OKC Thunder get $900M arena for JUST $50M?

OKC Thunder get $900M arena for JUST $50M?

Here’s Brody Brazil. As that saying goes, timing is everything. And such is the case, it seems, right now, for the Oklahoma City Thunder. Wasn’t it about exactly a month ago they were celebrating the franchise’s first ever NBA title? Granted, they’ve only been around since the late 2000s and their move from Seattle to OKC, but still something to celebrate, something to rally around, something to give this community a huge boost of momentum. So, why not strike while the iron’s hot one month later? Introduce your plans for a brand new OKC arena, right? while everybody’s riding that high of the Larry O’Brien trophy, of the parade, of a world title coming to Oklahoma City. And yeah, this is a good opportunity to make the ask. Now, we should also back up and say that arena talks and plans and some public funding have been in the works for quite some time. And also, look at these renderings. Absolutely magnificent. A spectacle, a pinnacle, something for OKC to call its own. Remember, their current arena was built before the Thunder even existed and moved from Seattle to OKC. So, kind of an outdated building. This would give them their first ever chance. And I’ve got some still frames of images and renderings to share with you later on. But the visuals and the video right there, I think do it tremendous justice. Let’s also step back and talk about the current Paycom Center. This would be the arena that’s getting replaced. It’s where the Thunder currently play. It’s where they’ve played ever since the what 09 season 0809 season when they moved from Seattle. This building opened in 2002, 6 years before the Thunder arrived from Seattle. So again, this predates the actual team’s existence. It was built with the idea that maybe an NBA team could come in, but it was kind of like Tropicana Field in baseball, built well before there was actually even an assurance of a professional sports team as the anchor tenant. OKC Mayor David Holtz, he announced the plans for this new arena. He’s behind it. He’s trying to get this to happen for the team. He said this about Paycom Center, the old building, just the other day. Quote, “Our current arena is too small by square footage, lacks the amenities of a modern arena, and it has grown too old. This new arena will address all those issues.” And isn’t that about the most wide and broad statement you could possibly make? Yeah, the current building, it’s too old and outdated. We’ve outgrown it. It doesn’t have all the proper amenities. And don’t worry, what we’re about to build is going to fix and remedy all of that. Well, you certainly hope so. But I circle back to the idea of need versus want. I mean, according to the mayor, this is a need situation. The building needs this to get more events, to get more revenue, to get a better situation happening. But is it also an equal amount of want because the team’s popularity might be peaking because they see where things are going. Yeah, I do think there is a lot of want here in addition to maybe some of the needs. But look, the renderings you cannot deny are spectacular. Manica, am I saying that right? The corporation that does a lot of sports venue renderings. I mean, these are fantastic. These give you a really good, clean, clear idea of how this might look. A lot of wood trim here. The ceiling on the inside is all dark. You can’t see all of the infrastructure up there on the roof. It just has a really nice look and feel. They say they’re hoping that this building, by the way, we don’t know the naming rights sponsor of this building. Paycom is apparently out as the naming rights sponsor. They will not be sponsoring this new building, but they’re hoping that this building can challenge like the new bar and the new standard that’s been set by the Init Clippers down in Southern California. Looks nice. Some neon touches or LED touches. That’s not neon lighting. Brazil. Come on. This is not the 80s anymore. We’re in 2025. But it just looks nice as renderings are supposed to. I mean, look at that concourse. Very appealing, very inviting. All the glass externally. I’ll be honest, it reminds me of the old Oracle Arena. Still standing called the Oakland Arena today. But they built that in what, the late 50s, early no 60s. It had that glass, what do they call it? A jewel case design. It really kind of opens you up to outside even when you’re inside. Bottom line is, look, these are fantastic renderings. If I’m judging the the curb appeal of this building, it’s quite nice. They’re going to build this across the street from the current Paycom Arena. It’s also supposed to have fewer seats than Paycom does. It’s also going to be significantly larger. They’re just trying to get more space in this building. I feel like the main complaint is it’s just too cramped. I’ll be honest, full transparency, I’ve never been to Paycom Arena, so I can’t understand exactly what they’re talking about, but it’s going to have the new building fewer than 18,23 seats, which is what the current arena features. They’re aiming to have 50% more square footage with this new building at about 750,000 square ft for the arena. They say right now that Paycom has the smallest square footage of any NBA arena, which makes sense. And when you put that into perspective, Paycom has been around for 23 years. So, a lot of new buildings since then, bigger, better, more spacious, it does make sense that this is probably one of the smaller footprints in the association. They’re trying to make the upper deck closer to the court, and I put, etc., etc., all the new amenities you would imagine, wider concourses, more bathrooms. They’re making all these promises, which pretty much any arena across the country is going to say about their new building versus their old one. So, there’s not any one thing that’s specific like this has to change. Basically, bigger and better is the real ask here, literally right across the street. And yes, as I mentioned before, they will have a different naming sponsor than Paycom. That company based in OKC has already said, “We’ve enjoyed our experience with the old arena. We’re done with the naming rights. We wish the the team well. We’ll continue to support them, but we will not be the naming rights sponsor of the new building. Some more details on how will this get paid for? What’s the situation here? Because that’s always of interest. There was a 1 cent sales tax extension approved for a span of 72 months, but that’s not supposed to kick in until April of 2028 if this building moves forward. This was approved back in December 2023. kind of the problem here is the timeliness of what was approved and when it was approved, not for 72 months, but the fact that this was approved in December of 2023. Because back then it was estimated that this 1 cent sales tax extension and OKC that it was supposed to cover a majority of the estimated $900 million arena. Do you know where we’re going with this? Maybe the arena doesn’t cost $900 million anymore like it did almost 2 years ago pretty soon. Like we’re coming up on December in a handful of months, 2025. The price is going to be quite different than it was December of 2023. Again, the tax would begin in April of 2028. This arena is supposed to begin construction in 26 and be open by the fall of 28. So, the timing mechanism of when it’s paid for is almost after the arena is already built. Who fronts the money? How does that work? I don’t understand all those details yet, but I’m pointing out something I do understand. The cost of this has definitely gone up. And if you think that this sales tax is still going to cover the majority of the arena and its new cost, I’d have to believe that’s highly unlikely. Oh, yeah. There’s also this. The team has pledged $50 million to pay for to help pay for the brand new arena. The team also has the option to buy the land of the current Paycom center to develop. Meaning that if they’re going to build this new spot right across the street, they get the land of the old arena. They can tear it down. They can build their entertainment district. They can do whatever they want in close proximity to the brand new arena. They’re not going to own the new arena, but they can own the land and the real estate right across the street. They do have that option to buy it from Oklahoma City. So, a sweetheart of a deal for the team. They’re only in this for $50 million. Isn’t that the price of like a really good point guard? Like a a top shelf point guard. Shouldn’t that cost you about $50 million for a year or two or whatever? I don’t even know what NBA contracts are at these days. The point being, what a steal for the Thunder. Let’s get to the takeaways. Isn’t this the epitome of striking while the iron is hot? You just win a title. Everybody’s got their their attention and their their hearts for you and everything is going swell. So ask for a new arena now. Why didn’t they do this last off season? Why didn’t they wait till next off season? As soon as that Larry O’Brien trophy was hoisted, trust me, the wheels that were already in motion got sped up a certain degree. That new arena cost, I’m estimating, just throwing this out there, price of inflation, construction materials, labor cost, probably closer to $1.2 $2 billion rather than $900 million. The team’s going to get a new building for again for $50 million. I just can’t get over that. And you could say, well, they’re not going to own it, but they’re going to get all the benefits of it, aren’t they? All the increased cost and amenities. By the way, the Thunder are not the only ones interested in buying that land of the old arena. The actual company, the naming rights sponsor, Paycom, they’re also interested in buying the land. Now, they don’t have first crack. They don’t have first priority, but just goes to show you that Oklahoma City is fasttracking the team, the Thunder, to give them the chance to own this land right across the street first before anybody else. It is interesting that Paycom is also in the mix of wanting that land. So, the team’s going to make out great. I don’t know how Oklahoma City is going to pay for all this. It is beautiful. Will it happen? Will it get pushed through? Mostly because politicians are riding that high of an NBA title? Possibly. I think that’s the main point of this video. Striking while the iron is hot, riding the wave, riding and using some of that momentum. I think that’s certainly happening here in Oklahoma City and might be one of the reasons why they get a beautiful brand new barn. Let me know what you think about all this in the comments section below. Also, thumbs up while you’re down there. Helps me the video on the channel. Don’t forget to subscribe. I would love to see you back here next time.

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When OKC and Thunder team officials unveiled the design of a new arena to replace the Paycom Center, they left a key detail unanswered: How many people will fit inside?

To their credit, seating capacity at the next arena hasn’t been finalized so there isn’t a definitive number to report. A website with details about the arena project confirms that seating capacity and seating design are still being developed for both Thunder basketball games and concerts, but OKC Mayor David Holt has suggested the aim was for more square footage, not more seats.

Read More: https://www.oklahoman.com/story/news/local/oklahoma-city/2025/07/17/oklahoma-city-new-arena-seating-numbers/85258063007/

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