Oklahoma City will be getting a new downtown arena.
OKC voters overwhelmingly threw their support behind the new facility and approved a new home for the Oklahoma City Thunder in the coming years.
The margin of victory was wide, with 71% of voters throwing their support behind the proposition.
“Tonight, we told the nation, we told the world, that Oklahoma City is and shall remain a Big League City,” Mayor David Holt said.
Holt has been a major cheerleader for the Vote Yes campaign. He said before the election if voters passed the deal, the team would agree to stay in Oklahoma City through 2050. At present, the squad is obligated to remain in OKC through 2026.
Oklahoma City’s Paycom Center has been the home venue of the Thunder since 2008 when the team came to the city. It opened in 2002 and is one of the smallest arenas in the NBA.
The new arena will cost at least $900 million to build, with $70 million planned to come from MAPS 4 funds and $50 million from the owners of the team. The remaining funds — representing more than $700 million — will come from a 72-month one-cent sales tax. It’s a deal that some economists have panned.
In a statement sent to reporters, NBA Commissioner Adam Silver praised the deal.
“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,” Silver said in the statement. “This vote for a new arena is another example of that bond.”
The targeted opening date is for the 2029-2030 NBA season.
