Ill post from a somewhat Seattle POV.

The City and Clay settled on the lawsuit, effective immediately:

Clay will pay the City of Seattle $45M
The Sonics franchise will relocate to Oklahoma City beginning Thursday am

The City of Seattle will retain the name, colours, history, titles; however OKC can lay claim to the statistics until Seattle gets a new team (assuming they subsequently resurrect the Sonics moniker)

The City will be entitled to an additional $30M if it meets the following conditions:
- the state approves funding for Key Arena or a new arena BY END OF 2009
AND
- the NBA does not get a team to Seattle within 5 years

(both conditions have to be satisfied, essentially giving Seattle one and a half more years to get a new arena or NOW a refurbished Key, per the NBA's guidance)

Upsides for OKC:

Immediate team
No more lawsuit
Finally, something to call our own
The City's lawsuit was likely to benefit Clay mostly but probably would have tied up the team in appeals, which would have prevented a move until 2009 at the earliest
One more upside is - the DIRT presented in the City's case just about annulled Howard Schultz lawsuit; so much so that most people here (aside from die-hard sonics fans) are sure Howie will drop his lawsuit on Thursday (since evidence was shown that the city prevented Clay from having a Good Faith Reception from the state of WA - essentially RICO against the City and particularly Slade The Blade, City officials, and the 'new' ownership)

Downsides:
The settlement did not immediately dismiss Howard Schultz lawsuit and there is a possibility he might file an injunction to stop the move. But he'd have to put up a HUGE sum of money (since the settlement amount could top 75M, I'd assume his bond would top 100M, and Howard Schultz is NOT rich like Bill Gates, Ballmer, or even McClendon, Bennett, and Ward).

Ford Center wont be complete

Clay might still have to pay a class action settlement that was filed by sonics fans, who think they were duped into getting season tickets. I dont recall the Sonics saying, hey - if you buy season tix, we will stay. Yet, that essentially is what the class action is stating they were led to believe. I think, Clay might owe them a refund, but that's it.

Those are the only three real downsides, but like I said before - I and MOST others here think Howard will drop his lawsuit. Especially since Pechman will be the same judge, and she heard the dirt dished against the city. How could Clay attempt a good faith effort with the city, Slade, and others manipulating things behind the scenes? This came out in the city's case, and IMO (and many others) virtually eliminates Howard's case.

Nevertheless, CONGRATULATIONS OKLAHOMA CITY - THE TRUE RENAISSANCE CITY!

CONTINUE THE RENAISSANCE - ALWAYS!!!

__________________
Oklahoma City, RENAISSANCE CITY!