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Seattle Times reporters Percy Allen, Jim Brunner and Danny O'Neil are filing updates from the courthouse throughout the day.

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June 18, 2008 3:19 PM

Sonics' lease payment projection is disputed

Posted by Percy Allen

Sonics attorney Brad Keller tried to introduce Exhibit 595, but Seattle attorney Jeffrey Johnson objected. Judge Marsha Pechman allowed Johnson to redirect before Keller could continue.

The attorneys disputed projections made by interim Sonics CEO Danny Barth used to quantify the team's lease payments to the city based on a calculation from MZ Sports, a financial advising company.

Pechman allowed a part of Barth's projection to be discussed and said the Sonics attorneys can discuss the other part after they call an analyst from MZ Sports later in the week.

In his analysis, Barth determined the city is due $9.2M in lease payments over the next two years.

Keller introduced Exhibit 514, talking points prepared by the Sonics for a Sept. 29, 2004 meeting with city officials. The memo states: KeyArena is "the worst lease in the NBA."

It also said: "Current Sonics ownership must consider sale of the franchise under these conditions and the real possibility that the team will move to a more modern facility [possibly outiside the City or even the region] with lease terms comparable to other teams."

Keller concluded his questions and Johnson began redirect.


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Sonics attorneys focus on city's "poisoned well" plan
Bennett says Sonics could lose $60 million if forced to stay in Seattle 2 more years
Sonics CEO: Fans are apathetic
Clay's excuses sound as contrived as his arena plan
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Documents

2007 "Poisoned Well" document (PDF)
Ward: "Are we doomed to have another lameduck season in Seattle?" (PDF)
Bennett's e-mail to Stern: "You are just one of my favorite people on earth" (PDF)
Clay Bennett and Sonics' court filing (PDF)

Multimedia

Gallery | Seattle SuperSonics: Lasting memories
Gallery | Bittersweet night for Sonics fans
Gallery | Sonics through the years
Gallery | 25th anniversary of Sonics world championship
Gallery | End of a Season, End of a Franchise?
Sports fan "Big Lo" seeks answers from Howard Schultz

Fans weigh in about the state of the Sonics
Cartoon | Schultz jumps into action
Talk about the team in the Sonics forum

Other links

Trial coverage from www.newok.com
ESPN.com | Hope (still) springs in Seattle