Residents of Oklahoma City overwhelmingly approved a proposal to use taxpayer dollars to fund the majority of a new arena for the Thunder, according to reports from Joe Mussatto of The Oklahoman and Sean Murphy of The Associated Press.
The vote, which occurred on Tuesday, asked OKC residents whether or not to approve a 1% sales tax that would fund approximately $850MM of the arena project. According to the Oklahoma State Election Board, 71% of the respondents voted in favor of the plan.
Under the proposed deal, Thunder owner Clay Bennett will also contribute $50MM to the construction of the arena, which is expected to cost around $900MM.
An exact location for the new building has yet to be determined, though mayor David Holt said finalizing that detail will be “one of the first orders of business.” According to Mussatto, the most likely location is the land currently occupied by Prairie Surf Studios (the former home of the Cox Convention Center).
The hope is that the new arena will be ready for the 2029/30 season. The Thunder have committed to play in the building for at least 25 years, which means the franchise would remain in Oklahoma City through at least 2054.
Since moving from Seattle to Oklahoma City in 2008, the Thunder (formerly the SuperSonics) have played in the Paycom Center, which opened in 2002. OKC voters previously approved a sales tax to finance upgrades to that arena — that tax will remain in effect until April 1, 2028, which is when this newly approved tax will begin.
“A signature of the Oklahoma City Thunder, beyond the team’s success on the floor, has been their deep connection to their fans and their community,” NBA commissioner Adam Silver said in a statement (Twitter link via Joel Lorenzi of The Oklahoman). “This vote for a new arena is another example of that bond.
“We are grateful to the people of Oklahoma City for the confidence they have shown in both the Thunder and the NBA as we embark on a new era of global sports and entertainment.”