Bennett is the chairman of the
Oklahoma City-based Professional Basketball Club LLC (PBC), which owns the
NBA's
Oklahoma City Thunder. Formerly known as the
Seattle SuperSonics, the team was purchased from
Howard Schultz in 2006 for approximately $350 million with Bennett promising a good-faith effort to keep the team in Seattle, provided there would be a public commitment to a new arena. After failing to get $500 million in public funding from local taxes to build a new suburban arena for the team, Bennett notified the NBA on November 2, 2007, of the ownership group's intent to move the team to Oklahoma City. On March 21, 2008, Bennett made known his plan to relocate the basketball franchise. On April 18, 2008, NBA owners gave approval to move the franchise from Seattle for the 2008–2009 season pending the outcome of the city's case to uphold the lease and the former ownership group's lawsuit to
rescind the purchase. On July 2, 2008, Bennett's ownership group reached a settlement agreement in the lawsuit filed by the city of Seattle, thus allowing the franchise to move from Seattle to Oklahoma City. On April 15, 2011, Bennett was named chairman of the NBA's relocation committee. On May 15, 2013, Bennett was a part of the board of governors that voted, 22–8, against a proposed relocation of the
Sacramento Kings to Seattle. == Personal life ==