GP Wants the Sonics Back

A couple of stories this morning about Gary Payton's comments regarding the return of the Sonics to Seattle.

The most noteworthy quote comes courtesy of the Associated Press:

"I think before 2011 a team will be here," Payton said.

The SSS HOFer mentioned he had been in contact with former Sonics and Seattle City Council contender James Donaldson about co-ownership of a potential team, as well as other former NBA players. Sadly, Bart Kofoed could not be reached for comment in time for the story.

Donaldson, however, took a less rosy view of Payton's timeline. "Probably within the next 5-10 years realistically," Donaldson told the Times' Percy Allen. "Three years might be overly optimistic unless everything really lines up and plays out just perfectly."

Possibilities

For of all sad words of tongue or pen,

The saddest are these: `It might have been!`

—John Greenleaf Whittaker

It’s amazing how often timing drastically alters events which, in hindsight, seemed inevitable.

Take, for example, World War I. The causes of the war may be (and has been) argued at length, but were it not for the assassination of Archduke Ferdinand by the Black Hand, it is entirely possible that the events which transpired a century ago, claiming the lives of millions, may never have occurred.

Likewise, the movement of the Sonics to Oklahoma City. A couple of 20/20 hindsight observations:

- What if this economic crisis had occurred two years ago, when Howard Schultz was looking to sell the team? Do you think Aubrey McClendon would be as interested in buying a money-losing proposition when he was fresh off selling shares for which he paid $50 for the rock-bottom price of $15 or $16? I think not.

And, more importantly, as Brian Robinson points out at SonicsCentral:

- What if Greg Nickels had decided to stick his promise of not caving in to the Sonics, regardless of what they offered? Going into this summer, with natural gas prices and his stock value soaring, Aubrey McClendon was flush with cash, as were Clay Bennett and Tom Ward.

But now, after the debacle of the past three months? How likely would those Triplets of Terror be willing to stick out two years of absolutely disastrous revenues in Seattle for the promise of returning to Oklahoma City in 2010?

Granted, these recent events have not taken place in a vacuum. The hardships which affect Aubrey McClendon would also affect the city’s ability to come up with the hundreds of millions of dollars necessary to build an improved KeyArena. And I can’t be certain, nor can anyone else, as to how the past three months would change PBC’s motivations. But only a fool would think it would not, at the very least, give a bit of leverage to the City of Seattle.

The Hits Keep on Comin'

Am I the only one thinking that perhaps karma exists after all?

You've read plenty on this site in the past few weeks about our friend Aubrey McClendon and the financial 3-card monty he's been playing with Chesapeake Energy. Now, it's really starting to hit the fan. From the AP:

Chesapeake Energy CEO forced to sell company stock

Aubrey K. McClendon, chief executive of Chesapeake Energy Corp., has sold the bulk of his stock in the company over the past three days in order to meet margin loan calls, the company said Friday.

The company did not disclose the size of the stock sale, pending the filing of documents with the Securities and Exchange Commission.

"I am very disappointed to have been required to sell substantially all of my shares of Chesapeake," McClendon said in a news release. "These involuntary and unexpected sales were precipitated by the extraordinary circumstances of the worldwide financial crisis."

Extraordinary is just about hitting the nail on the ol' head, I would venture. Remember how I wrote earlier that McClendon's decrease in net worth was on paper only, that the dip (or plummet) in share price did not necessarily mean he was losing money?

Yeah, well, that went out the window over the past 3 days. McClendon bought millions of shares this summer at $55 a pop, and just got finished selling them for about $17 each.

I don't speak fluent Oklahoman, but does the phrase "hurtin' for certain" apply here?

[Thanks to Alan for the tip.]