• Loading stock data...
Wednesday, July 9, 2025

Thunder Join Arena Arms Race With $900M Proposal

  • Team and city officials have agreed on plans for a new downtown arena.
  • Mostly public funds would be used to pay for the $900 million project.
Alonzo Adams-USA TODAY Sports

The Oklahoma City Thunder are the latest pro sports team targeting a new venue with their plans for a project that will cost nearly $1 billion.

Team and city officials have agreed on a proposal to build a $900 million arena downtown that would open in 2029 and be the Thunder’s home for at least the next 25 years. 

The team’s current lease at Paycom Center expires in 2026 — an issue contributing to mounting uncertainty over the future of the franchise. Paycom Center first opened in 2002 and seats 18,000 fans.

To greenlight the proposal — which had been lagging and won’t be formally approved until December — Oklahoma City has committed to publicly fund the majority of the arena, in addition to $50 million from Thunder owner Clay Bennett and other team investors.

“We had a choice to raise taxes or delay the project until 2034,” Oklahoma City mayor David Holt said. “We wouldn’t have an NBA team if we did that.” 

Cities like Las Vegas and Seattle are unabashedly vying for NBA teams as the league considers expansion or current franchises potentially seek new homes.

Will Philadelphia Follow Suit?

The Philadelphia 76ers are another NBA team hoping to build a new $1.3 billion downtown arena by 2031 — a situation that has caused strife with their current arena’s landlord. The 76ers play at Wells Fargo Center, which is owned by Comcast Spectacor, in South Philly.

“The trend of downtown arenas continues,” David Adelman, who chairs 76 Devco, posted on X (formerly known as Twitter), referring to the news of the Thunder’s arena plans.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Jonas

Jonas Valančiūnas Is Cryptic About Nuggets Standoff in Lithuania

The Nuggets expect Valančiūnas to honor his NBA contract. 
Jun 27, 2025; Dallas, TX, USA; Dallas Mavericks first overall pick Cooper Flagg speaks to the media during a press conference at the Dallas Mavericks Practice Facility.

Cooper Flagg–Bronny James Summer League Tickets Average $201

The average purchase price on resale platform TickPick is $201.

Texas Sports Teams, Leagues Donate Over $5M to Flood Relief

NFL, MLB, and NBA teams in Texas donate to flood recovery efforts.

Featured Today

American Celebs Want to Be Sports Owners. Soccer Is Where They Start

As U.S. team prices climb, investors set their sights abroad.
July 5, 2025

Baseball’s Celebrity Row: Behind MLB’s First-Pitch Ritual

Often planned, sometimes spontaneous, the ritual throw is baseball’s celebrity row.
July 4, 2025

3,000 Hot Dogs, $20K in Prizes: Behind the Nathan’s Eating Contest

Nathan’s serves up thousands of hot dogs and $20,000 in prize money.
July 3, 2025

Geoffrey Esper Can’t Catch a Break at Nathan’s Hot Dog Eating Contest

“Hot dogs is not one of my favorite competitions of the year.”

Chiefs Delay Stadium Decision As Kansas Dangles Dome Dreams

Kansas legislators extend bonds for potential Chiefs and Royals facilities.
July 2, 2025

Commanders’ $3.8B Stadium Deal in Jeopardy? Mayor Sounds the Alarm

Political tensions rise about delays in stadium funding approval.
Jul 3, 2022; London, United Kingdom; Jannik Sinner (ITA) returns a shot during his match against Carlos Alcaraz (ESP) on day seven at All England Lawn Tennis and Croquet Club.
July 7, 2025

Wimbledon’s Expansion Battle Looms Over Star-Studded Quarterfinals

The expansion’s loudest opposition is Save Wimbledon Park.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
July 1, 2025

$600M for Browns Stadium Sparks Cleveland Backlash, Possible Lawsuit

The awarding of public funds draws criticism and could bring a lawsuit.
June 29, 2025

The Battle Over Wimbledon’s Ambitious Expansion Plan

A classic NIMBY standoff on one of the most hallowed grounds in sports.
June 26, 2025

Bengals Strike 10-Year, $470M Stadium Deal to Stay in Cincinnati

The NFL franchise and Hamilton County have agreed to a new lease.
June 26, 2025

Browns $2.4B Stadium Plan Now Relies on Ohioans’ Forgotten Money

Ohio’s Modell Law is revised, while stadium funding faces new challenges.