Settlement reached over Sonics' Oklahoma City move

Tuesday, August 19, 2008

In this June 17, 2008 file photo, Seattle SuperSonics owner Clay Bennett arrives at the U.S. Courthouse in downtown Seattle to testify in the city's trial against the team. Bennett's ownership group has reached a final settlement with the city of Seattle allowing the former SuperSonics franchise to move to Oklahoma City. Attorneys filed a document Tuesday, Aug. 19, 2008 in Seattle federal court noting that the parties had agreed to pay their own court costs after reaching the settlement. (AP Photo/Elaine Thompson, File)

By JEFF LATZKE
OKLAHOMA CITY (AP) -- Clay Bennett's ownership group has reached a final settlement with the city of Seattle allowing the former SuperSonics franchise to move to Oklahoma City.

Attorneys filed a document Tuesday in Seattle federal court noting that the parties had agreed to pay their own court costs after reaching the settlement.

Bennett announced last month that a settlement was being negotiated that would involve him making a payment of up to $75 million to Seattle to get out of the final two years of a lease at KeyArena.

At that time, he had expected the settlement to be finalized by Aug. 1. Instead, a time extension was sought from the court and terms weren't reached until now.