paycom center – Syndication Server

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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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:

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

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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HoopsHype: Paycom Center ranked as 19th-best NBA arena

In a 35-member media survey conducted by @hoopshype, Paycom Center was ranked No. 19 among all NBA arenas.

With less than a month remaining until a new OKC arena proposal gets voted on by local residents, HoopsHype recently conducted a media poll to rank all 29 NBA arenas.

The criteria involved variables such as the crowd atmosphere and energy, the quality of the arena, culinary offerings and lighting.

The Oklahoma City Thunder’s Paycom Center surprisingly was ranked as the 19th-best arena by the 35-member media survey. That is an interesting result considering it could soon be replaced.

The 21-year-old arena garnered 18.1% of maximum allowed votes. It also received one fourth-place vote in the poll.

The Thunder look to get a new arena; their lease with Paycom Center ends in 2026. The current arena proposal, which is pending voter approval, includes a $900 million construction cost. Thunder ownership will chip in $50 million.

A new arena will secure the Thunder’s future in OKC beyond 2050 via a 25-year lease. It is planned to open by the 2029-30 season at the latest.

An citywide vote will take place on Dec. 12 that will determine whether or the current one-cent sales tax that would largely fund the new arena will be extended.

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PHOTOS: Best images from OKC pro-arena kickoff campaign

Let’s look at the best photos from the kickoff campaign even centered around supporting a new arena that would secure the long-term future of the Thunder.

Following the approval to conduct a Dec. 12 election on the continuation of a one-cent tax, OKC Mayor David Holt hosted a campaign kickoff event downtown to support the passing of a new arena proposal.

If passed by voters, a new OKC arena will become the long-term home of the Oklahoma City Thunder, who are currently signed to a short-term lease with Paycom Center that expires in 2026.

During the event, Holt spoke about the importance of building a new arena that is more suited to host an NBA team. The $900 million-plus investment will include a $50 million contribution by Thunder ownership.

Let’s look at some of the best photos of the event.

OKC Mayor David Holt talks about remembering history, new arena changes and more

. @CAlmanza1007 spoke with OKC Mayor David Holt about the new arena proposal following Thursday’s kickoff campaign event.

OKLAHOMA CITY — In less than three months, a new OKC arena will be voted on by local residents to determine the fate of the current proposal.

The Dec. 12 vote will ask OKC residents if they wish to continue the current one-cent special tax rate for six additional years to fund a new arena.

The current proposal projects the construction costs of a new arena to be at least $900 million with $50 million contributed by Thunder ownership. The opening is planned for the 2029-30 season.

If tax is approved, the long-term future of the Oklahoma City Thunder will be secured. The Thunder have promised they will sign a 25-year lease for the new building. The team’s current lease at Paycom Center expires in 2026.

On Thursday, OKC Mayor David Holt hosted a kickoff event at Scissortail Park for the pro-arena campaign. He re-emphasized the importance of a new arena and why OKC needs to build it to keep the Thunder.

“The truth of the matter is no one thinks we should have this team except for the people in the city, the people who own this team and the people I’m looking at right now,” Holt said.

Afterward, Holt spoke to local media and answered questions about the campaign and the new arena proposal. USA TODAY’s Thunder Wire asked him a handful of questions.

The conversation is lightly edited for clarity.

OKC Thunder GM Sam Presti comments on potential new arena

“I do really applaud Mayor Holt’s vision, because I think his vision is not necessarily a vision of the Thunder, it’s a vision for Oklahoma City.”

The biggest offseason storyline surrounding the Oklahoma City Thunder has happened off the court.

After initially bringing up the need for a new arena last summer, OKC Mayor David Holt accelerated the process this offseason when he announced a fully-detailed proposal and a funding plan that will basically be put to city voters on Dec. 12.

In his 2023-24 preseason media conference, Thunder general manager Sam Prestipresti officially talked about the arena proposal for the first time since it was announced.

Being essentially the face of the franchise since the Thunder relocated in 2008, Presti is often linked with the organization through the public eye.

In his comments, Presti applauded the collaborative effort between the Thunder ownership and OKC to get a new arena built to secure the long-term future of the franchise.

“Again, like one thing that I’m — first of all, I’m biased. I can’t hide that. So I don’t even know that my opinion is like that valid in this case.

I would say this: It’s like a political component — it’s a political issue. I’m not a politician. I don’t want to say anything that could be misinterpreted because I’m out of my depth on that kind of stuff, and I’m happy to admit it.

Warren Buffett says we have a circle of competence. This is very far outside my circle of competence.

Other than to say that I think the history of the city and the team working together is a very unique one, and I do really applaud Mayor Holt’s vision, because I think his vision is not necessarily a vision of the Thunder, it’s a vision for Oklahoma City, and I think like the way he’s expressed that in a very proactive way, I think he’s done a good job of articulating that.

But I’m also a huge believer that everyone’s voice matters, and the people will vote on this, and that’s the way it should be, and there should be discourse because I think that’s healthy.

We live in a world where if somebody has a different opinion than you, you tend to just assume that you disagree with them on everything and that they’re wrong. In reality, the discourse is what makes things healthy, but ultimately it will be decided by the community, and I think they’ve done that for years here. It’s how they’ve built the city, and they’ll do it again.

Obviously we’ll see where that lands us.”

The negotiation process between OKC and Thunder ownership on a new arena puts Presti in a tough position because he only deals with the basketball operations, but he gave a great answer for a delicate situation.

If voters approve their part of the funding plan in December, it will mark a significant milestone that secures the new arena scheduled to open by the 2029-30 season.

Sam Presti’s comments on the OKC new arena situation: pic.twitter.com/HVsx9809jd

— Clemente Almanza (@CAlmanza1007) September 27, 2023

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OKC City Council approves Dec. 12 vote for potential new Thunder arena

A special OKC election will be held on Dec. 12 for the approval of a new arena proposal.

Another signpost was reached on Tuesday on the path toward a potential new arena for the Oklahoma City Thunder.

The OKC City Council voted in favor of holding a special Dec. 12 election to determine if the new arena plan gets approved.

The vote will ask OKC residents if they are interested in continuing its current one-cent sales tax for an additional six years. The new arena proposal also states that construction costs will be at least $900 million with $50 million of that contributed by Thunder ownership.

If approved, a new OKC arena will be opened by the 2029-30 season.

Paycom Center — the Thunder’s current home — is ranked near the bottom of the league in size and age. After their 15-year lease expired earlier this year, the Thunder agreed to sign a three-year lease to stay at Paycom Center until 2026.

The short-term lease allowed the Thunder and OKC to negotiate the details of a new arena proposal and begin construction.

Press release from the City of OKC on today’s City Council approval for a Dec. 12 vote on a new arena: pic.twitter.com/l2Gr1nkk8L

— Clemente Almanza (@CAlmanza1007) September 26, 2023

The full meeting can be watched below:

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