SEATTLE – A group from Oklahoma City has agreed to buy the Seattle SuperSonics and the Seattle Storm, an official with the SuperSonics said Tuesday.
The team scheduled an afternoon news conference to officially announce the sale. The team official spoke to The Associated Press on condition of anonymity because the sale had not been announced.
The Basketball Club of Seattle would not officially comment until the news conference.
In February, Sonics majority owner Howard Schultz threatened to possibly move or sell the city’s oldest major league professional sports franchise, saying the team has lost about $60 million in the past five years, and blaming a revenue-sharing lease at KeyArena with the city of Seattle that lasts until 2010.
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