P-I: Sources: Sonics Sold to Oklahoma City
Times: Sonics Sold to Oklahoma City Group
There's 3pm news conference to discuss details of the sale.
Here's a wonderful example of corporate leadership, from the Times article:
In a meeting with team employees this morning, Sonics officials said they were committed to keeping the team in Seattle although they declined to give specifics on how that would happen.



That's awful news. I just hope they keep them here in Seattle.
ESPN.com is running a story that is using the verbiage of "agreed to buy". I guess it's not official yet, and if I were a bettin' man I'd bet to see King County bend over and open wide in the next few days.