. The NASCAR track near Bremerton would seat 80,000.

    Backers of the equestrian center in Lewis County and the Kent arena went to great lengths to separate themselves from the bigger professional sports stadium proposals.

    "We are not Sonics, we are not NASCAR, we are local people," said Larry Hewitt, a Centralia businessman who is leading the push for a 7,000-seat domed equestrian center in Lewis County.

    Hewitt had originally talked about public financing for two-thirds of an arena expected to cost between $70 million and $80 million. But he said in an interview that the plan now is for mostly private financing.

    Unnamed investors

    Hewitt said investors - he declined to name them - are interested in the equestrian center project. He said they are keeping a close eye on the bill the House passed Wednesday.

    "We hope it will galvanize some of this investment money," he said.

    Legislative staff estimates the bill would provide $8 million in state tax dollars for the equestrian center over the 25 years of the bonds.

    The money would come by providing the project with a percentage of the state sales tax collected in Lewis County. Local government officials would have to agree, and they're expected to do so.

    Rep. Gary Alexander, who represents the area, has also requested $30 million in tax dollars for the arena. That would come from the state construction project.

    "The odds of getting that are slim," said Alexander, R-Olympia.

    Alexander said he hopes the bill passed Wednesday would be enough. The plan is to build the Southwest Regional Equestrian Center along Interstate 5 at Exit 63 in Winlock.

    Backers said the facility would have events such as pro rodeo and bull riding, national equestrian shows, conventions and concerts. They hope to attract hotel and restaurant chains to set up at the site some 60 miles south of Tacoma.

    Supporters argue it would help with the local economy damaged by last year's closure of the TransAlta coal mine near Centralia.

    The proposed Kent Events Center would help that city's emphasis on rejuvenating its downtown core, said state Rep. Pat Sullivan.

    "I want to emphasize this facility is not a facility that can host professional sports," the Covington Democrat said in a speech on the House floor.

    The Seattle Thunderbirds, a team in the developmental Western Hockey League, would be the anchor tenant for the arena. The team now plays its home games in KeyArena, the same place the Sonics are trying to ditch.

    The plan is for the 6,000-seat events center to also host concerts, graduations and the like. It's expected to cost more than $67 million. Municipal bonds would finance much of it. House Bill 2388

    Proposes tax subsidies for a proposed rodeo arena in Lewis County and an events center in Kent that would host the Seattle Thunderbirds hockey team.


    Tacoma News Tribune
    Oklahoma City, the RENAISSANCE CITY!

  21. Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    You all may not be keenly aware of the political scene up here, but there has been a battle of sorts for state dollars between the BIG boys of professional sports vs. the local little boys of minor leagues.

    It looks like the minor league little boys are winning, as the state is about to approve funding for their projects - and have even combined and renamed their bill so as not to confuse or provide any funding whatsoever for the SONICS.

    And with the legislative session ending in 4 weeks (mid-Apr), I see nothing but excitement coming to the Oklahoma City Metropolitan Area. If the legislature does not approve funding - there is NO WAY a new arena will be built here in the Seattle area for the SONICS. The arena depends upon some $300M+ worth of public funding - and only the state would be able to appropriate those dollars.

    King County (Seattle's county) has insisted that any funding for the new arena would require King County voter approval for the county to participate and allocate the funding. So, even IF the state were to allocate funding to the SONICS (less than 1% chance of this), it would still fail because King County would require a vote - something Bennett has vowed not to seek due to his knowledge that such a vote would FAIL MISERABLY. So, regardless of legislative approval - no arena for King County. And like I said, I am almost 100% sure the state will NOT approve the plan anyways.

    The ONLY hope for Bennett is to 1) convince some local billionaire or consortium to privately fund the arena OR 2) move the arena to Tacoma/Pierce County or Everett/Snohomish County.

    Bill Gates is the obvious answer - since he's the richest person in the world and probably could care less about $500M. BUT, Gates hates sports and he donates his support to educational and charatable sources. He will NOT support a new arena, esp one that isnt in Seattle.

    Paul Allen also lives here and is a billionaire. But he already owns the Seattle Seahawks of the NFL and was principle in building the Qwest Field stadium in Seattle. He also owns the Portland Trailblazers of the NBA and is principle in building their Rose Quarter comples.

    Howard Schultz is another billionaire, CEO and founder of Starbucks; but he was the OLD owner of the SONICS and sold the teams to Bennett. I doubt he'd be interested in wasting any more of his dough in the teams, since he made with a profit in selling.

    The list gets shorter and shorter - as those above are the main players here with the dollars to invest without caring so much about making a return. A consortium could be developed but it would take a lot of time to develop synergy and I doubt you would get enough local high rollers to support since they also would not support public funding for the arena. Why would they shell out their personal money if they dont even want to extend the existing tax under the public plan.

    So, the ONLY other option would be to approach the other Seattle/Tacoma CSA cities - Tacoma and Everett. This however would not be successful for the following reasons:

    1) Tacoma is the obvious big player here from a municipal standpoint, but they already have the TacomaDome. It once played host to the SONICS but is not an NBA amenity arena. It could be renovated but I doubt it since it is happy with being a multipurpose facility. I doubt they would give up the flexible seating arrangements in favour of suites, permanent seats, and high end amenities. It could happen, and I think this is probably the BEST chance - but once again, who will pay for it?

    2) Everett is the fourth largest player here (after Seattle, Tacoma, and Bellevue) and is home to the north county - Snohomish. Everett could not support a new arena because they JUST finished building the Everett Events Center in downtown. It is the anchor of their renaissance and they already have a slate of minor league teams supporting it. The arena would be way too small for the NBA and there is NO WAY the city would build another one for the SONICS. No chance in Everett.

    So, in a nutshell, unless the SONICS can convince the WA legislature to fund their $320M+ funding request in the next 3 weeks AND convince King County voters to pass a subsequent vote required by KINGCO, OR convince Tacoma to open the TacomaDome for redevelopment and find some way to fund that (think $250M+) ....

    Then I imagine that Bennett will go to NY and approach the NBA board offering to move the teams. He would submit the results of the WA State funding failure as well as the OKC Hornets success. With the Hornets reluctantly forced to return full-time to New Orleans next year (if that is truly "a go .."), Bennett will ask to move the teams to Oklahoma City and its Ford Center, for the 2007-2008 season.

    Guys, you may not realize this - but Seattle knows this is the last year. Key Arena does not EVEN come close to selling out now - even with the Miami Heat in town, they sold only 15,000 seats (out of 17,000+). The Sonics are offering seats for $5.00 and other promotional gimmicks - to keep the support, but it isnt working.

    I think, given this as well as OUR apathy against the Sonics and that overpriced and un-necessary arena in a suburb crap, Bennett will approach the NBA board around playoff time and under special session - he will ask to move the teams. Why should Bennett be "forced" to lose money on Key Arena next year, on the lack of Fan support in the Seattle Area, and the obvious apathy for the Sonics that exist up here (aside from die-hard fans), when OKC has proven to be a major league NBA market - Stern's Number 1 new market - that would "easily" sell out season tix if the marketing started by June (aka Hornets), not to mention Bennett is from OKC, and OKC's strong corporate support.

    I think, given those circumstances Bennett will be allowed to buy-out the Key Arena lease then quickly update the Sonics uniforms and marketing strategy towards an OKC audience. Hopefully, the SONICS will throw-in some regional exhibition games in Tulsa, Wichita, Little Rock, ABQ, and KC - to drum up regional support/concatchment. I think then, they would be able to sell games to those markets via cable and make-up for OKC's rather "small" core market when compared to its peers. If we could dump in Tulsa, Wichita and KS, West TX, AR, and ABQ into concatchment - that would give the OKC SONICS some 6M person area (3M+ cable audience) - certainly would be the market that would support the team. At that point, you would have EVERY element in place to support a major league team for the long haul (local ownership strong on community, strong corporate support, strong fan base, mid-spec NBA arena (that could/should be upgraded), and cable sales market in excess of 2M in concatchment).

    Women's basketball is no joke in OKC either, but I'd imagine the Storm would play its final season in Seattle and move to OKC in 2008. OU Basketball (women) is on top of the Big XII - can you imagine the support OKC would give to the STORM when local OU players graduate???

    Courtney Paris, star center and hot Native American point guard Jenna Plumley (among other OU greats) playing for the Oklahoma City STORM anyone ....... We'd have the top attendance in the WNBA - and pro sports all year round in downtown OKC. ....

    Good news, great news for Oklahoma City and its major league sports legacy.
    Oklahoma City, the RENAISSANCE CITY!

  22. #147

    Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    Thanks again for your insight hotrod....Very detailed

    Guess the best us in OK can hope for is no news out of Washington over the next month

  23. Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    'no "positive" news about the Seattle Sonics' from WA state, you mean....

    neg press from Seattle please................

    Oklahoma City, the RENAISSANCE CITY!

  24. #149

    Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    thanks for the Seattle updates as always HOT ROD

  25. Default Re: HUGE NEWS! Clay Bennett & Co. buy Supersonics!

    no problem METRO (et al), Ill keep the neg press comin'. What are friends for.?

    There's lots of it up here, the Sonics' losing is only helping OKC's cause. Even booster SONIC fans know the teams will move to OKC, many even think like us - that it will happen this year. Some are holding out and pitching dirt on OKC/jealous - but they are mostly trying to "blame" someone instead of looking at it from a realistic point-of-view.

    I think Bennett has given Seattle WAY TOO MUCH respect and consideration with regard to the Sonics. How many other ownership groups will sit and lose money in a market just to "save face" or "save the face of the market it's leaving".??

    Hopefully OKC can get one of the top draft pix for 2007.
    Oklahoma City, the RENAISSANCE CITY!

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