From: The Sports Point
The SuperSonics reached a preliminary agreement with Oklahoma City on a 15 year lease at the Ford Center, which would include paying more than $2 million annually to the city and for naming rights. Although this is a big step in moving the team from Seattle, NBA team owners will still have to approve the deal, and the team would also have to be released from its current lease.
> "Other steps to come in the future will include the board of governors acting on the relocation agreement and finally, the resolution of the lease agreement in Seattle," Jim Couch, city manager in Oklahoma City, told MyNorthwest.com.
The 15-year agreement has an exit clause if attendance falls after the first two years. Sonics one step closer to Okla. (MyNorthwest.com)