Eric Williams covered the Sonics' last season in Seattle. A Tacoma native, Eric graduated from Mount Tahoma High and the University of Puget Sound.
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The City of Seattle filed a lawsuit against the Seattle SuperSonics in King County Superior Court over the lease agreement between the two parties, according to the Associated Press.
Representatives from the city held a press conference at the Seattle law offices of K & L Gates Monday morning. The city retained the law firm’s services to represent them on the case.
The city’s lawsuit is designed to keep the Sonics from breaking their lease, and was in response to the Sonics ownership group filing for arbitration over the KeyArena lease agreement with the American Arbitration Association on Friday.
The ownership group is seeking a buyout of the KeyArena lease by making a case of economic hardship suffered by both the city and the franchise.
In the arbitration filing the Sonics claim they lost $17 million last season. Sonics chairman Clay Bennett and a group of Oklahoma City investors bought the team for $350 million in July 2006.
The ownership group wants to get out of playing at KeyArena the last two years of the lease agreement, which runs until Sept. 30, 2010.
However, the city references a specific performance clause in the lease agreement that states the team must play all home games exclusively in KeyArena until the end of the agreement.
I’ll have more on this story later today.
