On this day in 2008, Oklahoma City team officials unveiled the NBA team’s new name and logo. The former Seattle SuperSonics franchise is now known as the Oklahoma City Thunder. The team was acquired by Professional Basketball LLC from Starbucks founder Howard Schultz for $350 million. Since moving to Oklahoma City, the team has made the playoffs eight times in total. During the 2011-12 season, the Thunder made the NBA Finals, losing to the Miami Heat in five games. Overall, the team has faced quite a few disappointing playoff exits in recent years. The 2015-16 season saw the Thunder blow a 3-1 lead in the Western Conference Finals, and consecutive first-round exits in the following three years.