News conference at 7 PM Oklahoma time (the judge in the trial was supposed to rule at 8 PM CDT).
They have been in very intense negotiation since it became apparent that the Sonics' attorneys had administered a beatdown of epic proportions in court. The city began negotiating in earnest, however Sonics' OKC-based owners would not settle until the Howard Schultz case against them was dropped.
He has agreed to end his case, and this clears the way for a settlement, which has now been signed and will be announced shortly.
Or, at least, that's what I have been told.