The last remaining chance of rekindling the Seattle SuperSonics as they were in 2007-2008 just closed, with former owner Harold Schultz on Friday dropping his lawsuit against Clay Bennett  and the Professional Basketball Club, according to a report in the Seattle Post-Intelligencer.

In a letter to his partners, Schultz said two recent rulings by District Judge Marsha Pechman made his case more difficult, and as a result, "our legal team and I no longer believe we can be successful with this litigation."

Schultz was trying to unwind the sale of the team to the Professional Basketball Club, who in turn moved the team away from Seattle to Oklahoma City.  Schultz claims he was misled, and that Bennett's group were never serious about keeping the team in Seattle.

"We are pleased to now be able to move on," Bennett said in a statement. "We look forward to an exciting future of NBA basketball in Oklahoma City."