No chance this turns out to be a good investment for the public, it never ever is.
Barnicus57
America’s obsession with using public dollars for arenas and stadiums while people go into debt for a hospital visit is absolutely insane.
BUSean
I too am mulling whether to stab myself in the dick
nowhathappenedwas
> A group of more than 20 Oklahoma-based economists and finance professors published a letter on Dec. 4 encouraging a “no” vote on the new arena, which they said would not have a meaningful impact on economic growth and would instead divert public money from other needs while incurring new debt. > > They also pointed out that for the 12 new arenas and 12 new stadiums built across the U.S. since 2010, the average public expenditure was about 42% and that since 2020, three arenas have been built with no public money. > > “Alternatives that involved a larger ownership share or private financing would be superior options for the city,” the economists wrote.
The city paying for $850 million of the $900 million estimated cost is wildly out of line with other recent stadium deals.
> J.C. Bradbury, an economics professor at Kennesaw State University in Georgia who has extensively studied public policy toward arena and stadium construction, is even more blunt in his assessment of the Oklahoma City proposal. > > “Whoever negotiated this for the city of Oklahoma City should be fired for incompetence,” said Bradbury, who said he is particularly concerned about the lack of price ceilings. > > “When you tell me an arena is going to be a minimum of $900 million with no caps, you’ve just committed to a $2 billion arena,” he said. “It is by far the worst stadium deal I’ve ever seen negotiated from a public standpoint.”
This is also a huge red flag. $900 million is likely the minimum cost, and the city will have to pay every penny it goes over budget.
Usual_Adhesiveness92
What’s wrong with their arena?
I Can’t find a solid answer anywhere.
People say it’s old and small,
But its the 10th newest arena, and their capacity isn’t even in the bottom 10.
mtrn3
Thanks David Stern. Never should’ve left Seattle.
Yellow_Evan
Why do they need a new arena?
The_Captain_Planet22
Fuck billionaire welfare
PattyIceNY
And because of the city owns the building, they have to pay for maintenance and repairs as well. It’s horseshit.
moodie31
What’s in it for the OKC voters.
Sir-Viette
You know what wouldn’t make its money back for the taxpayer?
Billionaire should pay their own Stadium, not public.
__I_AM_HUMAN__
Fuck these billionaires that own these teams that expect the 99% to pay for their stadium. It’s fucking disgusting.
DubsFanAccount
Bad economics aside, Thunder have bottom ten attendance right and they’re good. It was even worse the last few years. Basically all of the small markets are getting killed and building a new stadium is the last thing any of them should be doing.
hotterpocketzz
Was there something wrong with the current arena?
Elyx117
billionaires, corporates and governments playing the public for a fool – a tale as old as time.
New_Essay_4869
Man, I actually like the arena now
SoundSaintWarrior
Crazy turn of events, they have to relocate back to Seattle.
timcident
If they dont get a free stadium, maybe theyll move. Seattles looking for a team
jknuts1377
You know, Seattle could use a team!
Plunk_3k
In addition to the public funds discussion; Where would they build it? I was in San Antonio when the Spurs played at in the Alamo Dome – a great downtown location. Then they moved out of town and created a situation where crowds dumped out into parking lots instead of one of the nation’s best bar districts. I’m near OKC now and would hate to see it keep happening like this.
pinetar321
Hmmm this sounds familiar… where have I seen this before?
d12fsu
Isn’t this how the ended up in OKC in the first place
jackswhatshesaid
Thanks for not putting us in this situation Balmer. Instead you just bought out Dolans stadium and flexed even further.
Attey21
Free money for billionaires basically. It’s crazy how this happens so much. Some owners are cool and don’t go thst route. Most try to use any leverage to get crazy deals or threaten to move the team. I get it’s a business but it’s still kind of messed up in some cases.
25 Comments
No chance this turns out to be a good investment for the public, it never ever is.
America’s obsession with using public dollars for arenas and stadiums while people go into debt for a hospital visit is absolutely insane.
I too am mulling whether to stab myself in the dick
> A group of more than 20 Oklahoma-based economists and finance professors published a letter on Dec. 4 encouraging a “no” vote on the new arena, which they said would not have a meaningful impact on economic growth and would instead divert public money from other needs while incurring new debt.
>
> They also pointed out that for the 12 new arenas and 12 new stadiums built across the U.S. since 2010, the average public expenditure was about 42% and that since 2020, three arenas have been built with no public money.
>
> “Alternatives that involved a larger ownership share or private financing would be superior options for the city,” the economists wrote.
The city paying for $850 million of the $900 million estimated cost is wildly out of line with other recent stadium deals.
> J.C. Bradbury, an economics professor at Kennesaw State University in Georgia who has extensively studied public policy toward arena and stadium construction, is even more blunt in his assessment of the Oklahoma City proposal.
>
> “Whoever negotiated this for the city of Oklahoma City should be fired for incompetence,” said Bradbury, who said he is particularly concerned about the lack of price ceilings.
>
> “When you tell me an arena is going to be a minimum of $900 million with no caps, you’ve just committed to a $2 billion arena,” he said. “It is by far the worst stadium deal I’ve ever seen negotiated from a public standpoint.”
This is also a huge red flag. $900 million is likely the minimum cost, and the city will have to pay every penny it goes over budget.
What’s wrong with their arena?
I Can’t find a solid answer anywhere.
People say it’s old and small,
But its the 10th newest arena, and their capacity isn’t even in the bottom 10.
Thanks David Stern. Never should’ve left Seattle.
Why do they need a new arena?
Fuck billionaire welfare
And because of the city owns the building, they have to pay for maintenance and repairs as well. It’s horseshit.
What’s in it for the OKC voters.
You know what wouldn’t make its money back for the taxpayer?
* A $900 million arena.
You know what would?
* Public education.
* Public health.
* Public transport.
* [Better urban planning](https://youtu.be/7Nw6qyyrTeI?si=7fkvQKbuIphylsZg)
Billionaire should pay their own Stadium, not public.
Fuck these billionaires that own these teams that expect the 99% to pay for their stadium. It’s fucking disgusting.
Bad economics aside, Thunder have bottom ten attendance right and they’re good. It was even worse the last few years. Basically all of the small markets are getting killed and building a new stadium is the last thing any of them should be doing.
Was there something wrong with the current arena?
billionaires, corporates and governments playing the public for a fool – a tale as old as time.
Man, I actually like the arena now
Crazy turn of events, they have to relocate back to Seattle.
If they dont get a free stadium, maybe theyll move. Seattles looking for a team
You know, Seattle could use a team!
In addition to the public funds discussion; Where would they build it? I was in San Antonio when the Spurs played at in the Alamo Dome – a great downtown location. Then they moved out of town and created a situation where crowds dumped out into parking lots instead of one of the nation’s best bar districts. I’m near OKC now and would hate to see it keep happening like this.
Hmmm this sounds familiar… where have I seen this before?
Isn’t this how the ended up in OKC in the first place
Thanks for not putting us in this situation Balmer. Instead you just bought out Dolans stadium and flexed even further.
Free money for billionaires basically. It’s crazy how this happens so much. Some owners are cool and don’t go thst route. Most try to use any leverage to get crazy deals or threaten to move the team. I get it’s a business but it’s still kind of messed up in some cases.