Don't Put Stock in Sonics Settlement Reports

If you've seen the news from The Oklahoman today that the city has been exploring a settlement with Clay Bennett, consider the article's source.

The only source for the report is councilmember Richard McIver, who is facing ethics charges for allegedly awarding a no-bid contract, and is said to be stepping down next year.

If the city and Bennett were having talks, McIver would be the last to know about them--and that's reflected in his statement to The Oklahoman's Darnell Mayberry: "I hear that they were trying to work one up but I didn’t know whether they were successful or not. And I thought it was around something where (the Sonics owners) were trying to get Seattle to involve Schultz’s suit withdrawal and that didn’t come out, so I guess it fell apart."

So, basically, McIver is making a "guess" about something he "thought" he "heard" and that he "doesn't know" what happened. Decide for yourself whether that's really "news," but somehow the Bennett-owned Oklahoman saw fit to print it. Brilliant.

The Stranger's intrepid city hall reporter, Josh Feit, who's been covering the trial for them, has a call in to McIver's people, maybe they can find out what the hell he's talking about.

Um...I take it all back.
Settlement reached. Press conference at 5pm.

Update... The city council has been briefed on the settlement, and one of Josh Feit's city hall sources implies pretty strongly that the Sonics are gone.

Update... Sherman Alexie on KJR: "I'm terrified. From every indication it seems like their gone. There's a huge absence in my life...I'm jealous of Portland--I just checked and they only have 350 season tickets left."

Update... The Times reports that Howard Schultz is refusing to drop his lawsuit as part of the settlement.

Update... The Times reports that a source says the Sonics will move to OKC in exchange for a settlement that could be as high as $75 million. Bennett would pay less if the city were to get a new team.

Update... Kevin Calabro on KJR. He sounds absolutely devastated. "I never thought it would come to this." Calabro mentions that Steve Ballmer said that basketball was likely gone in an interview in the Sunday times. "It was tough to read that."