Sonics expect answer in a month

SEATTLE – The future of the SuperSonics playing in the city of Seattle could be decided within the month, the team said Tuesday.

In a letter to Seattle Mayor Greg Nickels and the City Council, team president Wally Walker said The Basketball Club of Seattle LLC would like to “come to closure on whether we will remain at KeyArena after 2010.”

“Doing so this month in the context of the Council’s ongoing process seems appropriate and reasonable,” Walker wrote.

The organization also stated for the first time how much it intended to contribute to a proposed $220 million renovation of the arena, saying it would pay for at least $18.3 million of the project and cover cost overruns.

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, blaming a revenue-sharing lease with the city of Seattle that lasts until 2010.

Unlike NBA rivals, the Sonics’ don’t keep the revenue from luxury suites, parking and concessions at home games. NBA commissioner David Stern last week said that inaction on the issue has shown that the city is “not interested in having the NBA there.”

Walker wrote that the outlined proposal is not to be viewed as an opening offer leading to negotiations.

“If it is not a realistic possibility that our requirements can be met, we both need to move on,” he wrote.

Along with the arena renovations, Walker also outlined what the organization considers an industry-standard lease. If improvements are made, the Sonics would enter into a new 20-year lease with the city; would manage and operate the arena and pay rent to the city at no less than $1 million per year; and would take on all operating risk of the arena, including payment of all operating costs and routine maintenance. In return, the organization would keep all revenues derived from operations.