The Seattle Supersonics and the WNBA’s Seattle Storm have been sold for a combined $350 million. The new ownership group says they have no immediate plans to move the franchise, but there are ongoing rumors that Oklahoma City (where the new ownership is based) would like to have a permanent NBA franchise when the Hornets return to New Orleans.

Paul Pierce (who recently signed a three-year, $60 million extension) has come up with a short list of players he’d like to see the Boston Celtics try to acquire. Pierce gave his approval over the talks of bringing in Allen Iverson if possible and he also told the Boston Globe he’d like them to go after Carlos Boozer and Morris Peterson.

The Milwaukee Bucks are struggling to trade Jamaal Magliore. After acquiring Charlie Villanueva to play next to Andrew Bogut, the team has been actively trying to trade the former All-Star. GM Larry Harris is reluctant to just give away the center, and hopes to get a player in return that is at least equal in value.
A quick round-up of the signings taking place in the NBA: the Phoenix Suns are going to get Marcus Banks for five years and $21 million. Vassillis Spanoulis is about to sign a three-year deal for over $5 million which will give him one of the largest second-round rookie contracts in history. The Washington Wizards intend to keep Jared Jeffries. Nene seems to be having second thoughts on signing his deal with the Nuggets. Alexander Johnson and Leon Powe each signed their respective rookie contracts with the Memphis Grizzlies and Celtics.