Oklahoma City Voters Approve Taxpayer Dollars To Fund New Arena, Keep OKC Thunder

People in Oklahoma City decided they wanted the Oklahoma City Thunder to stay after voting to fund $850 million in taxpayer's dollars to build a new arena.

Oklahoma City Mayor David Holt signed an agreement to keep the team in OKC beyond 2050 if the team got the new arena.

The team currently plays in the Paycom Center, which opened its doors in 2002. Since 2008, it’s been the home of the Thunder, but that lease ends in 3 years.

The Paycom Center is one of the oldest and smallest arenas in the NBA, but that does not stop it from bringing in nearly $600 million dollars per year. 

And with that, Oklahoma City Mayor David Holt wants a newer, updated arena, not only for the Thunder but for events and concerts.

A few big names that toured through the Paycom Center this year are Blake Shelton, Katy Williams, and Thomas Rhett. Early next year, Nicki Minaj will take the stage.

But at the center of attention is keeping an NBA team in a market that is just outside of the Top 40.

Holt tweeted the day before the vote that no one else is rooting for this underdog, and no one in the American sports world thinks OKC should have the team.

But voters disagree with more than 70% voting to keep the Thunder at home.

The agreement has the team’s ownership contributing $50 million dollars to the arena.

The passing vote means a one-cent sales tax will be extended for an additional 6 years beginning in 2028.

Related: New Oklahoma City Arena Wins Landslide Approval

Related: ‘OKC Versus The World And We Won’: Mayor David Holt On New Arena Vote Approval

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Related: Party Leaders Unite In Opposition To Arena Proposition

Related: Proposal For New OKC Arena Endorsed By Minority Chambers Of Commerce