OKLAHOMA CITY (CelebrityAccess) – Oklahoma City (OKC) voters overwhelmingly approved (71% in support) extending a penny sales tax to build a new, publicly owned arena, also securing OKC as the home to the Oklahoma City Thunder beyond 2050.
The new arena will be funded by a 72-month, one-cent sales tax starting when the current MAPS 4 tax ends and will not increase the current sales tax rate. Financing will also include $70 million in MAPS 4 funding and $50 million from the Oklahoma City Thunder ownership group. The city agreed to spend a minimum of $900 million on the arena. The new arena will be built downtown, with the exact location TBD.
The Oklahoma City Thunder will continue to play all home games at the Paycom Center until the new arena is open, no later than the start of the 2029-2030 NBA season. ASM Global currently manages the Paycom Center. CelebrityAccess (CA) contacted ASM to comment if they will have a deal or if an agreement is already in place for them to manage the new arena. Lucy Albers, Director of Marketing and Public Relations for ASM Global, responded, “There is not a contract for ASM Global to manage the new venue, but the ASM Global team has been very active working with the City of Oklahoma City and the OKC Thunder so the assumption is that we will be involved when movement is far enough along to create those contracts for all parties.” Additionally, since it is early in the process, an architect or design group has not been chosen – so there are no renderings as of press time.
The Thunder’s 25-year commitment to remain in OKC begins when they move into the new arena. Thunder has called OKC home since 2008. In 2023, the initial term of the 2008 use license agreement expired. The Thunder exercised an option to extend the deal for three years to allow time for the city to develop a plan for a new arena.
A statement from Clay Bennett, Chairman of Oklahoma City Thunder:
“We are deeply grateful for the confidence and pride our citizens have expressed in the future of our city. We also appreciate Mayor David Hold’s leadership and relentless passion to elevate Oklahoma City at all levels.
With this project, we will be doing more than just building a world-class sports and entertainment complex; we will be propelling Oklahoma City toward the next generation. This new home for the Thunder will serve as an iconic centerpiece of our vibrant and modern downtown and continue to represent our city’s and its people’s values.
As we take the next step in this historic journey, I am particularly grateful and energized by what this means for our city’s young people and the Oklahoma City they will lead and enjoy over the coming decades.”
