Howard Schultz, Starbucks CEO and former Sonics owner, plans to sue to reacquire the team:
Nearly two years after selling Seattle’s NBA franchise to Oklahoma City investors, the Starbucks mogul has hired a lawyer and is preparing to file a lawsuit against Sonics chairman Clay Bennett to rescind the July 2006 sale.
His lawyer, Richard Yarmuth:
“It’s not money damage. It’s to have the team returned. The theory of the suit is that when the team was sold, the Basketball Club of Seattle, our team here, relied on promises made by Clay Bennett and his ownership that they desired to keep the team in Seattle and intended to make a good-faith effort to accomplish that.”
Schultz got painted as the bad guy when hew sought big bucks for a new arena, and when rebuffed sold the team to a group from Oklahoma City, Oklahoma.
A lawsuit by Schultz, when combined with the City of Seattle’s lawsuit, could very well force the NBA to rethink their strategy. He was an energetic owner, but an inexperienced one. Maybe he can make common cause with the fans he once jilted, and save the team.