City Council approves new arena in downtown Oklahoma City

OKLAHOMA CITY (KFOR) - Oklahoma City Council gave the green light to a development package at Tuesday’s meeting, meaning it’s game on for the new downtown arena that will become the new home for the OKC Thunder. 

The development agreement was approved by a vote of 7-2. 

"Oh, let's go, Thunder man. That's amazing. I'm excited,” said Anthony Wood, a Thunder fan. 

Here’s how the nearly billion dollar arena will be funded: 

• $78 million from MAPS 4
• $50 million from PBCS&E
• a minimum of $772 million, financed through the 72-month, one-cent special sales tax

“The parties [involved in the design and construction] recognize a state of the art facility will benefit the residents of Oklahoma City,” said City Manager Craig Freeman. 

But not everyone thinks the plan is a slam dunk. Councilwomen JoBeth Hamon and Nikki Nice both voted “no.” 

"We're not being, in my opinion, intentional about how we incorporate our city apprenticeships, jobs, opportunities,” said Councilwoman Nikki Nice, Ward 7.

Nice said she’s also concerned about the current Prairie Surf Studio employees and the project’s timeline. 

The city said it’s shooting to finish the arena by 2028. Per the contract, it has to be open by 2030. 

“It's a very aggressive timeline for this arena to be built, whereas we still have quite a few very important projects that are important to our community and our city that I want to hear that those projects will not be deferred or the timeline will not be extended because of this project,” said Nice. 

Thunder leadership weighed in on the move Tuesday: 

“We truly appreciate our continued partnership with the City and are grateful to Mayor Holt, members of the City Council, and City Manager Craig Freeman and his staff.  The approval of the New Arena Development Agreement is the latest step in transforming downtown Oklahoma City, with a new arena at the heart of it all.”   

• Statement from Danny Barth, Executive VP, Chief Administrative Officer, OKC Thunder 

The project also includes construction of a 650-space parking garage and an area reserved for a potential intercity transit hub. 

The Thunder will continue to play home games at the Paycom Center until the new arena opens. The team's 25-year commitment to stay in Oklahoma City starts once they move into the new arena.