Seattle Group Trying to Save Sonics

A Seattle group is trying to keep the NBA franchise in their city, but are facing time constraints. Meanwhile, Oklahoma City voters have extended a sales tax to pay for facilities.

There is more private money. There are local investors. There are no tax hikes. There just might not be enough time to keep the SuperSonics in Seattle.

A group of four local businessmen announced a proposal Thursday to buy the basketball team from its Oklahoma City-based ownership group and pay for half of a $300 million renovation of KeyArena.

But the offer is contingent on the passage of legislation by state lawmakers, and their session ends next week. Any bill viewed as financially aiding the Sonics is controversial.