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SuperSonics, Oklahoma City reach preliminary lease agreement

Updated: March 14, 2008, 7:45 PM ET
Associated Press

OKLAHOMA CITY -- The Seattle SuperSonics and Oklahoma City have reached a preliminary agreement on a lease at the Ford Center pending NBA approval of the team's relocation.

The 15-year deal calls for the SuperSonics to pay the city $1.6 million annually for use of the building and reimburse $409,000 per year to replace revenue from naming rights for the arena currently paid by local Ford car dealerships.

"I'm very pleased with the deal," City Manager Jim Couch said. "I believe that ...

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