Tuesday, April 29, 2008
Terms for Sonics' move includes clause that team name have Oklahoma City
OKLAHOMA CITY -- The Oklahoma City Council has approved the
final portion of its lease terms with the Seattle SuperSonics,
including a clause requiring the team include Oklahoma City in its
name upon relocation.
The team's food and beverage agreement for the Ford Center
approved Tuesday was the last piece of the lease to be finalized.
It calls for the SuperSonics to get 40 percent of revenues from
concession sales and 25 percent of sales from courtside seats,
luxury suites and other premium seating areas.
The agreement also officially requires the NBA team to use
Oklahoma City in its name.
City special projects manager Tom Anderson says that clause was
inadvertently included in the initial letter of intent with the
Sonics, but Tuesday's agreement makes it binding.
The SuperSonics' relocation has been approved by the NBA but the
team's efforts to break its lease with Seattle are pending in