Why did Howard Schultz sell the Sonics?
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Why did Howard Schultz sell the Sonics?
Five years later, Schultz — exasperated by his inability to secure public funding for a new arena for the Sonics, and turned off by NBA players whom he considered overpaid and disengaged — sold the team, for an attractive profit, to a group led by Oklahoma City businessman Clay Bennett.
Who sold the Sonics to OKC?
Clay Bennett
After failed efforts to persuade Washington state government officials to provide $220 million in public funding to update KeyArena, 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.
Who did Howard Schultz sell the Sonics to?
After years of losing money and failing to secure a new arena deal, Schultz chose to sell the Sonics for $350 million in 2006 to a group of Oklahoma City businessmen fronted by Clay Bennett.
Why were the Seattle SuperSonics sold?
Schultz sold the franchise to Bennett’s group because they thought that Bennett would not move the franchise to Oklahoma City but instead keep it in Seattle.
How much is Howard Schultz net worth?
4.8 billion USD (2021)
Howard Schultz/Net worth
Who bought the OKC Thunder?
The PBC purchased the NBA franchise in 2006….
| Clayton I. Bennett Chairman, Oklahoma City Thunder Chairman, Dorchester Capital | George B. Kaiser President, GBK Corporation Chairman, BOK Financial |
|---|---|
| G. Jeffrey Records, Jr. Chairman and CEO, MidFirst Bank | William M. Cameron Chairman and CEO, American Fidelity Assurance Company |
Who moved the Sonics?
When did the Sonics move to OKC? What happened to Seattle SuperSonics? In July 2006, Aubrey McClendon, his Chesapeake Energy co-founder Tom Ward and Clayton Bennett orchestrated a deal to buy the Seattle SuperSonics NBA team (along with the WNBA’s Storm) from Starbucks founder Howard Schultz for $350 million.
Did Howard Schultz own the Sonics?
Howard D. Schultz (born July 19, 1953) is an American businessman and author. He served as the chairman and chief executive officer (CEO) of the Starbucks Coffee Company from 1986 to 2000, and then again from 2008 to 2017. Schultz also owned the Seattle SuperSonics basketball team from 2001 to 2006.
Who is Howards wife?
Sheri Kersch Schultzm. 1982
Howard Schultz/Wife
Who owns OKC blue?
After nine seasons in Tulsa, the franchise moved to Oklahoma City in 2014 and were subsequently renamed the Oklahoma City Blue….
| Oklahoma City Blue | |
|---|---|
| General manager | Nazr Mohammed |
| Head coach | Grant Gibbs |
| Ownership | Professional Basketball Club LLC |
| Affiliation(s) | Oklahoma City Thunder |
https://www.youtube.com/watch?v=OY7FjytBFug