<P> The Seattle SuperSonics, a professional basketball team in the NBA, relocated from Seattle, Washington to Oklahoma City, Oklahoma in 2008 . The third NBA franchise to relocate in the 2000s, the team began play as the Oklahoma City Thunder in the 2008--09 basketball season . </P> <P> After efforts to persuade Washington state government officials to provide $220 million in public funding to update KeyArena failed, the SuperSonics' ownership group, led by Howard Schultz, sold the team to the Professional Basketball Club LLC (PBC), an investment group headed by Oklahoma City businessman Clay Bennett . A condition of the sale was that PBC execute a "good faith effort" to secure a suitable arena in the Seattle area for the team . After failing to persuade local governments to pay for a new $500 million arena complex, Bennett's group notified the NBA that it intended to move the team to Oklahoma City and requested arbitration with the city of Seattle to be released from its lease with KeyArena . When the request was rejected by a judge, Seattle sued Bennett's group to enforce the lease that required the team to play in KeyArena through 2010 . On July 2, 2008, a settlement was reached that allowed the team to move under certain conditions . </P>

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