Seattle SuperSonics owners told the NBA they expect to lose $60.9 million to $64.9 million during the next two years if forced to stay in Seattle, but believe they can turn an $18.8 million profit if allowed to relocate to Oklahoma City.
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Sonics Chairman Clay Bennett confirmed the projections in a sworn deposition — most of which was made public for the first time Friday after previously having been withheld as confidential.
Bennett testified he has the financial ability to withstand the projected losses, but added "it's certainly no fun losing a lot of money.”
Bennett's testimony was taken in connection with a federal lawsuit filed by the city of Seattle in an effort to force the team to play out the remaining two years on a 15-year lease at Seattle's KeyArena.
The Sonics' Oklahoma owners have asked the judge to allow them to buy their way out of the lease so they can move to Oklahoma City immediately.
"This is a losing proposition on all sides,” Bennett stated.
The trial is scheduled to begin June 16 in Seattle.
Much of Bennett's testimony centered on whether the Sonics' Oklahoma owners fulfilled a written promise to spend at least a year making a good faith effort to keep the team in the Seattle area, before turning their attention elsewhere.
Bennett repeatedly insisted they did.
He was quizzed about some e-mails and news articles where various owners mentioned a potential move to Oklahoma City.
One of the most controversial remarks was made by fellow owner Aubrey McClendon, who was fined $250,000 by the NBA in August after telling an Oklahoma City business newspaper, "We didn't buy the team to keep it in Seattle; we hoped to come here.”
"I was shocked, absolutely shocked,” Bennett testified. "I was upset by it and it was difficult for me because it did not represent what I had spent a great amount of time working on and focused on, and I felt undermined my efforts and being a good friend, it was even worse, affecting another close associate, the commissioner, was even worse. ... It was a very difficult experience for me.”
Bennett wrote a subsequent e-mail to NBA Commissioner David Stern in which he said, "As absolutely remarkable as it may seem, Aubrey and I have NEVER discussed moving the Sonics to Oklahoma City nor have I discussed it with ANY other member of our ownership group.”
Seattle's attorney questioned the truth of the statement, in light of e-mails in which Oklahoma City was mentioned.
"Well, I think what I'm referring to here is never in terms of a bona fide, full-blown process to move or even a decision to move,” Bennett said. "Of course we've talked about options, as we did from the beginning.”
Some Seattle residents have questioned whether the Bennett group's failure to bring Seattle investors into their group was a sign they never intended to keep the team in Seattle.
Bennett testified the possibility of bringing in Seattle investors was discussed, but it was decided that might actually hinder the owners' effort to obtain public funding for an arena in the Seattle area because the previous ownership group of 58 local people had failed in two previous attempts.
Bennett said the Oklahoma owners believed they "could bring new focus, new energy, new perspective to the process and that for the time being, it makes sense to keep our group put together and keep it small. We knew this would be a dynamic process with a lot of decisions to be made and so ... the tighter the better.”
If successful, the Oklahoma owners felt they could bring in Seattle investors later, he said.
Coming from Oklahoma City, which strongly supported the temporary hosting of the New Orleans Hornets after Hurricane Katrina, Bennett expressed surprise at the lack of similar support for the Sonics by Seattle residents, politicians and news media.
"What I will naively admit to was our shocked reaction to the media response to the announcement,” Bennett said of the reaction to the announcement that Oklahoma investors would be purchasing the team and pursuing a world-class multipurpose facility in the Seattle area. "And so we immediately began to think... this is not being met with the excitement and pleasure that we might have thought it would be.”
Bennett said he thought people would view the Sonics as a valuable asset to the state of Washington.
"I just assumed they were,” he said. "I guess as a fan of professional sports and especially the NBA, I assumed they would be highly valued and important to the broad community and I now understand that there's a very diverse population that has very varied interests and it may not be as broadly powerful as I suspected at that time.”
"This deal sucks,” Bennett wrote in an e-mail to a Sonics lobbyist, after efforts to obtain public funding to support a new arena became bogged down in the Washington Legislature.
Bennett described the blunt comment as "an emotional response to getting bogged down in the process.”
He said Washington's governor told him that most of the legislative leadership had little interest in his project, except for the Washington House speaker "who is against it.”
Seattle's attorney questioned Bennett about whether the Sonics' efforts to obtain public funding for a $500 million multipurpose facility failed because of the owners' unwillingness to commit personal money to the project.
"We committed to $100 million,” Bennett said, indicating that part of that private money would have come from the sale of "founding sponsorships” and part from the owners' personal cash.
Seattle's attorney also questioned Bennett about why Ed Evans, former president of Oklahoma City-based Dobson Communications, dropped out of the ownership group after helping negotiate the purchase of the team.
The attorney asked if it wasn't true that Evans dropped out after being told during a private jet ride to a news conference to announce the purchase of the team that Evans would not be the operating manager of the Sonics and that Bennett would be the spokesman.
"I can't recall that it was at that time,” Bennett said. "I can't recall when it was. It was in this time frame but I don't recall specifically being on the flight.”
Bennett summed up the owners' reasons for wanting to move from Seattle to Oklahoma City as follows:
"It's become ugly.... It's become a very negative element in the lives of many people.... We have met our obligations to attempt to have a successor venue developed. We've failed in our efforts....We have a binding obligation now with the city of Oklahoma City. So there are two years left to be together in Seattle and my hope is that we can find a way to come to some mutually beneficial position that brings certainty and stability to the many that are involved in this.”
The Sonics owners are willing to pay Seattle enough money to improve KeyArena for other purposes in exchange for terminating the lease two years early, he said.
"That's the notion and that's the proposition,” he said. "It's nothing more than that.”
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Roger wrote: "OKC just isn't a strong enough market right now to pull off a strong lease ..Hopefully by the time the next one comes around we will be in a much better position..." WOW, why are you saying that? This is the strongest position the City will ever be in. We had two teams that wanted to relocate here (Hornets and Sonics). Bennett admitted they expect to make a profit here (not the we'll be happy to break even lie). The Mayor said that the City learned a lot from the negotiations with the Hornets/NBA and the City was now "sophisticated". That sophistication didn't do a whole lot of good when the City approached the lease with the Sonics as a "break-even philosophy". We approached the lease with the Hornets with a profit philosophy -- after the profit guarantee to the Hornets was reached, and after the City's expenses were paid for relocation etc, the City and the private investors (Bennett) got over a million for our trouble. With the Sonics, the City gets nothing. Well, maybe after the 193.8 years to "break even" on the Ford renovations and 210 years to "break even" on the practice facility. But then again we have forever lost the naming rights money (probably worth a minimum of $90 million). Please explain how this is "Big League thinking"?
Robert, that's not very nice. Maybe you should take a deep breath, hug a tree and drink some chai. Seattle doesn't care about the Sonics, never has. If Seattle was smart, they'd settle with PBC, so Seattle can retain the history, team name, and colors. Are you to stupid to see that? Once the Sonics leave, Seattle will never see another basketball team. Sorry. : (
"Said it before and will say it again, the City's approach the the lease was not "Big League" thinking at all."...OKC just isn't a strong enough market right now to pull off a strong lease ..Hopefully by the time the next one comes around we will be in a much better position...Bennett and crew have some love for their hometown for sure but they dang sure weren't going to move down 30 market spots and get a crap lease to boot
"Don't dispute that at all, so why then won't they contribute anything towards the renovations or the practice facility?"...Probably because they have donated 100's of millions of dollars over the years and appreciate you pitching in the equivalent of a tank of gas
John do you read, Bennett said the 100 million from the onwership group would come from ticket-surcharges and ad revenue with a litt from the onwership group. Ticket surcharges and ad revenue isn't any of Bennett's money. Maybe you should try reading slower so you understand what you are reading. Gregg no one cares what you think or say either.
Doesn't anyone remember Bennett saying repeatedly that he did not commit any of his own money to a new Seattle arena??? Now that he's under oath and having to prove good faith, he's saying something else - "Bennett continually said his group was willing to cover a $100 million gap between public funding and the estimated $500 million for the Renton proposal" according to a Seattle paper. If that's true Clayboy, why didn't you offer to chip in at least a couple of hundred bucks to renovate the Ford Center? Oklahoma City taxpayers got screwed. There is no defense, none whatsoever, to Bennett's actions, either up there or down here. Get ready Oklahomans, this is just the beginning.
Of course he will make money in OKC. The lease in Seattle is close to 7 million a year, in OKC it's 1.6 million per year (the lowest rent of any NBA team). In Seattle the city gets the money from the naming rights, in OKC he gives the city around 500K. He will make money on the backs of OKC taxpayers. Sorry Bennett we in Seattle are smarter then to give you a blank check. Sorry OKC you will be stuck with the bill, and if the team loses and players won't want to live and play in OKC, Bennett and his group will blame you. They will keep tellign you your not doing enough to support the team and they will ask for bigger arena and more tax breaks. The only losers in this are basketball fans in both cities!
After careful consideration, I have concluded that it will not matter if Tulsa jumps aboard or not. We will never see the team here. I know I said I could not wait to buy season tickets, but I have seen the light. It is now time for Oklahome City to embrace the Blazers hockey team. We aare to small to play with the big cities of america. That is just the facts and we all need to get used to it.
Roger wrote: "Trumps our $50 a year donations to a city owned arena which makes money off not only the center itself but the added business to the hotels, restaurants and retailers surrounding it" I agree with you, the City SHOULD get every dime of the profits off the events in the Ford since it is a City owned facility. The City SHOULD get the profits for the renegotiated naming rights to the City owned facility (but we gave $90 million away there alone, to a "tenant"). We SHOULD be looking at making at least as much off the deal DIRECTLY as we made with the Hornets (a temporary team where we had a profit sharing agreement). Instead the City approached the lease with a "break-even" philosophy. Instead of making at least a million a year, we are looking at MAYBE $100 thousand (according to the City Manager) and no profit sharing agreement like we had with the Hornets. Said it before and will say it again, the City's approach the the lease was not "Big League" thinking at all.
Jill wrote: "Regardless, we didn't ask him to kick anything in here." That's part of the problem Jill, why didn't we ask them to kick in anything? Know Roger likes to ignore the facts, but several articles in this paper said the nearly all of the improvements/cost of the improvements were specific to the NBA/Team itself or designed to enhance the revenue for the NBA/Team.
Roger wrote: "I believe he and the rest of the owners have donated hundreds of millions over the years to the region" Don't dispute that at all, so why then won't they contribute anything towards the renovations or the practice facility? Why, because they got the taxpayers to do it for them. It isn't a surprise really, Bennett was part of the Spurs ownership group that had their arena heavily public financed. The Hornets (that he tried to buy controlling interest in) arena is heavily public financed. The Seattle SOnics arena is also heavily public financed, so why not expect the same here in OKC? Even though the Maor contends he never had a "plan B" if the vote failed, I really don't see Bennett as being that stupid (he has had all sorts of "plan Bs". If the vote had failed they would have come up with the money out of their own pockets or some sort of scheme that they were floating in Seattle for "their" part of the alleged $100 million.
Philip wrote: "A 10 million dollar profit per year would represent a 2% return on their investment. I call that pretty close to break even especially considering that with these guys track records they could have easily gotten a much better ROI by placing their money elsewhere" LMAO Like the article not to long ago where Aubrey was asked "How to make $100 thousand?" His answer, you start out with a million (and lose it) until you have only $100 thousand left. LOL
If arena advertising would ordinarily go to the team, then it doesn't really matter if that's where the money was coming from. Regardless, we didn't ask him to kick anything in here. And when you consider that construction costs here are probably about a third of what they are in Seattle, looking at comparable housing prices, the $200 million spent my Oklahoma City on it's arena is probably more than the $300 million being asked of the legislature in Washington.
Jill, www.okcthunderfans.com - Jun 9, 2008 12:50 AM
Patrick, this is from the Sports Business News 2/20/07 "Last Tuesday, Bennett visited the Washington (State) House, asking for $300 million in state funding, and $100 million from the City of Renton. Bennett is ready to kick-in $100 million." If you want, I can probably find a couple of other links to articles with similar information.
Jill, www.okcthunderfans.com - Jun 8, 2008 10:26 PM
"He will cash out later as he sells to Kansas City or somewhere"...No way of knowing that..Not every sports town has a traitor like Schultz in it..."Counting on help from an even smaller city, a hundred miles away is just grasping at straws"...Counting on it because it already happened when the Hornets were in town...No guessing necessary
"Seattle has lost money every year this decade"...Phillip, what trick does OKC have, a fraction the size of Seattle in every way...population and as important large corporate entities. A few hundred seats in the crummy part of an arena with newer bathrooms won't be the ticket. Counting on help from an even smaller city, a hundred miles away is just grasping at straws. Hell, Vancouver is just 140 miles away and that is another 4 million if you want to play that game. Bottom line is this is a millionaire's gamble, playing with other peoples money...yours. He will cash out later as he sells to Kansas City or somewhere. The fans will be the losers, as usual. Get used to the idea.
"He wont contribute a dime here (why should he when he can get the taxpayers to do it for him)?"...I believe he and the rest of the owners have donated hundreds of millions over the years to the region...Trumps our $50 a year donations to a city owned arena which makes money off not only the center itself but the added business to the hotels, restaurants and retailers surrounding it
"ROGER-you are referrng to the True Hoop blog which has covered this a lot. The "Sonics Move" section was just formatted just this week. Wait till the finals are over."...I have read many blogs from True Hoop covering this mess...Dedicated NBA fans follow that but that really doesn't amount to much on the national level...Any substantial coverage of this on CNN, Fox News, Time magazine, MSNBC, NY Times etc?...If not then as I said the nation could care less about the NBA and even less about this situation
R, please calm down, it sounds like you are the one doing the ranting: "...coming to complain about ANYTHING even when you have no basis or facts." Really, no facts?? I have posted my opinions/conclusions repeatedly on numerous threads based on the FACTS (the cut and paste stuff, often with links to the articles etc.) The cost Bennett is paying for the team is irrelevant as he paid the same cost no matter where the team is located. The City Ordinance that we voted on here had some language in it that sure made it sound like the City is going to be helping Bennett pay for the relocation costs and legal fees (could be why we have NEVER been given ANY sort of cost BREAKDOWN for the $100 million in improvements). Bennett himself told Sonics employees that the City would be paying for the relocation costs etc (afterwards he of course claimed he was speaking hypothetically). But why shouldn't he expect it, the City paid for the costs of the Hornets to relocate (Bennett was a part of the that deal too). You wrote: "...break it down for you, $350M purchase, $30M relo, $60M+ settlement/judgement to Seattle, $10M+ est. spent for the whole arena thing here, $$$ for legal expenses that I wont include" Then you also have to include in that breakdown the $90 million spent on the Ford to build it (designed and built to get an NBA or NHL team) + the $100 million in improvements (again for the Team) + the $20 million for exclusive use practice facility + the $90 million in naming rights to a building the team doesn't own + the $60 million in tax rebates from the State + the amount Bennett gets when he sells the team if we don't agree to build him a new $500 million plus arena in about 5 years (all at the taxpayers. expense of course).
R: He had already announced he was relocating the team here (at the end of the lease if not sooner) and had filed for relocation. The team willing to pay for the improvements (nothing made public until his legal issues were resolved or the lease was over). He wont contribute a dime here (why should he when he can get the taxpayers to do it for him)? He will make the same demands here that he is making in Seattle, more public funding for a new arena or they leave. He says NOW that they were going to contribute $100 million in Seattle (but never would commit to a number at the time and told his people to avoid the subject, certainly any specifics).
He says now that he would commit $100 million to the arena, where was that admission when he proposed the idea? Oh, that's right, he never said. It's easy to say after the fact that they would've put up money. How did he think that an arena would be approved without him committing to a figure he and the ownership group would throw in the kitty? That's right, he built the plan to fail... what a joke. It's so transparent.
It's really cute that there is someone with such a severe case of penis envy out there that they would aspire to be me instead of representing themselves through the pathetic existence that is their own lives. I guess imitation truly is the highest form of flattery.
Mr.Bennett created this boondogle himself(with Stern). He filed for relocation and negotiated with a different city while he had 3 years to go on this lease. Now he wants the judge to bail him out of the mess HE created. BOO HOO!
ROGER-you are referrng to the True Hoop blog which has covered this a lot. The "Sonics Move" section was just formatted just this week. Wait till the finals are over.
Stern was right. Seattle "pushed" the Sonics out. They have lost money there every year in this decade. They had the lowest revenues in the NBA last year and the second lowest the year before. They were in an impossible situation there and if anything the Bennett group is saving them from financial ruin. That's the ugly truth Seattle doesn't want to come to terms with.
I don't know how many stories there needs to be on this.. Do we really care if these millionaires are losing money?? I sure don't. OKC, you don't need this, the Sonics belong in Seattle where they have been supported for 41 years. We don't need the trouble of being held hostage by these millionaire schmucks.
PBC = Purdy Boy Clay .. and if/when PBC builds a new
$500 million 100% public funded arena in OKC he wants a sponsorship with Bengay, so that it can be called the BenGay Arena as a tribute to the Bennett/Gaylord
families ... lol
"Think this country doesnt care about the Sonics Saga? Two Sonics stories are listed on the ESPN NBA page"...Wow...The ESPN NBA page...Talk about a national outrage...Think the ESPN NBA page is right below Lifetime TV's website in daily hits
Jane..most of the people here won't look elsewhere beyond this paper for news about the Sonics, there is unbiased reporting out there and the truth hurts them so.....it's easy for them to read how "bright" the chances are to get the team here to OKC through this paper since CC's wife is related to the owners of this paper....at best, they've got a 2 year wait, and my guess is that Clay will tire of the fight long before then, sell the team and then blame Seattle when OKC calls in it's contract they made with him to bring a team to OKC...
Maybe Philip can get the rest of his 6th grade class to start saving their ice cream money and donate it to the "pathetic liars legal defense fund". I'd be willing to bet CC's wife has already slashed his allowance...
Think this country doesnt care about the Sonics Saga? Two Sonics stories are listed on the ESPN NBA page.- Listen in top 10 stories. Check out the comments. Guess which city True NBA fans support?? Thats right.
LMAO, david. I think the most awsoem line was thet one about coocking ppoo into a Snicke'sr bar! Ha ha ah that was pricelss! <---------- :D Honestly... I'm getting the feeling that the Seattlites who post here acting like they have all the knowledge in the world, and act as though this is all of Benetts fault, despite Schultz selling the team in the first place, which was a no-no, he just got antsy and couldn't demonstrate patience to sell to someone in Seattle, just shows elitism. So the perfect way to fight their smart ass attitudes, is to go with the flow and have fun with it. So I will humor them as long as they are here. Let them hear what they want to hear. Kill them with kindness right?
Maybe the Seattle types call him Clay Clay, but I call him that as well. I could call him lying, cheating, and deceiving scumbag, but it would take too long to type out each time...
Youre right Philip, that's what I seen seeyattle peeps call Clay. I did also see Gay-Clay at leest once to. An in that case, if youre from seeyattle, its like saying hello pot, this is kettle speaking... (#2 most gay city behind Sanfracisco)
Kwambelicious, Broken Arrow - Jun 7, 2008 11:36 AM
Isn't Clay Clay the name that Seattlites use for Bennett?....and why would someone from Yukon care what the residents of Seattle choose to do with Key arena?....wierd.
Screw Clay Clay...No remodel of Key, enforce the terms of the lease with Seattle and let him honor his agreements..otherwise, he just proves he's a liar and a cheat and a contract with him means nothing..you listening, City of OKC? How about you, Mick??
These Slade Gorton comments that were made, make it clear his goal is to reach a settlement before the trial starts......"It isn't over until the fat lady sings, and at this point, there is the trial date and the city's lawsuit to enforce the terms of the KeyArena lease," Gorton said. "I think the goal of the entire community, and certainly my goal, is to see whether some time between now and then there's a way to come up with a situation in which the controversy over the Sonics is settled in some fashion that Seattle can look forward to another NBA franchise."......."If we have a remodeled KeyArena or the promise of one that meets their requirements, and I'm convinced this remodel does, then I think we have a chance for another team," he said. "But the chances diminish rapidly after the trial is over. This present lease gives us leverage, so we need to get it done promptly."
Here, let me humor the elitist Seattlites who think everything around them is right, and everything stemming from OKC, including Benett is wrong... Ahem... THAT BENETT! HE IS LIKE, SUCH A LIAR AND EVERYTHING! Them Seattle folk were breaking the mold when God placed them here. They are incapable of doing wrong, re-wording anything, lying, and being shady in any regard. Their poo is so clean, I could cook it and turn it into a Snickers bar. Benett is so wrong when anything comes out of his mouth, and the Seattle politicians tried so hard to please the Seattle Sonics fans, because there are more of them, then those who want less traffic and better roads. Man Seattle is just blessed with the very presence of God, and everyone should move there and we can live like the people who lived in San Angeles in Demolition Man... Ahem... So there you have it peeps. The elitist Seattlites call foul again on Benett, despite everything he said. I guess its a case of eating out of the hand that feeds you (in other words politicians, the mayor, and Schultz up in Seattle are perfect so the populous will flock to them like Jesus's desciples did to him.)
You may be a sheep, Kevin but those of us who get out and vote don't generally feel that way. I don't see alot getting passed that the vast majority are opposed to. A new arena in Seattle would be a good example, where they can't get enough support to even get it on a ballot.
By the time the team gets here, the owners will have close to a half billion dollars invested. A 10 million dollar profit per year would represent a 2% return on their investment. I call that pretty close to break even especially considering that with these guys track records they could have easily gotten a much better ROI by placing their money elsewhere.
baaaa baaaa baaaa--we are like sheep in Okaysee. If even in a major election like presidentail elections we're doing good to get 50% of registered voters to turn out, we are like sheep asking to be fleeced. Get it on the ballot, and all one has to do to get measures passed is get all interested parties to vote in favor. baaa baaaaa...
Well, Philip...something you seem to have overlooked was the fact that CC and the Mayors office said they expected a "break even" at best for the team coming to OKC...Now, 9.4 million a year may not mean much to you(if your little mind can even comprehend such a number) but to me, thats far from "break even"....90%...and just WHERE do you come up with that number anyway?? Please explain, or are you just grabbing at straws in an attempt to bolster your weak position??
Once again, Larry and Paul have shown that even simple math completely baffles them. The article plainly states that 18.8 million dollars would be the anticipated profit for two years not one. But what else is new.....they've both been wrong about everything else up to this point. Larry still hasn't come to terms with the Ford Center vote. Considering that anyone who was the least bit opposed to that project simply had to take a few minutes to go vote, we can conclude that over 90% of OKC citizens gave at least "tacit" approval to that project.
I dare anyone to live any other place in America and not have something negative to say. Oklahoma isn't the best place by no means, but by far not the worst. These people want to complain about everything around them to make themselves feel better. I choose to go out and experience what is around me and make the best out of it. I agree that yes Clay went about this the wrong way completely but he is setting himself up to loose money to get a team here. Aubrey has helped fund several projects, including the boathouse and helping to get rowing into the city. Again, I think this NBA deal could have gone a complete different, more positive direction. However, I put partial blame on Stern, as I feel he was the behind the scenes man all along. Say what you want about using public money, we needed to upgrade the Ford Center regardless. Now, once the team is established and they want more, then yes I'd expect that they would throw some money into it. But even with Tulsa's new arena, in order to remain competitive with other markets in getting events, the Ford Center needed it.
Yes, R, we have no facts, like how Clay buffaloed the city into believing that bringing the team here would be a break even deal from year to year, no mention of the 18.8 million a year profit he spoke of yesterday in Seattle...he was either lying yesterday, or lying before the vote...and then that brings up the point of the Mayor here and the city council, either they knew he was lying then and went along with it, or they got lied to themselves back before the vote and should be outraged, not for themselves, but for the citizens of OKC. Either way you look at it, credibility on Clay Clays part, or on CC's AND the Mayors office combined is severely damaged. Nothing like being a straight up liar in order to get what you want, eh? Just another day of typical antics in Oklahoma.....
Hey "R" in Seattle...why don't you come on down here and kiss my "naysayer" anyway? You sound like you're pretty good at it, probably have been paying close attention to how Clay Clay does it, right??
Larry, I think you and Paul Yukon are Naysayers - coming to complain about ANYTHING even when you have no basis or facts. Stop copying and pasting and try to comprehend what Bennett is doing for OKC. Right or Wrong (from our Seattle prospective) you must admit that he loves his hometown.
he had to commit to 100M in Seattle and NOT commit to anything in OKC, YET. The team is still here in Seattle, so wouldn't it be really interesting if he committed to FUNDING OKC while he's still here. Larry, sometimes I wonder about your logic or lack thereof. Im positive Bennett will fund the next arena and/or other enhancements for OKC once the team MOVES THERE! Get it? Yet while the team is here, Bennett has to say he would fund part of the arena HERE. Lest you forget, Bennett still will be paying for WAY MORE to get OKC the Sonics than OKC will pay - so don't even go there. Im not necessarily for or against, I just hate it when people get on here ranting (looking stupid - no offense) when they clearly don't know what they are talking about. Remember??? the Renton Arena would ahve cost $500M. Is OKC building a $500M arena? Is OKC being asked for ANY funds to secure and move the team to OKC? Yet this will surely cost Bennett $450M+ (break it down for you, $350M purchase, $30M relo, $60M+ settlement/judgement to Seattle, $10M+ est. spent for the whole arena thing here, $$$ for legal expenses that I wont include). I think, instead of being an ignorant Okie set out to spite efforts to make your city better, you should understand what these people are going thru before you get on sounding worse than these fanatics up here. Im sure they would 'share' some of the $18.8M profit with OKC in the form of lower ticket prices - I mean, they are bending over backwards to get you a team. Idiot. We all up here wish somebody would do that for us! Im not saying there's no scrutiny, but you of all people need to be thankful. That goes for Paul Yukon as well.
Bennett said : "...they can turn an $18.8 million profit if allowed to relocate to Oklahoma City" Big difference from the teams previous statement that they would be "thrilled to break even" in OKC (part of the reasoning behind the taxpayers paying for the NBA/Team upgrades). An obvious mis-truth at the time but even more obvious now. Bennett now claims they committed to contributing $100 million in Seattle, yet not a dime here. But I am sure if the vote had failed, somehow they would have been able to come up with the $100 million for the upgrades to the Ford (ooops $100M, the same amount they were willing to contribute in Seattle!). And one years profits would just about cover the cost of the $20M practice facility.
Pretrial motions for Seattle lawsuit against Sonics
SEATTLE — A judge in Seattle says she will rule Monday on motions in the city's lawsuit that seeks to prevent the NBA's SuperSonics from relocating to Oklahoma City.
U.S. District Judge Marsha Pechman held a hearing Friday to rule on pretrial motions regarding evidence, arguments and witnesses. Those motions include whether certain witnesses and evidence will be presented at trial.
The city is suing to force the team to play out the two seasons remaining on its KeyArena lease.
A trial in the lawsuit is scheduled June 16 in U.S. District Court in Seattle.
By The Associated Press
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$500 million 100% public funded arena in OKC he wants a sponsorship with Bengay, so that it can be called the BenGay Arena as a tribute to the Bennett/Gaylord
families ... lol