Update [2007-6-6 22:9:57 by Pradamaster]: Nevermind, Presti's the new GM, and Sheppard's back with the Wizards. Excellent.
Tommy Sheppard is still in the running at Seattle. Per the Seattle Post Intelligencer:
The final two candidates for the position are Presti and Washington Wizards vice president Tommy Sheppard. Both interviewed last week with team president Lenny Wilkens and owner Clay Bennett, and each made a positive impression.
Wilkens and the rest of the Sonics' brass are pondering their decision this week.
It goes on to say that each GM has different complications involved that are pushing back the hiring. Each will require additional compensation, and Presti may insist on bringing Spurs assistant coach P.J. Carlisemo with him, which may not be what Seattle wants (and, as explained here, probably isn't a good head coaching option). Phoenix assistant GM Dave Griffith has also emerged as a dark horse candidate.
I'm posting a lot on this because I'm incredibly intrigued by behind-the-scenes front-office news. Not that it's something I want to do, but it's the type of stuff you don't really hear about much during the season.
Anyway, I'm thinking they hire Presti anyway, but it's definitely not a done deal.