Clayton Bennett
Encyclopedia
Clayton "Clay" Ike' Bennett (born 1959) is an American
businessman and chairman of the Professional Basketball Club LLC
, the ownership group of the Oklahoma City Thunder
NBA
franchise that was formerly the Seattle SuperSonics
. Bennett is the chairman of Oklahoma City-based Dorchester Capital Corporation, as well as the chairman emeritus
of the board of directors
of the Oklahoma Heritage Association.
in the mid-1990s, where one of his primary duties was to represent the team on the NBA Board of Governors. Immediately prior to the 2005-06 NBA season
, Bennett, along with Aubrey McClendon
of Oklahoma City-based Chesapeake Energy
Corporation, Tom L. Ward
of Oklahoma City-based SandRidge Energy
Corporation, and G. Jeffrey Records Jr. of Oklahoma City based MidFirst Bank, partnered with the City of Oklahoma City
and the State of Oklahoma
in providing a revenue guarantee for the NBA's New Orleans Hornets. This resulted in the relocation of the Hornets to Oklahoma City for two seasons. The temporary relocation to Oklahoma City stemmed from damage to the arena and infrastructure in New Orleans caused by Hurricane Katrina
.
's Oklahoma City Thunder. The team was purchased from Howard Schultz
in 2006 for approximately $350 million. At the time, the team was known as the Seattle SuperSonics
. After failing to get half a billion dollars in public funding for building a new suburban arena for the team from local taxes, 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 that would relocate the basketball franchise without them retaining rights to the original team name, logo, colors, and history. On April 18, 2008, the NBA owners gave approval for moving the franchise for the 2008–2009 season from Seattle 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 move of the franchise from Seattle to Oklahoma City.
In April 2011, Bennett was named chairman of the NBA's relocation committee.
—a share which was later sold to future Republican President
George W. Bush
. Bennett is also a Republican.
In 2000, Bennett pleaded guilty to a charge of driving under the influence
. He was given a one year deferred sentence and 24 hours of community service.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
businessman and chairman of the Professional Basketball Club LLC
Professional Basketball Club LLC
Professional Basketball Club LLC is an investment group headed by Clayton Bennett that owns the Oklahoma City Thunder and Tulsa 66ers....
, the ownership group of the Oklahoma City Thunder
Oklahoma City Thunder
The Oklahoma City Thunder are a professional basketball franchise based in Oklahoma City, Oklahoma. They play in the Northwest Division of the Western Conference in the National Basketball Association ; their home court is at Chesapeake Energy Arena....
NBA
National Basketball Association
The National Basketball Association is the pre-eminent men's professional basketball league in North America. It consists of thirty franchised member clubs, of which twenty-nine are located in the United States and one in Canada...
franchise that was formerly the Seattle SuperSonics
Seattle SuperSonics
The Seattle SuperSonics were an American professional basketball team based in Seattle, Washington that played in the Pacific and Northwest Divisions of the National Basketball Association from 1967 until 2008. Following the 2007–08 season, the team relocated to Oklahoma City, and now plays as...
. Bennett is the chairman of Oklahoma City-based Dorchester Capital Corporation, as well as the chairman emeritus
Emeritus
Emeritus is a post-positive adjective that is used to designate a retired professor, bishop, or other professional or as a title. The female equivalent emerita is also sometimes used.-History:...
of the board of directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
of the Oklahoma Heritage Association.
Early business career highlights
Bennett was one of the principal owners of the San Antonio SpursSan Antonio Spurs
The San Antonio Spurs are an American professional basketball team based in San Antonio, Texas. They are part of the Southwest Division of the Western Conference in the National Basketball Association ....
in the mid-1990s, where one of his primary duties was to represent the team on the NBA Board of Governors. Immediately prior to the 2005-06 NBA season
2005-06 NBA season
The 2005–06 NBA season was the 60th season of the National Basketball Association. It began on November 1, 2005 and ran through April 19, 2006...
, Bennett, along with Aubrey McClendon
Aubrey McClendon
Aubrey Kerr McClendon is the chief executive officer, chairman, and co-founder of Chesapeake Energy Corporation . He is an outspoken advocate for natural gas as a cleaner and safer alternative to oil and coal fuels...
of Oklahoma City-based Chesapeake Energy
Chesapeake Energy
Chesapeake Energy is the second largest producer of natural gas in the United States, a top 15 producer of U.S. liquids and the most active driller of new wells, according to an November 2011 investor presentation. It recorded 3Q 2011 natural gas production of an average of approximately of...
Corporation, Tom L. Ward
Tom L. Ward
Tom L. Ward is a prominent Oklahoma City businessman. He is the chairman and CEO at SandRidge Energy and is the former President, COO and co-founder of Chesapeake Energy...
of Oklahoma City-based SandRidge Energy
SandRidge Energy
SandRidge Energy is an oil and natural gas exploration company headquartered in Oklahoma City, Oklahoma.SandRidge was founded in 1984 as Riata Energy, Inc. In 2006, the company changed its name to SandRidge Energy. The company concentrates its exploration efforts in the West Texas Permian Basin...
Corporation, and G. Jeffrey Records Jr. of Oklahoma City based MidFirst Bank, partnered with the City of Oklahoma City
Oklahoma city
Oklahoma City is the capital and largest city of the U.S. state of Oklahoma.Oklahoma City may also refer to:*Oklahoma City metropolitan area*Downtown Oklahoma City*Uptown Oklahoma City*Oklahoma City bombing*Oklahoma City National Memorial...
and the State of Oklahoma
Oklahoma
Oklahoma is a state located in the South Central region of the United States of America. With an estimated 3,751,351 residents as of the 2010 census and a land area of 68,667 square miles , Oklahoma is the 28th most populous and 20th-largest state...
in providing a revenue guarantee for the NBA's New Orleans Hornets. This resulted in the relocation of the Hornets to Oklahoma City for two seasons. The temporary relocation to Oklahoma City stemmed from damage to the arena and infrastructure in New Orleans caused by Hurricane Katrina
Hurricane Katrina
Hurricane Katrina of the 2005 Atlantic hurricane season was a powerful Atlantic hurricane. It is the costliest natural disaster, as well as one of the five deadliest hurricanes, in the history of the United States. Among recorded Atlantic hurricanes, it was the sixth strongest overall...
.
Owner of the Oklahoma City NBA franchise
Bennett is the chairman of the Oklahoma City-based Professional Basketball Club LLC (PBC), which owns the NBANational Basketball Association
The National Basketball Association is the pre-eminent men's professional basketball league in North America. It consists of thirty franchised member clubs, of which twenty-nine are located in the United States and one in Canada...
's Oklahoma City Thunder. The team was purchased from Howard Schultz
Howard Schultz
Howard Schultz is an American business magnate. He is the best known as the chairman and CEO of Starbucks and a former owner of the Seattle SuperSonics...
in 2006 for approximately $350 million. At the time, the team was known as the Seattle SuperSonics
Seattle SuperSonics
The Seattle SuperSonics were an American professional basketball team based in Seattle, Washington that played in the Pacific and Northwest Divisions of the National Basketball Association from 1967 until 2008. Following the 2007–08 season, the team relocated to Oklahoma City, and now plays as...
. After failing to get half a billion dollars in public funding for building a new suburban arena for the team from local taxes, 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 that would relocate the basketball franchise without them retaining rights to the original team name, logo, colors, and history. On April 18, 2008, the NBA owners gave approval for moving the franchise for the 2008–2009 season from Seattle pending the outcome of the city's case to uphold the lease and the former ownership group's lawsuit to rescind
Rescission
In contract law, rescission has been defined as the unmaking of a contract between parties. Rescission is the unwinding of a transaction. This is done to bring the parties, as far as possible, back to the position in which they were before they entered into a contract .-In court:Rescission is an...
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 move of the franchise from Seattle to Oklahoma City.
In April 2011, Bennett was named chairman of the NBA's relocation committee.
Personal life
Bennett is married to Louise Gaylord Bennett, the daughter of Oklahoma City media mogul Edward L. Gaylord. Bennett and Louise Gaylord were high school sweethearts, meeting when he was a sophomore and she was a freshman. They have three children. Bennett's in-laws also have ties to professional sports ownership, as the Gaylords once owned a minority share of the Texas RangersTexas Rangers (baseball)
The Texas Rangers are a professional baseball team in the Dallas-Fort Worth Metroplex, based in Arlington, Texas. The Rangers are a member of the Western Division of Major League Baseball's American League, and are the reigning A.L. Western Division and A.L. Champions. Since , the Rangers have...
—a share which was later sold to future Republican President
President of the United States
The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....
George W. Bush
George W. Bush
George Walker Bush is an American politician who served as the 43rd President of the United States, from 2001 to 2009. Before that, he was the 46th Governor of Texas, having served from 1995 to 2000....
. Bennett is also a Republican.
In 2000, Bennett pleaded guilty to a charge of driving under the influence
Driving under the influence
Driving under the influence is the act of driving a motor vehicle with blood levels of alcohol in excess of a legal limit...
. He was given a one year deferred sentence and 24 hours of community service.
External links
- Where the Thunder Comes Dribbling Down the Plain, New York Times, October 25, 2008