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Sonics settle with city of Seattle

SEATTLE (UPI) -- The city of Seattle and the NBA's SuperSonics reached a settlement Wednesday on their bitter dispute surrounding the team's lease at the KeyArena.

The out-of-court settlement came hours before a federal judge's ruling was expected.

The settlement, excluding specific details, was announced by Judge Marsha Pechman on the Web site of U.S. District Court for the Western District of Washington in Seattle.

The statement added that details of the agreement will be released by the parties.

A report by the Seattle Times late Wednesday afternoon said that a source said the two sides have been discussing a deal that would involve the Sonics leaving town for Oklahoma City in exchange for up to a $75 million payment to the city.

"If it's strictly a cash settlement, we will stand by what we've been saying and let them know that money isn't good enough," said Steven Pyeatt, a co-founder of Save Our Sonics. "Only the continuance of Sonics basketball is good enough."

Copyright 2008 by United Press International

This news arrived on: 07/02/2008

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