The Sonics issued a press release Wednesday announcing that they are entertaining offers from prospective buyers.
In an even juicier bit, Schultz & Co. had to eat crow regarding Howie's ultimatum of "build it or we'll leave," issued on February 1st. According to the statement yesterday, "This ownership group has no interest in owning professional basketball franchises outside the state of Washington." Ah, yes, the sweet smell of failure.
Ironically, with the Blazers also up for sale, the two teams will now compete for buyers, meaning the "woe is me" campaigns will have to be curtailed, inasmuch as no buyer wants to hear the lousy deal he's getting. It's expected the Sonics could fetch anywhere from $300 to $400 million on the open market, which would help defray the "losses" Schultz' group has incurred.