Seattle to OKC: By the millions

Modified: July 3, 2008 at 12:53 am •  Published: July 3, 2008
From Seattle to Oklahoma City, the dollars-and-sense look at the deal that brought an NBA team here:

$350 million: Amount the owners paid to purchase the franchise from a group headed by Starbucks chairman Howard Schultz in July 2006.

$500 million: Projected cost of a proposed new Sonics arena in Bellevue, Wash. The Washington state legislature failed to vote on the measure by the owners' Oct. 31, 2007 deadline.

$121 million: Cost of renovations to the Ford Center and construction of a new practice facility, both funded by a one-cent sales tax approved by 61.9 percent of nearly 45,000 Oklahoma City voters in March 2008.

$26.5 million: The Oklahoma City-based ownership group's offer in February to settle a lawsuit aimed at keeping the team in Seattle. The city rejected the offer.

$45 million: Amount owners will pay Seattle to settle the lawsuit. That's also the amount owed to the NBA as a relocation fee.

$30 million: Amount owners will pay Seattle in 2013 unless: a)the Washington state legislature fails to authorize $75 million in funding for KeyArena renovations by the end of 2009 or b) Seattle obtains a new or relocated franchise in that five-year period.

From Staff Reports


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