An Oklahoma City group has agreed to buy the Seattle SuperSonics and the Seattle Storm.

In February, majority owner Howard Schultz threatened to possibly move or sell the city's oldest major league professional sports franchise, saying the team has lost about $60 million in the past five years

The team scheduled a 3 p.m. press conference to officially announce the sale. Sources indicate the new ownership group plans to keep the Sonics and Storm in the Seattle region.

Via Seattlepi.com

Oklahoma City

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