|Oklahoma City reaches preliminary lease agreement with Sonics|
|Written by Admin|
|Friday, 14 March 2008 12:32|
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.