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Old 03-14-2008, 09:39 PM   #1
Nets fan 93
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Exclamation Sonics, Oklahoma City reach preliminary deal on arena

http://www.thenewstribune.com/sports...ry/309346.html
Quote:
OKLAHOMA CITY — The Seattle SuperSonics and Oklahoma City have reached a preliminary agreement on a lease at the Ford Center pending NBA approval of the team’s move.
The deal calls for the SuperSonics to pay the city $1.6 million annually for use of the building and reimburse $409,000 a year to replace revenue from naming rights for the arena. The 15-year agreement has an exit clause if attendance falls after the first two years.

The deal would not become official unless NBA team owners approve the Sonics’ relocation in a meeting next month and until the team can escape its lease in Seattle.
Looks like Seattle just lost a franchise.
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