Off to Oklahoma: Sonics settle, will leave Seattle

[estranged4life]

Sonics reach settlement with city of Seattle

SEATTLE (AP) - The city of Seattle and the SuperSonics reached a last-minute settlement before a judge was to rule in their KeyArena lease dispute.

A source told the Seattle Times that the two parties have been talking about a deal in which the Sonics would pay the city of Seattle $75 million to move to Oklahoma City.
But team owner Clay Bennett would pay just $45 million if the city is awarded another team, the source told the Times.

The settlement was reached Wednesday just hours before U.S. District Judge Marsha Pechman was to announce her verdict in the trial between the city and the team.

The settlement was announced by Pechman on the federal court Web site.

The city rejected a settlement offer of $26.5 million in February.