Tuesday August 19, 2008
OKLAHOMA CITY (AP) -- Clay Bennett's ownership group has reached
a final settlement with the city of Seattle allowing the former
SuperSonics franchise to move to Oklahoma City. Attorneys filed a document Tuesday in Seattle federal court noting that the parties had agreed to pay their own court costs after reaching the settlement.
Bennett announced last month that a settlement was being
negotiated that would involve him making a payment of up to $75
million to Seattle to get out of the final two years of a lease at
At that time, he had expected the settlement to be finalized by
Aug. 1. Instead, a time extension was sought from the court and
terms weren't reached until now.
(Copyright 2008 by The Associated Press. All Rights Reserved.)