SEATTLE -- The final long-shot at bringing the Supersonics basketball team back to Seattle is over.

Former Seattle SuperSonics owner Howard Schultz is dropping his lawsuit against new team owner Clay Bennett, ending an attempt to return the team from its new home in Oklahoma City.

After two recent rulings in Schultz's lawsuit went in favor of Bennett, the Starbucks CEO filed a motion for dismissal Friday in federal court.

Last week, U.S. District Judge Marsha Pechman ruled in Seattle that the NBA could intervene in the lawsuit. She also denied Schultz's motion to split the trial into two separate phases: a liability phase and, if needed, a remedy phase. The trial was scheduled for June 15.

Schultz said the city of Seattle's settlement with Bennett, allowing the Sonics to move to Oklahoma City in time for the 2008-09 season, hampered his case. He also feared that furthering the legal battle could anger the NBA and hurt efforts to get a new team in Seattle in the future.

Meanwhile, truckloads of gear that used to belong to the Supersonics are now at the team's new home in Oklahoma City. The trucks were loaded with everything from office furniture to big-screen TVs and they left Seattle on Tuesday.

The team still needs a new name and new team colors. The team formerly known as the Sonics wore simple black and white uniforms during summer league play.

The owners will announce new team colors and their new name next week. So far the owners have applied for trademarks for six names: thunder, energy, wind, marshals, barons and bison.