Tag: OKC arena

Report: Possible location for new OKC Thunder arena will not renew its lease beyond 2025

Report: Possible location for new OKC Thunder arena will not renew its lease beyond 2025.

The Oklahoma City Thunder will soon have a new home following OKC’s overwhelming support to continue a one-cent tax that’ll help generate at least $850 million to pay for a new arena.

The publicly owned arena will open no later than the 2029-30 season, and the Thunder will sign a 25-year lease. The Thunder have called Paycom Center their home since their arrival in 2008. The arena opened in 2002 and is one of the smallest/oldest arenas in the NBA.

Following the election, the next step in this multiyear process is figuring out where the new arena would be located. A popular theory has been on the site of Prairie Surf Studios, which sits across the street from Paycom Center.

Although nothing is confirmed yet, that speculation gained more validity when it was reported Prairie Surf Studios would not extend its lease beyond 2025. It is currently located at the city-owned Cox Convention Center.

CEO of Prairie Surf Studios Rachel Cannon released the following statement on why the company will not renew its lease:

“We are grateful for the opportunity to use this city asset to develop a proof of concept that showcases the film industry’s potential to provide high-paying jobs, business growth, economic development, and excitement for our City and state. While the convention center wasn’t considered a permanent studio home, it exceeded our expectations in supporting high-level production with Tulsa King and now Twisters. We look forward to exploring the next chapter of Prairie Surf Studios. As the City noted, the arena site has not yet been decided on, nor are there any potential sites for us. We look forward to growing this homegrown “Hollywood” alongside the NBA as we build a brighter tomorrow for Oklahoma City and Oklahoma. Together.”

While an answer will not be found shortly, it appears Prairie Surf Studios is the most logical choice to begin construction on a new OKC arena.

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NBA commissioner Adam Silver comments on new OKC arena approval

NBA commissioner Adam Silver comments on new OKC arena approval.

OKC voters approved the proposal to build a new downtown arena that will house the Oklahoma City Thunder for several generations on Tuesday. An overwhelming 71% of voters voted in support of it.

The arena proposal approved included a $900 million cost for the publicly-owned venue with $50 million contributed by Thunder ownership. At least $70 million will come from the MAPS 4 project.

Once completed, the Thunder have pledged to sign a 25-year lease. The venue is scheduled to open by the 2029-30 season.

In the aftermath, Thunder fans celebrated on social media. Notable figures such as Thunder owner Clay Bennett released a statement on the election’s result. NBA commissioner Adam Silver also released a statement.

The approval likely means OKC is guaranteed to keep the Thunder for the long haul.

“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.  This vote for a new arena is another example of that bond,” per Silver’s statement.

“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.”

The approval means the Thunder will remain in OKC beyond their current three-year arena lease. The Thunder franchise relocated from Seattle in 2008.

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Thunder owner Clay Bennett comments on new OKC arena approval

Thunder owner Clay Bennett comments on new OKC arena approval.

OKC voters approved the funding proposal to build a new downtown arena that will house the Oklahoma City Thunder for the next generation on Tuesday. An overwhelming 71% of voters voted in support.

The arena proposal approved included a $900 million cost for the publicly-owned venue with $50 million contributed by Thunder ownership. At least $70 million will come from the MAPS 4 project.

Once completed, the Thunder have pledged to sign a 25-year lease, and the facility is projected to open by the 2029-30 season.

Following the lopsided election win, Thunder owner Clay Bennett, who helped move the franchise from Seattle to OKC in 2008, released the following statement:

“We are deeply grateful for the confidence and pride our citizens have expressed in the future of our city. We also appreciate Mayor David Holt for his 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 the values of our city and its people.

“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.”

Considering the magnitude of the vote, it was expected Bennett would release a statement in support of the election’s result. Following the vote, a fan base-wide celebration ensued on social media.

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Twitter reacts to OKC voting for new arena to keep OKC Thunder

Twitter reacts to OKC voting for new arena to keep OKC Thunder:

The Oklahoma City Thunder will remain in OKC for at least the next generation following Tuesday’s approval of a funding plan for a new arena.

Seventy-one percent of voters supported continuing a one-cent tax for six years to generate at least $850 million for the new arena. Thunder ownership will pay $50 million toward the construction cost.

OKC’s long-term 15-year lease for the Paycom Center expired this year, which led to the Thunder signing a three-year lease that ends in 2026.

Once the new arena is completed, the Thunder will sign a 25-year lease. The facility is projected to open by the 2029-30 season at the latest.

As one can imagine, the reaction among Thunder fans was euphoric. Let’s look at some of the best reactions on X, formerly known as Twitter:

BREAKING: OKC voters approve new OKC Thunder arena proposal

BREAKING: OKC voters approve new OKC Thunder arena proposal.

The Oklahoma City Thunder will remain in OKC for the foreseeable future following Tuesday’s voter approval to continue a one-cent tax for six years. Approximately 71% of the 57,926 ballots were in support of extending the tax to fund the construction of a new arena.

The vote caps more than a year of discussions and negotiations. It means the Thunder will get a new home to replace Paycom Center, which has been the home of the Thunder since they arrived in 2008.

The ballot proposal called for the tax extension and the creation of an arena facility sales tax fund that would be used to pay for a new publicly owned venue that will cost, at minimum, $900 million. The ballot proposal also spelled out the Thunder will play at the new arena for at least 25 years.

Though not on the ballot, the Thunder agreed to contribute $50 million toward construction, and at least $70 million will come from the MAPS 4 project. The facility is projected to open by the 2029-30 season.

Following the lopsided election win, Thunder owner Clay Bennett released the following statement:

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NBA commissioner Adam Silver also released a statement on the new arena approval:

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The Thunder have played at Paycom Center since they arrived in 2008, but the arena itself opened in 2002, making it one of the oldest/smallest NBA arenas.

The long-term 15-year lease expired this year, which resulted in the Thunder signing a three-year lease that ends in 2026.

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