Clay Bennett, partners save $30 million

BY MIKE BALDWIN, Staff Writer, mbaldwin@opubco.com Published: January 2, 2010
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Thunder chairman Clay Bennett and his Professional Basketball Club LLC partners officially saved $30 million, hours after the team won its fifth consecutive game Thursday night.

As part of an agreement signed in July 2008, Bennett’s group agreed to pay the city of Seattle $45 million to escape the final two years of a contract with KeyArena. Another condition of the agreement stipulated Bennett and his partners would pay an additional $30 million if the city of Seattle approved funding to renovate KeyArena by Dec. 31, 2009, and Seattle didn’t land another NBA team by 2013.

The city of Seattle did not approve legislation to improve KeyArena.



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