18 July 2006
The door revolves
If the Hornets return to New Orleans, as everyone involved swears they will, this is the most likely spot the Sonics will end up: team support here is running well beyond original expectations, and NBA Commissioner David Stern would much prefer to have another team move here than to deal with angry Hornets fans in Louisiana.
[Clay] Bennett and Oklahoma Professional Sports LLC, the ad hoc business consortium that backed Oklahoma City's bid to host the Hornets from 2005 through 2007, have set up a corporation to seek an NBA franchise for the city, be it the Hornets if they stay, or another team should they go. Meanwhile in Seattle, [Howard] Schultz is making noises about selling out.
An Oklahoma City investor group led by Clay Bennett has reached agreement to purchase the Seattle SuperSonics for a reported $350 million, according to multiple sources. Sources in Seattle confirmed a Tuesday afternoon press conference to announce the sale, and the Seattle Times and the Fox Sports Northwest both reported the purchase.
The Seattle Times story is here.
Now if I could just predict the farging stock market.Posted at 3:55 PM to Net Proceeds