The Thunder are close to getting a new home.
A plan has been finalized to construct a new downtown arena that will keep them in Oklahoma City until at least 2050, according to an Oklahoma City government press release. The city and the Thunder plan to open the arena for the 2029/2030 NBA season, if not sooner.
The plan for the new arena and the commitment from the Thunder is conditional on passage by Oklahoma City voters on December 12 of a temporary one-cent sales tax. A simple majority of Oklahoma City’s city council is required to call for the December 12 vote, and a simple majority of voters is required for passage.
The Thunder’s current arena, Paycom Center, is the smallest in the NBA by square footage and it has the second-smallest capital investment of all NBA arenas. The project cost for the new arena will be a minimum of $900MM.
The franchise’s owner will make a $50MM contribution for the publicly owned arena. All three of Oklahoma City’s previous downtown arenas have been paid for entirely by taxpayers.
“Perhaps the most important aspect of the deal is the length – this is twice the commitment we received in 2008 and will keep the Thunder here beyond 2050,” mayor David Holt said. “My children will be my age when this agreement ends.”
The Thunder will continue playing at Paycom Center while the new arena is designed and constructed. The Thunder have committed to play their home games in OKC for 25 years in the new arena, provided the voters approve the funding for a new arena and related legal documents are completed.
The current arena opened in 2002.
Billionaires making the average person pay for their toys is such a shady way to get a new arena…
Just like that Ferrari they buy on credit, people who will never see a Thunder game will pay for that toy…
Welcome to America.
In fairness they’re extending a tax that was about to end (MAPS4 which is specifically used for city improvements/infrastructure) so in reality the taxpayers won’t see any difference or raise in taxes.
Also this has to be voted on by the citizens….so if they want it, and want to pay for it, why is that so bad? If it’s so evil and horrible, they’ll just vote no and the thing won’t get built.
Never underestimate the power of stupid people…
Democracy is marketed as a choice for the informed…
Yet there is decades of politics that show this is not the case…
Not really a good retort nor does it address any facts I presented. If you just wanna spew negative nonsense that isn’t accurate help yourself I guess.
Billionaires who are awarding contracts to players for hundreds of millions of dollars have the hardworking taxpayers paying for an arena that they don’t need.
Basically taxpayers funding a $1 billion arena so OKC has a shiny new place to play 41 games per year.
The majority of taxpayers in OKC can’t even afford the ticket prices for the games …. Yet they have to help pay for the arena??
An arena that will allow them to charge even more $$$$ for tickets and concessions.
Love how the article mentions how OKC has the 2nd smallest arena and capital investment. So What! Somebody has to hold those spots. Because of that …. OKC taxpayers have to fork over $1 billion for a new arena?
Capitalism.
Last in attendance. If anything OKC should be downsizing their arena.
This is extra depressing news. Why can’t more teams be proud of the stadium they have used for decades? There is going to only be 1 soldier field, fenway park, or msg but the other stadiums should try and be used the same instead of wasting $ to fix what isn’t broken.
Billionaires need a shiny, new arena … Then they get to raise prices really high. Especially on concessions. Basically, a Playground for the Rich, that is paid for primarily by people who can’t afford a ticket to the game. You know those who can’t afford a ticket are supposed to be just happy that OKC now has a Big Time arena. They can take selfie in front of it.
Welfare for the rich.
Will ultimately be paying SGA $300+ million and likely Giddey $300+ million. Yet can’t pay $900 million over 25 years for a new arena????
Seattle’s Key arena, freshly painted as climate pledge is just waiting to be heavily used n abused .. kraken, storm & seacamels?
Seacamel lol
That arena is privately financed iirc. A lot better than this 5% contribution.
This is an insult to Oklahoma Citizens. Not even a proper 15% tip! Ownership must be dissatisfied with their fans.
Wtv happened to “you go woke , you go broke”?
EAT THE RICH
$50 million from the owners? Seriously, how cheap and insulting are they?
This ownership are obviously bums, and the good people of Oklahoma City are better off without an NBA team than being proven to be suckers.
Facts