SEATTLE, WASH. -- The city of Seattle and the SuperSonics reached a last-minute settlement before a judge was to rule in their KeyArena lease dispute.
The settlement was reached Wednesday just hours before U.S. District Judge Marsha Pechman was to announce her verdict in the trial between the city and the team. The settlement was announced by Pechman on the federal court Web site.
Details of the settlement are expected later Wednesday night. Sonic's owner Clay Bennett has scheduled a 5pm new conference to discuss the judge's decision.
Seattle Mayor Greg Nickels wants the team to stay in Seattle until 2010, when the team would finish out its lease at Key Arena. Bennett had offered $26.5 million to move the team out of Seattle to Oklahoma City.