
It's over.
Forty-one years of history and memories were sold for as much as $75 million Wednesday. Seattle will keep the Sonics' name, colors and logo, but the team itself will move to Oklahoma City for the 2008-09 season. In a settlement between the team's Oklahoma City-based ownership and the city of Seattle, owner Clay Bennett and his partners will pay the city $45 million now and would pay an additional $30 million in 2013 if the state authorizes at least $75 million in public funds to renovate KeyArena or if Seattle doesn't nab another unfortunate city's NBA franchise in the next five years.
"We made it," said Bennett. "The NBA will be in Oklahoma City next season."
NBA commissioner David Stern indicated that a renovated KeyArena might be enough to support another NBA franchise.
"We understand that city, county, and state officials are currently discussing a plan to substantially rebuild KeyArena for the sum of $300 million," said Stern in a statement. "If this funding were authorized, we believe KeyArena could properly be renovated into a facility that meets NBA standards relating to revenue generation, fan amenities, team facilities, and the like. Given the lead times associated with any franchise acquisition or relocation and with a construction project as complex as a KeyArena renovation, authorization of the public funding needs to occur by the end of 2009 in order for there to be any chance for the NBA to return to Seattle within the next five years."
That's small consolation for Seattle, and while former owner Howard Schultz is pursuing a legal argument that Bennett's group never negotiated the Sonics' sale in good faith, it's a longshot bid at best and after the first tip-off in Oklahoma City, it's going to be too little, too late for heartbroken Sonics fans.
Forty-one years went by far too quickly, now blown away like the dust in an Oklahoma windstorm.
SEASON HIGHLIGHT: Playing in perhaps the last home game at Seattle's KeyArena in Sonics history last Sunday, the Sonics put on a performance to remember in a 99-95 win over the Dallas Mavericks. Seattle rookie Kevin Durant hit the game winner, a 15-foot jumper from the elbow with under a minute left. Afterwards, Sonics fans stood chanting "Save Our Sonics" for two minutes. Durant said he almost cried after the game.
TURNING POINT: Seattle started the beginning of the season on an eight-game losing streak -- a foreshadowing of the miserable season to come as the Sonics lost a franchise-record 62 games.