OKC Council Approves NBA Team Lease

The Oklahoma City Council today unanimously approved a preliminary lease agreement with the Seattle SuperSonics. The action came as NBA representatives toured the Ford Center and prepared for a 4:30 p.m. news conference at the Skirvin Hotel.

NBA commissioner David Stern and others are here for the tour.

The 15-year lease agreement, contingent on the team's relocation to Oklahoma City, calls for the SuperSonics to pay the city $1.6 million annually to use the Ford Center and another $409,000 per year to be able to re-sell the arena's naming rights.

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