Dear Mr Silvi,
It appears that the new Sonics owners didn't have any intention of keeping the Sonics in Seattle. This is according to one of the owners, Aubrey McClendon, quoted in Oklahoma City's Journal Constitution, August 13, 2007. There was supposed to be an honest effort to make the situation work here in Seattle, as a condition of sale there was a "side letter" written to Howard Schultz and the other owners. And there apppears to be a former owner, David Sabey, that doesn't appear to be getting serious consideration from the Oklahoma group. Is it possible that David Sabey has a contractual right to buy the Sonics back based on the quotes made by one of the new owners?
[the OKC owner's story in part, published on 8/13/2007]
McClendon said the team would probably make more money if it stayed in Seattle.
“But we didn’t buy the team to keep it in Seattle; we hoped to come here,” he said. “We know it’s a little more difficult financially here in Oklahoma City, but we think it’s great for the community and if we could break even we’d be thrilled.”
ref:
Hard work, luck make billions
by Jerry Shottenkirk
The Journal Record August 13, 2007
http://www.journalrecord.com/article.cfm?recid=80883
It isn't a complete shock that the OK owners want the team there, but it seems kind of stupid to make this statement in an interview. My understanding from an interview that Howard Schultz had on KJR last year was that the Bennett/McClendon group provided a side letter that said they had to make a real effort to keep the team here.
[Mitch Levy, KJR interview, Seattle Times transcription]
Q: We understand that the new owners have a contractual commitment in the next 12 months not to move the team, and are bound by the lease until 2010. Is that right?
[Howard Schultz]
A: As part of the negotiation, I asked for something that was a deal breaker in negotiation. What I asked for was a side letter to our ownership group and to me that said basically he would honor the four-year lease in terms of the 2010 terms, and use his best efforts over next 12 months ...They have obligation and a desire and what I understand him to say and write in the letter is that they will honor lease and work as hard as they can in the next 12 months to get something done.
ref:
Transcript of Schultz' KJR-AM interview
By Seattle Times staff
Sports: Wednesday, July 19, 2006
http://archives.seattletimes.nwsource.com/cgi-bin/texis.cgi/web/vortex/display?slug=webschultzinterview19&date=20060719&source=st
The "side letter" was provided to Schultz and the rest of that ownership group, that group included David Sabey according to the Tacoma News tribune.
[backround used in a story written by Eric D. Williams last week]
In May, Puget Sound area real estate developer David Sabey offered to purchase the team. He was initially rejected by Bennett’s group, according to three sources.
Sabey, who was part of the Schultz ownership group, owns 55 acres at the south end of Boeing Field. Sources say he wants to use the site to build a new arena.
ref:
$100 million from Sonics could start arena talks
ERIC D. WILLIAMS; The News Tribune
Published: August 2nd, 2007 01:00 AM
http://www.thenewstribune.com/sports/story/123987.html
Maybe the side letter isn't binding, or, maybe, the OKC owners are stupid. Either way, I think there a little bit of a story in here somewhere.
Thanks to Brian Robinson and the folks at Sonicscentral.com for digging, and my fuzzy memory of David Sabey's involvement, for prompting my letter to you.
Have a great day,
Supersonicsfan, Mr Baker
Seattle
http://theseattlesupersonics.blogspot.com/
cc Mitch Levy at KJR and Eric D. Williams at the Tacoma News Tribune.
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