Sonics (Team not Name) Officially Moving to OKC

What's the price of freedom in the NBA? Apparently, the price tag is $75 million, at least if you're a bunch of cowboys. The Clay Bennett ownership group has reached a settlement agreement with the City of Seattle clearing the way for the Sonics move to Oklahoma City for the 2008-09 season. In return for agreeing to the termination of the Sonics lease, the ownership group will pay the City $45 million and agree to leave the Sonics name and colors behind for a future NBA team. In addition, the Bennett group will pay Seattle an additional $30 million in 2013 if the state legislature approves funding for a new arena or Key Arena renovation next year and Seattle does not get a replacement NBA team (the Hornets, Kings??) within the next five years. The one potential fly in the ointment is the lawsuit being pursued by Howard Schultz, he of Starbucks fame, against the Bennett group. The City has agreed that if the team is ultimately forced to move back to Seattle as a result of the Schultz suit, however unlikely, the city will refund $45 million and if the team plays in Key Arena during the next two seasons, then the Bennett group won't owe the additional $30 million. The NBA was apparently part of the settlement process and has also supposedly committed to Seattle officials to assist in returning a team to Seattle within five years, assuming the arena issue is resolved. An ownership group is in place, headed by Microsoft CEO Steve Ballmer and the outline of a deal on renovations for Key Arena are in place. What is needed is action by the legislature and that is by no means assured. However, the Mayor and Governor are solidly behind the plan and with local ownership not likely to have the same issues as the Bennett group presented, I would be more optimistic this time.