Howard Schultz sold the Sonics for $350 million (after buying them 5 years ago for $200). He referred to it as a "small profit" on local radio show. Geez, I wish I could earn that small profit.
The Sonics have suffered operating losses since Schultz and others bought the team. They blame the facility and the lease agreement but they knew lease terms when they bought the team. So either Schultz and company screwed up the due diligence before buying the team or they suck at managing the team (or both). Considering that the team was successful for the previous 34 years, I would assume it's the latter. If you look at the team's record, you would see that they lost more games each year except for one. (Imagine Starbucks losing money every year and Schultz blaming it on their lease deals...) Steve Kelley of the Seattle Times wrote an opinion piece blaming Wally Walker, CEO and President of the Sonics. Frank Hughes of the News Tribune lays some of the blame on Schultz.
My guess is that 5 years after the Sonics move to Oklahoma, they'll be the Tampa Bay Devil Rays of the NBA. A crappy team that no one goes to see.