Sonics Trial Blog
Seattle Times reporters Percy Allen, Jim Brunner and Danny O'Neil are filing updates from the courthouse throughout the day.
SubscribeJune 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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Other links
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