Tuesday , Oct , 24 , 2006 C.Y. Ellis

NBA approves sale of Sonics to Oklahoma City group

Seattle, WA (Sports Network) – The NBA Board of Governors announced its
approval of the sale of the Seattle SuperSonics to the Professional Basketball
Club (PBC) LLC, an Oklahoma City investment group, at its annual meeting

The group, led by businessman Clay Bennett, also acquired the Seattle Storm as
part of the deal, which was announced at a news conference on Tuesday.

“We appreciate the support of the Board of Governors and we are honored to
become a member of the NBA,” Bennett said. “We are excited about owning one of
the outstanding franchises in sports in one of America’s greatest cities. We
are looking forward with great anticipation to the 40th anniversary season of
the Sonics.”

Bennett, who used to be on the board of directors for the San Antonio Spurs,
was active in accommodating the Hornets when they were displaced by Hurricane
Katrina and forced to play most of last season in Oklahoma City.

PBC’s first day of official ownership will be November 1, which coincides with
Seattle’s home opener against the Portland Trail Blazers.

There is no immediate evidence that Bennett and company are planning to move
the franchises to Oklahoma. The Sonics’ lease for KeyArena with the city of
Seattle expires in 2010.