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<TABLE cellSpacing=8 cellPadding=0 width="100%" border=0><TBODY><TR><TD class=wiretap_key_header>Sonics Sold To Oklahoma City Group</TD></TR><TR><TD>18th July, 2006 - 3:52 pm</TD></TR><TR><TD> Seattlepi.com - 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. </TD></TR></TBODY></TABLE>
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<TABLE cellSpacing=8 cellPadding=0 width="100%" border=0><TBODY><TR><TD class=wiretap_key_header>New York Has Interest In Jeffries</TD></TR><TR><TD>18th July, 2006 - 4:42 am</TD></TR><TR><TD> New York Daily News - Knicks GM Isiah Thomas says he is not actively pursing deals for free agents, but, according to sources, the Knicks have had conversations with Jeffries' agent, Andy Miller, in recent days as negotiations between Jeffries and the Wizards have stalled.
Jeffries is considering accepting Washington's one-year qualifying offer for approximately $3 million, which would make him an unrestricted free agent next summer.
The Knicks can offer Jeffries their mid-level exception, starting at approximately $5.2 million. The Knicks are reluctant to add salary, but the 6-11 Jeffries, who can play four positions, would give the team a versatile player who is regarded as a strong defender. The 24-year-old Jeffries averaged 6.4 points and 4.9 rebounds in 77 games last season.
The Knicks' interest in Jeffries suggests that Thomas will not match the three-year, $7 million offer Jackie Butler received from the San Antonio Spurs . The Knicks have until tomorrow to decide on Butler's fate. By allowing Butler to leave, the Knicks would have one roster spot available.</TD></TR></TBODY></TABLE>
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<TABLE cellSpacing=8 cellPadding=0 width="100%" border=0><TBODY><TR><TD class=wiretap_key_header>Bucks Sign Point Guard Lynn Greer</TD></TR><TR><TD>18th July, 2006 - 10:15 pm</TD></TR><TR><TD>Milwaukee Journal-Sentinel - The Milwaukee Bucks signed point guard Lynn Greer to a two-year contract on Tuesday, the Milwaukee Journal-Sentinel is reporting.
The 26-year-old Greer has spent the past four seasons in Europe, and he averaged 22.6 points, 3.3 assists and 2.2 rebounds in 40 games for Carpisa Napoli of the Italian League last season. He shot 48.3% from the field and 91.3% from the free-throw line.
"I've been in four different countries in four years," Greer said after signing his deal at the Bucks training facility in St. Francis late Tuesday afternoon. "I just had a great experience over there, learning to play a different style of basketball. It was very beneficial to me."
Greer, a Philadelphia native, played four years under John Chaney at Temple before moving on to Europe. He also played in Greece, Poland and Russia.
"He (Chaney) was the first person I called when I found out I was coming here, because that's what he means to me," Greer said. "He has coached a lot of great players, some that are still in the league now. He's a legendary guy."</TD></TR></TBODY></TABLE>
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<TABLE cellSpacing=8 cellPadding=0 width="100%" border=0><TBODY><TR><TD class=wiretap_key_header>Bobcats Re-sign Point Guard Burleson</TD></TR><TR><TD>18th July, 2006 - 10:11 pm</TD></TR><TR><TD> Charlotte Observer - The Charlotte Bobcats have re-signed third-string point guard Kevin Burleson for next season.
The Bobcats chose not to make a qualifying offer that would have made Burleson a restricted free agent, but at the time earlier this month coach/general manager Bernie Bickerstaff said he was conferring with Burleson.
Burleson, who recently played on the Bobcats' summer-league team in Orlando, Fla., is expected to back up Raymond Felton and Brevin Knight.</TD></TR></TBODY></TABLE>
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<TABLE cellSpacing=8 cellPadding=0 width="100%" border=0><TBODY><TR><TD class=wiretap_key_header>Cavaliers Formally Announce Extension Of James</TD></TR><TR><TD>18th July, 2006 - 9:11 pm</TD></TR><TR><TD> Press Release - Cleveland Cavaliers forward LeBron James has signed a multi-year contract extension with the team, General Manager Danny Ferry announced today. The contract was signed in Las Vegas, NV today where James is preparing to train with the USA Basketball Men’s Senior National Team. Per the NBA’s Collective Bargaining Agreement, terms of the deal were not disclosed.
James was selected by the Cavaliers with the first overall pick in the 2003 NBA Draft. In 238 career games (all starts), James is averaging 26.5 points, 6.6 rebounds and 6.6 assists.</TD></TR></TBODY></TABLE>
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<TABLE cellSpacing=8 cellPadding=0 width="100%" border=0><TBODY><TR><TD class=wiretap_key_header>Cleamons Rejoins Lakers' Jackson Coaching Staff</TD></TR><TR><TD>18th July, 2006 - 6:34 pm</TD></TR><TR><TD> AP - Jim Cleamons has rejoined the Lakers as an assistant coach after working the last two seasons on the Hornets' staff.
An assistant under Phil Jackson from 1999-2004 in Los Angeles, Cleamons began his coaching career at Chicago in 1989 when Jackson was the Bulls' coach.
Cleamons left the Bulls in May of 1996 and was the Dallas Mavericks ' head coach for a year and a half, leaving with a 28-72 record.
"I am very pleased that Jim is returning to the Lakers coaching staff," Jackson said Tuesday in a statement.</TD></TR></TBODY></TABLE>
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<TABLE cellSpacing=8 cellPadding=0 width="100%" border=0><TBODY><TR><TD class=wiretap_key_header>Cook Undergoes Thumb Surgery After Injuring It On Monday</TD></TR><TR><TD>18th July, 2006 - 6:21 pm</TD></TR><TR><TD> SI.com - Brian Cook hurt his thumb Monday while playing basketball at a gym in Los Angeles and underwent surgery that evening, the team said on Tuesday.
Cook is expected to be ready for training camp.</TD></TR></TBODY></TABLE>
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<TABLE cellSpacing=8 cellPadding=0 width="100%" border=0><TBODY><TR><TD class=wiretap_key_header>BCOS Formally Announce Sale Of Sonics And Storm For $350 Million</TD></TR><TR><TD>18th July, 2006 - 6:16 pm</TD></TR><TR><TD> Press Release - The Basketball Club of Seattle (BCOS) announced today that it has signed a purchase agreement to sell its NBA Seattle SuperSonics and WNBA Seattle Storm for $350 million. The teams are being purchased by the Professional Basketball Club LLC, an Oklahoma City, Oklahoma based investment group led by Clayton I. Bennett, chairman of Dorchester Capital, a private investment company. Additional members of the group include Aubrey K. McClendon, Chairman and CEO, Chesapeake Energy Corporation; G. Jeffrey Records, Chairman of the Board and CEO, MidFirst Bank; Tom L. Ward, Chairman and CEO, Riata Energy, Inc., and G. Edward Evans, chairman, Syniverse Holding, Inc. The group will also consist of additional investors. The transaction is expected to close by the end of October of 2006.
“We have enjoyed the opportunity to own and operate the Sonics and the Storm for the past five seasons and are proud of what we’ve achieved both on and off the court,” said Howard Schultz, chairman of the Basketball Club of Seattle. “Since the majority of the Basketball Club of Seattle’s investors live and work in the Seattle community, it was extremely difficult for us to decide to sell the teams. As you may know, over the past two years, we have worked with local and state officials to seek a solution to the arena issues. However, it became more apparent that a new ownership group may be more successful in achieving the remaining goals of the Sonics and Storm.”
“We are grateful to have the opportunity to combine our passion for professional basketball and our abilities to build successful business enterprises,” said Bennett. “We thank the BCOS. They love this city and the Sonics and Storm. We appreciate the opportunity to lead a professional sports organization that has achieved the pinnacle of success within both the NBA and WNBA." </TD></TR></TBODY></TABLE>
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