NBA approves sale of Sonics to Oklahoma City group

10.24.2006

Seattle, WA (Basketball News) - 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 Tuesday.

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.

SEA

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