6
Jul
Supersonics Headed to Oklahoma City
Posted in NBA Basketball by Sportsbook Bonus on July 6th, 2008
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The City of Seattle and the Oklahoma City-based owners of the Seattle SuperSonics National Basketball Association franchise made the announcement that they have reached a settlement that will allow the team to break their lease and play their games in Oklahoma starting in November.
PBC will first pay $45 million to the City of Seattle and possibly another $30 million in five years. The contingency will not be paid if another NBA team settles in Seattle.
Another element of the settlement is that the franchise will not use the name Sonics or SuperSonics, the team logo or colors. A new name, logo and colors is to be announced soon.