I saw this first on the Daily Oklahoman, and my first thought was, "Well, there isn't a grain of salt big enough to take with that sketchy story." A settlement? Sure, it's nice to ponder, but the attribution in that story was rather light.
Now, however, we have some more information. From The Seattle Times:
"It looks like [a settlement], but I'm afraid what little I know is sworn to secrecy until after the mayor's press conference," said [Seattle City Councilmember Jean] Godden.
From the PI:
"A spokesperson for City Attorney Tom Carr said their office was not aware of [the settlement]and was not planning any comment until a scheduled 5 p.m. press conference by Mayor Greg Nickels."
Wait and see.
Seattle Times has story on front page
@ 2:30PM. Sonics, city settle lawsuit. Councilwoman Godden quoted as saying it looks like there's a settlement.
Saw that; doesn't look like they have any additional information, although perhaps more 'unnamed' officials are providing verification to the reporter(s).
They are reporting here in OKC that there is supposedly a settlement - but nothing is confirmed, of course ... Clay Bennett is flying back to OKC now ... Clay is giving a press conference at 7:00 pm Central Time.
Which is the same time as the press conference scheduled by Seattle Mayor Greg Nickels.
Thank goodness ESPN is all over this story.
Wait. No, they're talking about Brett Favre thinking about returning to the Green Bay Packers.
Nothing to see there, move along.
If a settlement involved Seattle keeping the Sonics and PBC paying the City $25 Million for the Key Arena lease and other damages, Ballmer buying the Sonics for $300 Million or so, and David Stern taking care of his buddy Clay with an expansion team or a Memphis, then I'm fine with that. That would be a great settlement. The Mayor cannot give away the Sonics. Call Mayor Nickels at 206-684-4000 and ask them if there is any settlement. Keep your fingers crossed. Pray a little.
Mayor Nickels Press Conference at 5:00PM. Judge Pechman's ruling now supposed to be at 4:15PM.
the ruling is that there was a settlement.
FanHouse said that it looks like a settlement has been reached that will pay the city a big amount of money to leave Seattle and allow the city to keep the SuperSonics moniker.
Also, it looks like no promise was made that a team would need to replace them. HOWEVER, there is a good chance that there would be a team within the next two years.
If Pechman makes an announcement further delaying this thing I think I'm going to scream.
Zendoc - where did you read/hear/see that it was being delayed to 4.15?
According to the Times, Howard Schultz will NOT be dropping his lawsuit against the team, despite reports to the contrary.
Expect to hear the phrase "despite reports to the contrary ..."
alot today (that last part got cut off).
Just to make things clear, Mayor Nickels isn't and indeed can not give away the Sonics. Clay Bennett paid $350 million for the team. That being the case, I can't understand why the majority of Sonics fans in Seattle insist that the team is being/has been stolen. You can't thieve what you legally own. Not trying to rile anyone up, I can understand a massive sense of loss/anger. It just bugs me that the entirety of the animosity of placed on Bennett. If you're going to be angry, be angry at your (Seattle/WA State) politicians for calling Bennett's bluff on a new arena deal.
from the Times
Pechman left it to the parties to disclose the terms but a source said the two sides have been discussing a deal that would involve the Sonics leaving town for Oklahoma City in exchange for up to $75 million payment to the city.
Sonics owner Clay Bennett may not have to pay the entire amount if the city gets another team, the source said.
Delightful. They'll be putting some economic pressure on Clay to lead the charge in getting a team to move to Seattle.
Well, while we didn't feel like making any effort to be successful in Seattle...I think it's a wonderful place and deserves a team--just not the Sonics, because they're ours, for real now."--Clay Bennett, January 2009.
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