Supersonics Franchise Prepares for Oklahoma Move

March 16 - The NBA franchise now known as the Seattle Supersonics is continuing to make preparations for a possible move to Oklahoma City. According to reports, owner Clay Bennett has mailed a letter of intent to Oklahoma City's mayor Mick Cornett outlining what has to happen for the team to relocate there.

OK City officials are expected to meet Tuesday, March 18 in order to discuss the terms. Local television KSBI reports that the team will pay $1.6 million in yearly arena rental fees and $100,000 for practice facilities.

Voters have already approved a one cent sales tax hike in a March 4 referendum for renovations to the same arena that functioned as a temporary home for the New Orleans Hornets in the aftermath of Hurricane Katrina.

In April an NBA relocation committee is scheduled to report their findings to an owners meeting after a trip to Oklahoma City. League commissioner David Stern has stated that without a new Seattle arena, the Supersonics were likely to leave the city where it has called home since 1967.

The proposed lease in Oklahoma City would be for 15 years and the facility will be renamed, though the new name has not yet been agreed upon.

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