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The Journal Record Daily Update
Today
Bennett: Sonics to play in OKC next season
OKLAHOMA CITY (JR) – SuperSonics owner Clay Bennett announced Wednesday evening that the dispute over the NBA team's lease with Seattle's KeyArena has been settled.

Terminating the lease will cost the Oklahoma City ownership group $45 million, with an additional $30 million payment contingent on terms agreed upon by the city of Seattle and the Oklahoma City ownership group.

The Washington Legislature must approve funding for a new arena or for renovation of KeyArena. If it isn't approved, the ownership will not owe the $30 million. If it is approved, Seattle will have five years to get another professional team. If they are unable to do so, the Oklahoma City ownership group must pay the contingent $30 million. If they are able to lure another team, the $30 million does not have to be paid.

Bennett said the team's move to Oklahoma City will begin Thursday morning.
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