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Sonics, Storm sold to group from Oklahoma City

Updated: July 19, 2006, 3:08 AM ET
Associated Press

SEATTLE -- A group from Oklahoma City has agreed to buy the NBA's Seattle SuperSonics and the WNBA's Seattle Storm.

The new owners have set a 12-month deadline to reach a new arena deal with Seattle officials -- something the teams' previous owners didn't accomplish in two years. After that, the new owners gain the option to move the team to Oklahoma.

Stein's take

  This early in the process, only one thing is clear about the sale of the Seattle SuperSonics:

Oklahoma ...

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