Clayton Bennett, saying he can no longer live with a lease that forces him to share revenues with the city of Seattle, threatened to move his NBA team to Oklahoma City on Saturday.
Bennett made a formal application to commissioner David Stern for the move saying that an inability to build a new arena and financial losses have led to "no option but to commence the relocation process".
Under the team's current "prohibitive" lease, Bennett says the Sonics must share lucrative luxury suite and concession money with the city.
"Today we notified commissioner Stern that we intend to relocate the Sonics to Oklahoma City if we succeed in the pending litigation with the city, or are able to negotiate an early lease termination, or at the end of the lease term," Bennett said.
Source: China Daily
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