$900 Million For 25 Year Contract: Is The OKC Thunder Worth The Cost?

Oklahoma City voters will get the chance to approve the continuation of a one-cent tax to help build a new arena for the Thunder, if already passed through the city council.

The new plans extend the Thunder’s contract with the city through 2050.

News 9’s Thunder expert Steve McGeehee has been traveling to different arenas for years.

“I think I’ve been fortunate enough to go to every single one of [the NBA’s arenas],” McGeehee said.

McGeehee spends six months out of the year traveling and reporting from NBA games, alongside the Thunder.

“It’s more than just how many seats you have,” McGeehee said. “It’s more so to do with what’s around it.”

Mayor David Holt says a new arena is key for keeping the Thunder in Oklahoma City.

“That’s what’s at stake. We are out of a long-term lease with this team,” Holt said.

That’s what Holt hopes to sell voters on. He worries that without the team, OKC will lose one of its main attractions.

“Our future as a big league city won’t be viable anymore,” Holt said.

A big league needs a big league sports team, and the Thunder is the only one Oklahoma City has.

“This isn’t our fourth one, this is our only one and that’s a major difference,” Holt said.

The new arena means a 25-year contract. No new arena could mean the Thunder moves to a new city.

“I think it would be the biggest gut punch in our city’s history since the oil bust in the 80s,” Holt said.

The Thunder’s benefits to the community could outweigh the costs

“Schools and education and books, you name it and the Thunder is involved in it in a positive way,” McGeehee said.

December 12, voters will have to decide if $900 million, through a one-cent tax continuation, is worth it to keep the Thunder. The City Council will vote on September 26.