Sonics' co-owner Clay Bennett admitted mistakes in dealing with the city of Seattle when he bought the team back in 2006, according to The Associated Press.

"We bought this team with grand visions for success," he said Wednesday. "Did we do everything right, and did we understand everything there was to understand? Certainly not."

Bennett began his second day on the witness stand in a federal trial over the team's lease at KeyArena but didn't specify his mistakes.