From the ArcaMax Publishing, Sports Update Newsletter:
http://www.arcamax.com/news/sports/s-372434-884309
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."