OKC Mayor Announces Plan for 'State-of-the-Art' Arena to Keep Thunder Through 2050

The Oklahoma City Thunder have played at Paycom Center since they arrived in the city in 2008, but that may change in the coming years.

Oklahoma City Mayor David Holt announced Tuesday that the plan to "build a new state-of-the-art arena without raising taxes" was finalized. The plan also includes a commitment from the team to remain in the arena beyond 2050:

The announcement explained the eventual implementation of this plan depends on a Dec. 12 vote to pass a temporary one-cent sales tax that will not increase overall taxes. Holt and city manager Craig Freeman will present the plan and a letter of intent from Thunder chairman Clay Bennett to City Council on Sept. 26.

Bennett's letter will commit the Thunder to playing in the new arena for 25 years.

Such a plan was necessary because the franchise's long-term agreement to remain in Oklahoma City expired this year. The team responded by agreeing to a short-term extension, but that will end in fewer than three years.

There was an element of urgency explained in the announcement as well:

"The City's current arena is the smallest in the NBA by square footage, it has the second-smallest capital investment of all NBA arenas, and at 21 years old, it is increasingly within range of the oldest arenas in the entire NBA. OKC's current arena is not capable of securing a long-term lease with an NBA team. Meanwhile, there are U.S. markets larger than Oklahoma City that don't have an NBA team, some of which already have or are planning an NBA-ready arena. Also, without a new arena, it will prove more and more difficult for Oklahoma City to retain and attract new major concerts, family shows, and other similar events."

Clemente Almanza of USA Today's Thunder Wire noted that Thunder ownership will commit $50 million to the project, which will cost at least $900 million in total.

The arena would open by the 2029-30 NBA campaign and also host concerts and other events in addition to Thunder games.

The Thunder played in Seattle as the SuperSonics from 1967-68 through 2007-08 but moved to Oklahoma City ahead of the 2008-09 season.

While they have not won a championship since the move, there have been 10 playoff appearances. Kevin Durant and Russell Westbrook starred for the team for years and helped lead it to the 2012 NBA Finals, where it lost to LeBron James and the Miami Heat.

Oklahoma City also advanced to the Western Conference Finals in 2011, 2014 and 2016.

Perhaps the next deep playoff run will come in a new arena.