Sports » Latest News
Sports
Posted: Sep 13, 2023 9:53 AMUpdated: Sep 13, 2023 10:53 AM
OKC Thunder Getting New Arena
It was announced on Tuesday by Oklahoma City Mayor David Holt that there is a plan to build a new arena for the OKC Thunder. After 14 months of public discussion and talks between Oklahoma City leaders, a plan has been finalized to construct a new downtown arena that will keep the team in OKC beyond the year 2050.
The biggest news about this announcement from Holt is that it will not raise taxes in the city. As for now, the minimum cost of the arena will be at least $900 million, but it will be funded through three funding sources – A temporary one-cent sales tax lasting 72 months that will begin after the expiration of the current MAPS 4 one-cent sales tax.
At least $70 million from MAPS 4 that was previously designated for downtown OKC, and a $50 million contribution by the owners of the Thunder. For this arena to go through, a simple majority of the OKC City Council is required to call for the December 12 election, and a simple majority of voters is required for passage.
« Back to Sports
