Wednesday, July 2, 2008

City of Seattle, Supersonics settle lawsuit

The case has been settled. Apparently the Honorable Marsha Pechman will issue her ruling at 4pm, the Mayor's office will hold a press conference at 5pm to announce the details of the settlement.

Apparently there was an offer made in February of $26.5 million to break the lease and allow the team to move. It was rejected by the city. It is probably safe to assume that any settlement offer would be more than that figure.

Both sides still have the right to appeal to the 9th circuit court of appeals.

I'll keep you "posted."

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