The local rumor mills, online and on AM radio and in person, have been all a-flutter this past week over the mere hint of possibility, that men’s pro basketball could again be played in Seattle.

The facts: The league took over running the New Orleans Hornets from the team’s fiscally embattled owner. The team’s arena lease could legally be broken after this season.

All else is speculation.

Could MS mogul Steve Ballmer buy the team, move it here, and along the way pickup rights to the SuperSonics logos and trademarks (now held by NBA Properties)?

Maybe.

Also maybe, the league could fold the Hornets. Or sell them to a New Orleans group. Or move ’em to some other town.

Or the whole league could be shut down in a labor dispute next season, for who knows how long.