The group, led by businessman Clay Bennett, also acquired the WNBA Seattle Storm as part of the deal.

Bennett, who used to be on the board of directors for the San Antonio Spurs, was active in accommodating the Hornets when they were displaced by Hurricane Katrina and forced to play most of last season in Oklahoma City.

There was no word on whether Bennett and company planned to move the franchises to Oklahoma. The Sonics' lease for KeyArena with the city of Seattle expires in 2010.