Clay Bennett (businessman)

Last updated
Clay Bennett
Born
Clayton Ike Bennett

1959 (age 64–65)
Oklahoma City, Oklahoma, U.S.
Occupation(s)Chairman, Dorchester Capital
Chairman, Professional Basketball Club LLC
SpouseLouise Gaylord Ennis (m. 1981)

Clayton Ike [1] Bennett (born 1959) [1] is an American businessman and chairman of the Professional Basketball Club LLC, the ownership group of the Oklahoma City Thunder, an NBA franchise formerly known as 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 and served as chairman of the Board of Regents of the University of Oklahoma from 2011–2019. [2] [3] [4]

Contents

Early business career

Bennett was one of the owners of the San Antonio Spurs in the mid-1990s, where one of his primary duties was to represent the team on the NBA Board of Governors. Immediately before 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.

Oklahoma City Thunder

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, [5] Bennett notified the NBA on November 2, 2007, of the ownership group's intent to move the team to Oklahoma City. [6] [7] [8] On March 21, 2008, Bennett made known his plan to relocate the basketball franchise. [9] The NBA commissioner David Stern was supportive of the move to send a message to all cities that if you do not subsidize the NBA then you could lose your team like Seattle. On April 18, 2008, NBA owners gave approval for moving 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. [10] 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. [11] [12]

On April 15, 2011, Bennett was named chairman of the NBA's relocation committee. [13]

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. [14]

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. As of August 2021, Bennett's daughter-in law, Alex Bennett, entered an agreement with Barstool Sports to create digital content. [15] Bennett's in-laws also have ties to professional sports ownership, as the Gaylords once owned a minority share of the Texas Rangers—a share which was later sold to future Republican President George W. Bush. Bennett is a Republican. [16] Bennett is chairman of a task force identifying and seeking criminal justice reforms to alleviate jail overcrowding in Oklahoma City. [17]

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References

  1. 1 2 "Unwanted attention: The man who will take over the SuperSonics franchise reluctantly puts himself in the spotlight". The News Tribune . Archived from the original on August 2, 2008. Retrieved 2008-03-25.
  2. ↑ "The University of Oklahoma – Board of Regents". OU.edu. University of Oklahoma. June 18, 2013. Retrieved December 22, 2013.
  3. ↑ "Bennett added to OU board". okcfriday.com. Nichols Hills Publishing. Retrieved December 22, 2013.
  4. ↑ "Clay Bennett resigns from OU Board of Regents Citing Health Concerns". KOCO. January 30, 2019. Retrieved January 30, 2019.
  5. ↑ "Sonics present plans for new arena". seattlepi.com. 2007-01-19. Retrieved 2009-11-03.
  6. ↑ "Sonics tell NBA of intent to move SuperSonics to Oklahoma City". ESPN.com . 2 November 2007. Retrieved 2008-03-25.
  7. ↑ "Bennett: Seattle arena costs projected around $500 million". The Oklahoman . Retrieved 2008-04-20.
  8. ↑ Allen, Percy (2007-05-20). "An interview with Clay Bennett, owner of Sonics". Seattle Times . Retrieved 2021-11-29.
  9. ↑ "Sonics owners willing to leave behind team name if franchise moves". The Seattle Times . Archived from the original on 2008-07-12. Retrieved 2008-03-25.
  10. ↑ "NBA owners approve Sonics' move, pending litigation". ESPN.com . 18 April 2008. Retrieved 2008-04-19.
  11. ↑ "Sonics, city reach settlement". The Seattle Times. July 2, 2008. Archived from the original on 2009-05-01. Retrieved July 2, 2008.
  12. ↑ "Howard Schultz plans to sue Clay Bennett to get Sonics back". seattletimes.nwsource.com. April 15, 2008. Retrieved 2012-02-11.
  13. ↑ Ziller, Tom (April 15, 2011). "NBA Relocation Committee Considering Sacramento Kings' Anaheim Move Filled With Small Market Owners". SBNation.com. Retrieved April 16, 2011. During this week's owners meetings in New York City, the Board of Governors made Bennett the committee's chairman.
  14. ↑ Golliver, Ben (May 15, 2013). "NBA committee recommends rejecting Kings move". Sports Illustrated. Time Inc. Retrieved July 4, 2020.
  15. ↑ "Twitter post". Twitter. Archived from the original on 2021-08-05. Retrieved 2021-08-21.
  16. ↑ "Sonics' owner hopes to have arena plan by year's end". CBSSports.com. Archived from the original on July 12, 2008. Retrieved March 25, 2008.
  17. ↑ Cosgrove, Jaclyn (December 14, 2016). "Jail task force calls addiction, mental health services crucial". NewsOK.com. Retrieved December 7, 2017. Business leader and Thunder Chairman Clay Bennett, who led the chamber's task force, said at Wednesday's press conference that Oklahoma leaders must address not only infrastructure and communication issues but also how to fund treatment for Oklahomans with mental illness and substance use disorders.
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