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07/07/08
One would presume that when a city sues a sports team owner to try to force the team to stay, there's bad blood between them. And indeed, there was. This story goes way back to when Howard Schultz owned the Sonics. Schultz is the chairman of Starbucks. He sold the team to a group of investors led by Clay Bennett from Oklahoma.
Bennett had said he didn't want to move the team but shortly thereafter started that in motion. Eventually the city sued to keep the team in its lease but finally settled. The terms are pretty simple: the city of Seattle gets $45 million, with the possibility of an additional $30 million in 2013. That part of the deal seems unlikely, so it looks like the lawyers managed to weasel the SuperSonics away from the fans of Seattle.
On the bright side — what there is of it — the city of Seattle also gets to keep the SuperSonics name and history. But that's it. And most likely, professional basketball has left the area for a long time.
Good luck to the Seattle fans!
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