Barry Ackerley sells Seattle SuperSonics to an investment group led by Howard Schultz (Starbucks) on January 11, 2001.

On January 11, 2001, Barry Ackerley, owner of the Seattle SuperSonics NBA franchise, reaches an agreement to sell the team to an investment group led by Starbucks Corporation founder Howard Schultz. The sale price is reported to be $200 million and includes the WNBA's Seattle Storm as well as Full House Entertainment, the business arm of the Sonics and Storm.

Changing Hands

Among the other new investors in the team were Sonics general manager Wally Walker, who played on the team from 1978-1982, and VoiceStream wireless CEO John Stanton. But Schultz emerged as the face of the new ownership, proclaiming at a news conference announcing the sale that, "I have a passion for the Sonics. I look forward to doing everything humanly possible ... to bring a world championship back to Seattle."

Ackerley, who owned the team since 1983, was choked up at times during the news conference. "We are happy we found such experienced and enthusiastic new owners for the team," he said. "When we reached the decision to sell the team, one of our biggest concerns was that the Sonics stay in Seattle. We are confident that ... we are leaving the team and fans in good hands." On January 12, 2001, the SuperSonics won their first game of the Schultz era against the Vancouver Grizzlies at KeyArena, 115-102.

Sources:
Ronald Tillery, "Schultz Takes Over Sonics," Seattle Post-Intelligencer, January 12, 2001, p. A-1; Jim Moore, "Sonics open Schultz Era with Victory Over Vancouver," Ibid., January 13, 2001, (Seattlep-i.com); www.supersonics.com (http://www.supersonics.com).

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Sources: Ronald Tillery, "Schultz Takes Over Sonics," Seattle Post-Intelligencer, January 12, 2001, p. A-1; Jim Moore, "Sonics open Schultz Era with Victory Over Vancouver," Ibid., January 13, 2001, (Seattlep-i.com); www.supersonics.com (http://www.supersonics.com).

Related Topics

Sources:
Ronald Tillery, "Schultz Takes Over Sonics," Seattle Post-Intelligencer, January 12, 2001, p. A-1; Jim Moore, "Sonics open Schultz Era with Victory Over Vancouver," Ibid., January 13, 2001, (Seattlep-i.com); www.supersonics.com (http://www.supersonics.com).