SEATTLE - The City of Seattle and the owners of the SuperSonics have reached
a settlement on the KeyArena lease lawsuit, according to the judge who heard
Judge Marsha Pechman confirmed the settlement in an online posting
Citing a City Hall source, the SeattleTimes reports the SuperSonics will
leave Seattle as part of the agreement. In exchange, the city would receive
up to $75 million -- less if the city gets another NBA team.
Both Mayor Greg Nickels and Sonics owners are set to hold simultaneous press
conferences at 5 p.m. More details are expected then.
"To have a bad relationship between the city and the tenants of KeyArena,
the Sonics, playing there for two more years. that would be a bad scenario,"
said former Sonic James Donaldson. "I think a settlement probably lends to
the team moving on to Oklahoma City pretty quickly."
The co-founders of Save Our Sonics say they were told to meet with Mayor
Greg Nickels and Deputy Mayor Tim Ceis at 4:15 p.m. for what was described
as an urgent meeting.