OKLAHOMA CITY (AP) -The Seattle SuperSonics and Oklahoma City reached a preliminary agreement on a lease at the Ford Center, pending NBA approval of the team's move.
The deal calls for the club to pay the city $1.6 million annually for use of the building and reimburse $409,000 per year to replace revenue from naming rights.
The agreement calls for a 15-year term, but has an exit clause after the sixth year if revenues fall from the first two years after the Ford Center's renovations are completed.
Advertisement
Advertisement

Top NBA Public Bets

NBA Top Stories

Thumbnail Spurs vs. Clippers Prediction Will the over cash tonight when the Clippers host the Spurs at 10:30PM ET in a battle of Western Conference foes?
Thumbnail Thunder vs. Lakers Prediction Will the Thunder cover the spread tonight as a double-digit home favorite when they host the Lakers at 8:00PM ET?
Thumbnail Suns vs. Bulls Prediction Will the Suns cover as a road underdog tonight when they visit the BUlls at 8:00PM ET?
Thumbnail Celtics vs. Raptors Pick The Boston Celtics hit the road to face the Toronto Raptors tonight in a key clash of two of the Eastern...
Thumbnail Wizards vs. 76ers Prediction Will tonight's Wizards and 76ers matchup be high-scoring for bettors at 7:00PM ET?

NBA Team Pages