Seattle Settles Sonics Lawsuit

Discussion in 'Oklahoma City Thunder' started by psheehy, Jul 2, 2008.

  1. psheehy

    psheehy Beaten down by the "MAN"

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    Multiple sources in OKC and Seattle indicate that details to follow at a 5PM PDT press conference from Seattle Mayor, Greg Nickels.

    http://www.newsok.com/article/3265111

    http://seattletimes.nwsource.com/html/loca...onitrial02.html

    One source is suggesting a big cash payout by PBC to Seattle with no formal promise of a new team. Others hint that there is a settlement with a future team promised conditionally on ownership and arena established within 2-3 years.

    No one really knows what is going on. In fact, the Seattle Times referenced an article at NewsOK.com in its article and now NewsOK.com is referencing the Seattle Times article.
     
  2. psheehy

    psheehy Beaten down by the "MAN"

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    Bennett takes his team to OKC starting tomorrow morning. He leaves behind $45M for the city of Seattle which pays off the two years of rent and the remaining debt on the last remodel with additional monies remaining for the city to spend on the Seattle Center and Key Arena.

    Bennett is on the hook for an additional $35M if the three following conditions are met:

    1) Shultz loses his suit to rescind the original sale to PBC.
    2) The State of Washington authorizes the city to collect tax revenues to raise $75M to rennovate Key Arena to a viable NBA arena (combined with $75M of city money and $150M of private investment).
    3) The NBA is unable to produce an available franchise via relocation or expansion into Seattle by the year 2013.

    If any one of those conditions are not met Bennett is free and clear of the additional $35M.

    Also if Shultz were to win his suit, the city would be forced to refund the initial $40M.

    Finally, the name and history of the team remains in Seattle. PBC will name their new OKC based NBA franchise at a later date.
     
  3. Dark Defender

    Dark Defender The Dark Passenger

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    Does he pay the $35 mill if any of the conditions are met or must all 3 happen?
     
  4. psheehy

    psheehy Beaten down by the "MAN"

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    All three must happen.
     
  5. Iron Shiek

    Iron Shiek Maintain and Hold It Down

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    I expected that Pechman would ask PBC to buy the city of Seattle out -- but 75 million -- and only 45 guaranteed“? WTF. That is the standard in which a team can relocate if they don't get the arena deal they want“?

    Rashard Lewis' contract is worth almost 3 times as much as the Sonics will pay to get out of the final two years of their lease. I knew that Pechman didn't want to force Bennett into being a tenant in an arena that obviously they do not want to market to the city of Seattle. But why don't you bleed them for everything that they have so not only the city of Seattle is well compensated but also other owners don't feel compelled to try to negotiate buy outs to get arena deals done for other pro franchises.

    Pechman could have asked them to pay $150 million and she would have had all the legal standing in the world to do it because the Sonics are an unusual tenant. 35 million dollars is a fucking joke. I am embarrassed for the NBA, pro sports in general, and the judicial system as a whole. A group buys a team, is obviously very deceptive about their motives to keep the team in the area, is shown to have not made good efforts to keep the team in the area, and is rewarded for their efforts just because they have shown themselves unwilling to put together a good product for a region they never wanted to be in in the first place.

    Where is the f<u>u</u>cking justice for the Seattle fans? They don't get shit from the 35 million dollar buyout. They haven't been promised another franchise. WTF.

    F<u>u</u>ck Marsha Pechman and f<u>u</u>ck David Stern. I don't blame Clay Bennett because he doesn't have the authority to make these rulings on his own. I wouldn't blame a criminal for committing crimes if the justice system allowed him to get away with it. No justice at all for the Sonics -- and I will not root for whatever name the Oklahoma City bandits will call their team.

    It's all on Howard Schultz. If Pechman is worth a salt she will do something to make this story more interesting. Hopefully she is removed from the case all together. Can't count on that bitch for anything.
     
  6. tim

    tim Respect JPJ

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    That's really a shame. I was hoping they would stay the remaining two years, but that's slimy business for you.
     
  7. pegs

    pegs My future wife.

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    Screw this. Lamest thing to happen in the NBA.

    Were the Sonics really struggling that bad in Seattle? Why couldn't they do this with a completely shitty franchise, like the Bobcats? This is fucked up
     
  8. Sir Desmond

    Sir Desmond JBB Stig!

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    **** Stern and **** Pechman. Spineless.
     
  9. Sir Desmond

    Sir Desmond JBB Stig!

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    And **** the ****ing swear filter too.
     
  10. Iron Shiek

    Iron Shiek Maintain and Hold It Down

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    I apologize for the inaccuracy of my earlier post. Pechman didn't make the ruling. Mayor Nickels and the city accepted the buyout.

    Actually it is harder to swallow that the city put together this elaborate plan to keep the city in Seattle and when it was all said and done they caved in.

    We have some gutless political leaders in this country. I could write a 20 page article on this issue but I'm too upset to even consider it. It's amazing that the one person that Seattle fans are hoping can save the Sonics is the one person who put us in this situation to begin with -- Howard Schultz.

    Pechman is absolved of any wrongdoing. She could have easily sided with Bennett and PBC but because she never gave her "official" verdict I will give her the benefit of the doubt.

    Why even have the trial though? This entire saga was made for TV bulls<u>h</u>it that nobody even cared enough to watch. Sad day for professional sports.
     
  11. BasX

    BasX I Win

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    Dans la ville avec cette chute d'eau énorme
    fuck this sucks
     
  12. Sir Desmond

    Sir Desmond JBB Stig!

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    Pretty much sums up what contracts are really worth when enough pressure and money is thrown up against them.

    I might go and watch BASEketball. They had the right idea.
     
  13. psheehy

    psheehy Beaten down by the "MAN"

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    The city claims it was going to win the suit, but it became increasingly clear that Stern would NEVER let another team come here if the city forced 2 lame duck seasons. They claim this was the best chance to make the city financially whole AND give them a chance to get another team later on which could be named the Sonics.

    While Seattle gets to keep its banners, name, and colors, there is a rumour that Bennett will be making replica banners to hang in Ford Center. To me that is even more slimy than the rest of the decision.

    I may change my tune in a few years, but for now, I am done with the NBA.
     
  14. Shard

    Shard Hi2u

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    The whole thing makes me sick to my stomach. What a disgrace to sports in general. I second your BASEketball thoughts as well, Nick. There's a store in the mall here with all Sonics clothes on like 75% clearance. Might as well preserve some memories while I can.
     
  15. Sir Desmond

    Sir Desmond JBB Stig!

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    <div class='quotetop'>QUOTE (psheehy @ Jul 3 2008, 09:49 AM) <{POST_SNAPBACK}></div><div class='quotemain'>I may change my tune in a few years, but for now, I am done with the NBA.</div>

    Ditto. At least we have Lauren Jackson.
     
  16. Shard

    Shard Hi2u

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    <div class='quotetop'>QUOTE (Sir Desmond @ Jul 4 2008, 03:12 AM) <{POST_SNAPBACK}></div><div class='quotemain'><div class='quotetop'>QUOTE (psheehy @ Jul 3 2008, 09:49 AM) <{POST_SNAPBACK}></div><div class='quotemain'>I may change my tune in a few years, but for now, I am done with the NBA.</div>

    Ditto. At least we have Lauren Jackson.
    </div>

    Lauren Jackson, Sue Bird, Swin Cash, shit we got Sheryl Swoopes. Storm in 08 holla!
     

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