Sonics will be sold to Oklahoma group

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

The Basketball Club of Seattle will sell the teams to the Professional Basketball Club LLC, headed by Oklahoma City businessman Clay Bennett.

Bennett said at a news conference that whether the Sonics remain in Seattle would depend on whether the team can reach an agreement with the city to replace or renovate KeyArena.

"It is not our intention to move or relocate the teams," Bennett said.

No price was immediately reported, but Sonics majority owner Howard Schultz said the team turned down higher bids from groups that sought to move the team immediately.

Bennett was instrumental in the temporary relocation of the New Orleans Hornets.