duncan228
03-15-2008, 12:22 AM
I didn't see this posted, forgive me if I missed it.
http://sportsillustrated.cnn.com/2008/basketball/nba/03/14/sonics.relocation.ap/index.html
Sonics one step closer to leaving
Team reaches deal on arena lease with Oklahoma City
OKLAHOMA CITY (AP) -- The Seattle SuperSonics and Oklahoma City reached a preliminary agreement on a lease at the Ford Center, pending NBA approval of the team's move.
The deal calls for the club to pay the city $1.6 million annually for use of the building and reimburse $409,000 per year to replace revenue from naming rights.
The agreement calls for a 15-year term, but has an exit clause after the sixth year if revenues fall from the first two years after the Ford Center's renovations are completed.
http://sportsillustrated.cnn.com/2008/basketball/nba/03/14/sonics.relocation.ap/index.html
Sonics one step closer to leaving
Team reaches deal on arena lease with Oklahoma City
OKLAHOMA CITY (AP) -- The Seattle SuperSonics and Oklahoma City reached a preliminary agreement on a lease at the Ford Center, pending NBA approval of the team's move.
The deal calls for the club to pay the city $1.6 million annually for use of the building and reimburse $409,000 per year to replace revenue from naming rights.
The agreement calls for a 15-year term, but has an exit clause after the sixth year if revenues fall from the first two years after the Ford Center's renovations are completed.