Schultz Drops Sonics Lawsuit

Last April, Schultz sued to regain ownership, contending Bennett failed to carry through on a promise to negotiate in good faith for a new arena in Seattle for one full year. Schultz had hoped to undo the sale so he could initiate a transfer of the team to a buyer who would keep it in Seattle.

"Seattle’s best chance for a professional basketball franchise is to end this litigation and allow the city, state Legislature and other parties to begin the necessary fence mending with the NBA.”

MSNBC