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Sonics' Wally Walker resigning

05:23 PM PDT on Thursday, October 26, 2006

Associated Press

KING 5

Wally Walker

SEATTLE - Current Seattle SuperSonics team president Wally Walker said Thursday he will resign effective Oct. 31 when the team's sale to the Professional Basketball Club LLC is completed.

"I've enjoyed more than 19 years with the Sonics organization in a variety of roles and the last 12-plus years as a minority owner. I'm humbled by the opportunities and experiences I've had with the Sonics, and I'm very proud of this organization," Walker said in a statement from the team.

Since 2001, Walker served as team president and CEO, and was a member of the Basketball Club of Seattle LLC, the previous owners of the Sonics headed by Starbucks chairman Howard Schultz.

Walker's departure has been speculated since the sale of the Sonics to Oklahoma City businessman Clay Bennett. The sale was approved by the NBA Board of Governors on Tuesday and the transaction will be finalized Oct. 31.

"I want to express my deep appreciation to Wally for his many valuable contributions to the Sonics and Storm over an impressive 19-year career. We will always consider him a part of the family, and know he will share in what we believe will be a great future for the organization. We wish him and his family the very best," Bennett said.

As a player, Walker spent five seasons with the Sonics from 1977-1982. He returned to the organization in July 1994 as general manager.