Monday, July 14, 2008

From the Student Section.......For the Love of the Money



Clay Bennett proved that there is no problem in sports that can not be solved by a suitcase of money. Bennett, the new owner of the NBA’s Seattle Supersonics, settled a lawsuit with the City of Seattle that will allow him to move the team to Oklahoma City next season. The settlement is worth $75 million, and ended a six day federal trial. The settlement, however, just proved that money can buy anything in sports.
Bennett and his group were fighting Seattle over two remaining years that the team had on its lease with the aging Key Arena. The Supersonics wanted the city and state to pour money into a new arena for the team. However, Seattle and the state of Washington refused to fund a a new arena project for the team. The Supersonics had called Seattle home for 41 years. The decision, however, made Bennett a villain to many.
“"In a perfect world I would have liked to see Clay Bennett leave, without the team at all," said Steven Pyeatt, the co-founder of Save Our Sonics, in a statement on Wednesday. Bennett bought the Supersonics from Starbucks Founder Howard Schultz for 350 million dollars in 2006. Bennett, an Oklahoma City native, face criticism for trying to force Seattle to build a new arena, while still wanting to move the franchise all along.
Bennett never really acted like he would live up to the promises of making a “good faith” effort to keep the team in Seattle. There are even emails that Bennett sent to his partners to prove that there was no hope that the team would remain in Seattle.
I don’t have anything against Oklahoma, it is the state that produced country star Carrie Underwood, but how can the NBA stand by and let an owner make a fool of himself and the league. Bennett is the guy who argued in court that the Supersonics departure would have no economic effect on Seattle. How would you like an Oklahoma City resident who voted to approve a $121 million arena renovation because you were told an NBA franchise would be an economic boon to your city? The same group of owners who claimed they would lose $60 million if they were forced to stay two more seasons in Seattle, but signed a check for $45 million and the possibility of having to write another check for $30 million if certain conditions are met. Compared to $75 million, $60 million would be a better offer in my opinion.
The former owner Schultz is suing Bennett to regain control of the team, because he did not make that “good faith” attempt, and was shopping for a new relocation within a year of buying the team. Some feel Schultz could still prevail, but it is going to be a tough sell.
While Bennett did agree to leave the Supersonic name, colors, and history behind in a grand gesture in case Seattle gets a franchise later on, the fans lost out. It also helps that you get to sell new merchandise with a new logo and city on it, and attempts to leave the Seattle saga behind.
With owners like Bennett in professional sports, it makes a person wonder if everything in sports can be bought for the right price.