Disclaimer: I don't give a shit about basketball and never have, as you can probably tell, and I don't care if you do like basketball.
Good riddance. Pro sports franchises are leeches, making ever-greater demands of their host cities for ridiculously expensive stadiums paid for on the public dollar, and most local governments are usually happy to fall all over themselves throwing their electorate's money at the team to keep the franchise in town, no matter how badly the team sucks. (The Sonics went 20-62 this past season, the second-worst record in the NBA.) Kudos to Seattle for bucking the trend. As one commenter points out, Seattle wanted to keep the team in town without ponying up the cash - have its cake and eat it too. I'm glad the city decided to take the money and let the Sonics run. Seattle can find other uses for the money it'll be saving and the money it'll get from this settlement. The Viaduct... public housing... schools... transit... the community colleges... so many possibilities. I'm sure that's not how the budget works, but really, Seattle has so many things that need fixing that are way higher-priority than paying to let a bunch of overgrown 20-year-olds run around bouncing a ball.
Also, memo to Howard Schultz: STFU. You threatened to leave, the city called your bluff, you made a deal with the Okies, and now the Okies want what's theirs. You knew what you were doing; don't turn around now and try to get out of your contract because you changed your mind. The head honcho of one of the main symbols of American capitalism should show more respect for negotiation and contract. And on the other hand, given Starbucks' ruthless reputation, I don't see how you can whine about "good faith and fair dealing" with a straight face.
From now on, Seattle basketball fans can go to Blazers games to get their NBA fix if they want. (The idea of a bunch of Seattleites going to dinky ol' Portland for something, instead of the flow happening other way around, tickles me.) Or they can root for the Oklahoma City Insert Name Heres, whatever. This is a good day for Seattle, and for OKC as well. I hope OKC enjoys its new basketball team, and that the team doesn't suck so appallingly hard next season.