In case you didn't hear, the Sonics have made a deal with the city of Seattle and will be leaving for Oklahoma City for this season. In return, the City will recieve 45 million dollars from owner Clayton Bennett, and could recieve an extra 30 million if the City does not recieve a new NBA team by 2013. The City also keeps the Sonics' names, records, etc.
Mayor Greg Nickles spoke at a press conference and addressed many factors. Some of them include that the NBA will notify the city if any teams become available. The NBA also decided that the Key Arena would be a viable option if the proposed 300 million dollar renovation plan goes through.
By letting the Sonics go, the city gets back on David Stern's good side. Supposedly, the Grizzlies are going to become available for sale soon (if they are not already), so Seattle could have a new team very soon.
I believe the City made the correct decision to settle. Even if they did win the lawsuit (sounds like they would have), they would have only had 2 years of the Sonics, and even then the NBA and David Stern would turn their back on the city for good.
Keywords: Basketball, Clay Bennett, David Stern, Greg Nickles, Memphis Grizzlies, NBA, Seattle Sonics
