NBA Board of Governors approve franchise relocation
The question now is when, not if Oklahoma City will be home to a NBA franchise following a 28-2 vote by the association’s Board of Governors today in New York.
The Board, comprised of NBA franchise owners, voted to approve Professional Basketball Club, LLC’s request to relocate the Seattle SuperSonics to Oklahoma City.
“Things fell into place both politically and privately for this franchise to be in Oklahoma City,” said Oklahoma City Mayor Mick Cornett. “We have proactively created a community that can support a franchise.”
Cornett made the announcement at City Hall following a news conference held in New York by NBA Commissioner David Stern and SuperSonics owner Clay Bennett.
The team could move to Oklahoma City as early as next season, or as late as 2010. Timing on the move is contingent on a federal lawsuit brought by the City of Seattle against the team’s owner over lease agreements with Key Arena.
In March, Oklahoma City voters approved a temporary one-cent sales tax to fund major upgrades to the Ford Center to attract a NBA team and give the arena competitive advantages over other event facilities in the region.
“Thanks to the citizens of Oklahoma City for getting us to this point; their support of the Hornets and their vote for the improvements to the Ford Center,” Cornett said. “Years from now people will look back at putting a team in Oklahoma City and say they did the right thing.”
To view the Mayor’s announcement click here.
City Council approves lease agreements with Professional Basketball Club, LLC
The Oklahoma City Council approved an Arena Use License Agreement, Practice Facility Lease Agreement and an Arena Upgrades and Practice Facility Agreement with Professional Basketball Club, LLC.
The Arena Use License Agreement and Practice Facility Lease Agreement detail conditions for Professional Basketball Club, LLC’s operational use of both the Ford Center and an NBA Practice Facility. The two agreements closely follow the Letter of Intent approved by City Council in March.
The Arena Upgrades and Practice Facility Agreement allow Professional Basketball Club, LLC input during renovation and construction of the two properties.
“We worked long and hard to negotiate agreements that provide a solid foundation for Oklahoma City’s success as a major league City,” City Manager Jim Couch said. “These are agreements citizens can take pride in.”
The Food and Beverage Agreement is being finalized and will be considered during the April 22 Council meeting.
Oklahoma City took a step closer to landing a NBA team today when league commissioner David Stern announced the relocation subcommittee’s decision to recommend Oklahoma City for a NBA franchise.
The request by Professional Basketball Club, LLC to relocate the Seattle SuperSonics to Oklahoma City will be voted on by the NBA Board of Governors on April 17-18 in New York. More
Oklahoma City Manager Jim Couch announced today the City has negotiated a Letter of Intent with Professional Basketball Club, LLC to relocate its NBA basketball team to Oklahoma City.
The timing of the proposal is contingent on the outcome of ongoing court proceedings between the team and the City of Seattle as well as approval by the NBA in mid-April. More
(March 5, 2008) - Oklahoma City voters overwhelmingly approved a temporary one-cent sales tax on March 4 to fund major upgrades to the Ford Center and build an off-site practice facility for an NBA franchise. The renovations are hoped to attract an NBA team to Oklahoma City and will give the arena competitive advantages over other event facilities in the region. More
NBA specific improvements