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How Taxes Can Dramatically Affect NBA Draft Pick Salaries


Oklahoma City, Oklahoma

     The State of Oklahoma's very own Oklahoma City Thunder have the second pick, and Oklahoma imposes an income tax on salaried NBA players, ranging from     
     0% to 5%, and Oklahoma City follows a similar tax range for its residents. The sales tax average is at 4.5% at the state level but lowers at the Oklahoma
     City level to 4.13%.

     While Oklahoma City is the capital of the State of Oklahoma, property taxes in the city remain the same as with the state government, and residents pay a               
     property tax of 0.87%. The Oklahoma City team expects to sign a contract for the projected salaries for the draft team, which amounts to an estimated       
     $24,288,551 as the market cap rises to $9,759,000.

Link https://www.citybiz.co/article/283168/how-taxes-can-dramatically-affect-nba-draft-pick-salaries/ (https://www.citybiz.co/article/283168/how-taxes-can-dramatically-affect-nba-draft-pick-salaries/)

  
                             

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    https://okcfox.com/news/local/thunder-okc-oklahoma-city-nba-national-basketball-association-milwaukee-bucks-detroit-pistons-sacramento-kings-paycom-center (https://okcfox.com/news/local/thunder-okc-oklahoma-city-nba-national-basketball-association-milwaukee-bucks-detroit-pistons-sacramento-kings-paycom-center)
                                                      ^  ^  ^  What a new Oklahoma City Arena might costs the tax payers ^  ^  ^  


Oklahoma City Thunder: $1.875 billion Forbes 2022 team evaluations, the franchise ranks 24 among 30 NBA franchises.

Oklahoma City ranks as the 20th largest U. S. city by population and the 42nd largest U. S. city by MSA population.

    (https://i.ytimg.com/vi/BUOrc4zXRe0/mqdefault.jpg)  Zach Bryan - Oklahoma City  https://www.youtube.com/watch?v=4h1auH9LuE0 (https://www.youtube.com/watch?v=4h1auH9LuE0)


Beyond Paycom Center, comments on potential new Oklahoma City Arena

reddit

astnloos:  
I don't live in OKC, but I do live in Oklahoma. So from the outside looking in, I would think that OKC would look at the Thunder as a jewel on the prairie, and go all out. I think they should not only build a new arena, but build a state of the art one. The whole world watches the NBA. I would think it would be a great PR move to have on display. But hey, I am not paying for it so this is easy for me to say.


jlep3509
The original Ford Center was never designed to be an NBA arena. It was designed to be a venue and hockey arena. My understanding is it's one of the older arenas in the NBA right now as well

It's a sensitive issue because Seattle not building an arena for the team was justification to move the Supersonics. I doubt they're looking to have it built in the next year or two. More likely they want something in place so it can be built within the next 10 years.

Twitbookplus
Absolutely getting built and it will absolutely be tax payer funded. Could they spend the money on better things? Sure. Do I care? No. The Thunder are not just a basketball team, it's a source of culture and pride for an otherwise boring state. There is literally nothing they could ask for in this vote that I would say no to. There is no price tag too high for me to say no. One penny? Make it a whole nickel! Who cares?! Thunder Up!

Los Angeles Clippers (Crypto.com Arena shared with Lakers) and Philadelphia 76ers (Wells Fargo Center 27 years old) Original cost:  $210 million
($384 million in 2021 dollars.

1.  The current site of Prairie Surf Media 4  square superblock comes with all of the advantages that come with Paycom Center and none of the disadvantages
     that come with competing locations. The timeline works with long-range planning for Prairie Surf Studios and site control ensures the city can work with the
    Thunder on desired timetables.  Bob Howard owns the surface lots, they were previously considered for the Oklahoma City Convention Center before it was
     relocated east of Scissortail Park. The potential high land acquisition costs caused this deal to fall apart.


2. The second site to consider maintains surface parking lots located on four blocks between Oklahoma City Boulevard, Hudson, Robinson and Reno Avenues.
   The site sits just west of the Paycom Center.

    The site, along with former I-40 easement and an additional block to the west, is large enough for an arena plus an amenity zone and even some VIP
    parking. The question remains, though, as to whether the city could successfully negotiate a purchase when a deal couldn't be struck for the convention
    center.


3.  The area, known as Strawberry Fields, involves a patchwork of properties purchased and cleared by Pat Salame. If the city could acquire these properties,
    the site is too far away from hotels, restaurants, shops, and most importantly, parking.

(https://www.gannett-cdn.com/presto/2022/07/15/NOKL/26c881fc-bad6-4efa-8973-68b105724096-7.jpg?width=1320&height=744&fit=crop&format=pjpg&auto=webp)


4.  The former site of the Producer's COOP Mill, 40 acres once home to a cotton oil mill, is within walking distance of parking, hotels, restaurants and shops in
    and around Bricktown. But access is limited.  The site was last listed at $2.9 million an acre.

                    (https://okcfox.com/resources/media/99b9134e-fbaf-4e5e-afe2-370768c87b53-medium16x9_2002RibbonCutting.jpg?1654694442619)

MAPS4 is already scheduled to provide some additional improvements to the Paycom Center in the near future, such as $4 million in new seating and mechanical technology maintenance. Holt said the city is asking the MAPS4 Citizens Advisory Board to pause further work while they determine the best future use of the remaining $70 million in MAPS 4 funds.

Additions and improvements that were made during this final phase include:

         The new grand entry with a multi-story atrium.
         A new 75' wide x 21' tall exterior video display on the north face of the facility.
         New restaurants and lounges. (View renderings of additions to the Cox Club Level)
         A family fun zone.
         Team offices and expanded locker rooms.

In the lower bowl, fans enjoy the new telescopic (retractable seating) and wider, more luxurious leather seats.

On the club level, the 48 new terrace suites and two new terrace lounges make a big impression and add to the premium seating options available. Additional seating upgrades include redecorating the remaining luxury suites and adding new bunker suites on the lower levels.

Outside the arena bowl, the upper-level concourse now features redesigned floors, lighting and flat-screen television monitors for a brighter, more fan-friendly atmosphere.

(https://s3-media0.fl.yelpcdn.com/bphoto/NGISQ0GqAWLh0duT7p_LVg/l.jpg) (https://nowthatsthunderbasketball.files.wordpress.com/2012/09/practice-faility.jpg)

The Integris Health Thunder practice facility to get $10.3 million for upgrades to a facility that was built . Proponents explained during the MAPS 4 campaign that improvements were needed to remain competitive and sign a new lease with the Thunder.
Oklahoma City Mayor, David Holt speaks at the State of the City at the Oklahoma City Convention Center on Thursday, July 14, 2022.


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                                                 Beyond Paycom Center, NBA in OKC

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Here's an interesting interview aired on the Oklahoma Breakdown hosted by Ikard and Lehman with Mayor Holt where many of the concerns about a new
NBA arena in downtown Oklahoma City are touch on:  

                                       v Link v

https://www.google.com/search?q=oklahoma+city+council+reacts+to+holt+nba+thunder+arena+&sxsrf=AJOqlzURbjbB3YeFPxeZh_mG7Q1ceZQP6w%3A1677331526690&source=hp&ei=Rgz6Y9zBJ-OyqtsPr6a72A0&iflsig=AK50M_UAAAAAY_oaVoF45ydhWM2u6Yky8ITdHHwcg_Wd&ved=0ahUKEwjc_MPu4rD9AhVjmWoFHS_TDtsQ4dUDCBE&oq=oklahoma+city+council+reacts+to+holt+nba+thunder+arena+&gs_lcp=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&sclient=gws-wiz#fpstate=ive&vld=cid:3051625e,vid:gByvphm5K18 (https://www.google.com/search?q=oklahoma+city+council+reacts+to+holt+nba+thunder+arena+&sxsrf=AJOqlzURbjbB3YeFPxeZh_mG7Q1ceZQP6w%3A1677331526690&source=hp&ei=Rgz6Y9zBJ-OyqtsPr6a72A0&iflsig=AK50M_UAAAAAY_oaVoF45ydhWM2u6Yky8ITdHHwcg_Wd&ved=0ahUKEwjc_MPu4rD9AhVjmWoFHS_TDtsQ4dUDCBE&oq=oklahoma+city+council+reacts+to+holt+nba+thunder+arena+&gs_lcp=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&sclient=gws-wiz#fpstate=ive&vld=cid:3051625e,vid:gByvphm5K18)

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Oklahoma City consulting firm, CMA Strategies is asking Oklahoma City residents whether they might support a one-cent sales tax over six year period to pay for a $750 million new arena to replace Paycom Center.

The poll also suggests the Oklahoma City Thunder ownership will contribute $75 million for a new arena in which the owners would be responsible for 10% of the $750 million price tag.

Oklahoma City Mayor David Holt indicated he was aware of the poll and doesn't believe it represents potential terms with the Thunder, though he confirmed "a team contribution has always been a part of the conversation."

Mayor Holt said, "Whenever I say this should be in line with recent models in similar sized markets, a team contribution has become a part of every recent arena deal, even in the smaller markets,"

                         (https://www.gannett-cdn.com/presto/2022/07/15/NOKL/6ebd2483-62f2-42db-8093-dc958e31865b-arena_locations2-01.jpg?width=660&height=497&fit=crop&format=pjpg&auto=webp)

The site currently home to Prairie Surf Studios  immediately north of the 20-year-old Paycom Center is widely viewed as the most likely location for a new arena because it has streetcar access on all four sides.

                         (https://deadline.com/wp-content/uploads/2021/06/prairetail-Night-exterior.jpeg?w=681&h=383&crop=1)

City officials and those running the studio agreed that when a five year lease was signed in 2020 the arrangement was not going to be long term.

"This is really the issue of 2023, at least from a mayor's perspective,"  Holt said during a live chat hosted by The Oklahoman in which he revealed the new arena will be a topic of community discussion this year. 

"Our $190 million arena is the smallest in the NBA, now above the average age, and it is the second-cheapest. And as one of the three smallest markets in the league, we have to do more, not less, to hold our place.   This will require my personal negotiation and advocacy as we work towards a proposal for the community to consider that will preserve a long-term relationship with major league professional sports."

Mayor Holt cautioned not to presume the poll represents potential terms of any new arena proposal.

The Oklahoma City mayor declined to confirm or deny the numbers cited in the poll.  He noted the poll by McFerron is prefaced with a request to answer questions based on whether "statements" would make the respondent more likely to vote yes or no.

The OKC mayor went on to say "People ask lots of questions in polls, I can't comment on conversations we are having ... dollar amounts are not decided.  Someone throwing a number out is speculation and not reflective of actual conversations."

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     OKCTalk reports:

     My understanding is there will be an announcement at the State of the City address on 7/20:


     ***********

     Holt: New OKC arena plan coming this summer
     By: Kathryn McNutt - The Journal Record - June 21, 2023

    OKLAHOMA CITY – Look for news about a new downtown arena sometime this summer, Mayor David Holt said Tuesday.

    "This summer we hope and expect to present a proposal to the people of Oklahoma City," Holt said. "It is definitely the issue of 2023."  

    Officials with the city and the Oklahoma City Thunder have been in conversations for a year about what the future looks like, he said. The
    city's long-term lease with the NBA franchise ended this month and the parties approved a short-term extension that runs through the
    2025-26 season.

    "We aren't in a long-term lease anymore and there is a sense of urgency," Holt said.

    In his 2022 State of the City address last July, Holt said a new arena is critical to keeping the franchise here along with the economic impact it
    makes.

    The Thunder staying in Oklahoma City is not something to be taken for granted, he said, noting there are 18 cities in the U.S. larger than
    Oklahoma City that do not have an NBA team and several of them have opened or have announced the development of NBA-level arenas.

    That's how Oklahoma City snagged its team. The SuperSonics – the franchise that moved here before the 2008-09 season – left Seattle after
    failing to get public funding to construct a new arena there.

    The downtown arena – now known as the Paycom Center – is 21 years old. It was included in the MAPS program passed in 1993 and opened
    in 2002 at an original cost of $89 million. At 586,000 square feet, it is the smallest NBA arena.

    Ten of the 30 NBA arenas cost more than $475 million to build and 22 exceed 750,000 total square feet. Square footage allows the amenities
    users expect, Holt said.

    "How long would it take to build a new facility if we decide to do so? Last time it took nine years," he said Tuesday. "It still needs to operate at a
    high level for a least a few more years."

    The City Council on Tuesday approved final plans and authorized bidding for one phase of improvements expected to cost $5.6 million.

    The voter-approved $1 billion MAPS 4 plan includes $111 million for upgrades to the arena, but city officials are holding back $70 million that
    could be used toward a new facility. It wouldn't pay for an arena but would be a start, Holt said.

    Three teams play in arenas that cost at least $1 billion when they were built – Golden State Warriors, $1.4 billion; Milwaukee Bucks, $1.2 billion;
    and Brooklyn Nets, $1 billion.

    Two others plan to open new arenas funded by their ownership. The LA Clippers are on track to open their $2 billion arena in 2024, and the
    Philadelphia 76ers' ownership say it will build a $1.3 billion arena.

    Holt wouldn't discuss how a new Oklahoma City arena might be funded because negotiations are ongoing.

    "People should be prepared for news," he said. "Be ready. It's coming."

    .





 

   

Quote from: Laramie on December 29, 2022, 09:16:09 PM

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How Taxes Can Dramatically Affect NBA Draft Pick Salaries


Oklahoma City, Oklahoma

     The State of Oklahoma's very own Oklahoma City Thunder have the second pick, and Oklahoma imposes an income tax on salaried NBA players, ranging from     
     0% to 5%, and Oklahoma City follows a similar tax range for its residents. The sales tax average is at 4.5% at the state level but lowers at the Oklahoma
     City level to 4.13%.

     While Oklahoma City is the capital of the State of Oklahoma, property taxes in the city remain the same as with the state government, and residents pay a               
     property tax of 0.87%. The Oklahoma City team expects to sign a contract for the projected salaries for the draft team, which amounts to an estimated       
     $24,288,551 as the market cap rises to $9,759,000.

Link https://www.citybiz.co/article/283168/how-taxes-can-dramatically-affect-nba-draft-pick-salaries/ (https://www.citybiz.co/article/283168/how-taxes-can-dramatically-affect-nba-draft-pick-salaries/)

I think there won't be much sympathy from me for any of them playing in any of those states!   First year they get minimum $1 Million paycheck.  By year 3, minimum is twice or about $2 Million.

As for Orlando in general gaslighting people about the no income tax thing - at $200,000 apparently they start a 22% tax rate.  (In the linked article)

And property taxes are especially high in Orlando, so much that it is a close call, depending on the house they buy, whether they would be better off in Sacramento!  Looking at the overall tax picture.

Quote from: heironymouspasparagus on June 22, 2023, 09:52:32 AM
I think there won't be much sympathy from me for any of them playing in any of those states!   First year they get minimum $1 Million paycheck.  By year 3, minimum is twice or about $2 Million.
As for Orlando in general gaslighting people about the no income tax thing - at $200,000 apparently they start a 22% tax rate.  (In the linked article)
And property taxes are especially high in Orlando, so much that it is a close call, depending on the house they buy, whether they would be better off in Sacramento!  Looking at the overall tax picture.

No sympathy from me either but I believe most states with an income tax will tax any income made in that state whether one lives there or not.

Quote from: Red Arrow on June 22, 2023, 11:24:35 AM
No sympathy from me either but I believe most states with an income tax will tax any income made in that state whether one lives there or not.

Apparently FL does, even though they crow about no income tax.  To the tune of 22% on income above 200,000 a year.  Maybe that is for NBA players only...?  Or maybe just Orlando?   Makes CA look pretty good comparatively.

TX says no income tax but their property tax more than makes up for it!

Quote from: heironymouspasparagus on June 22, 2023, 11:43:34 PM
Apparently FL does, even though they crow about no income tax.  To the tune of 22% on income above 200,000 a year.  Maybe that is for NBA players only...?  Or maybe just Orlando?   Makes CA look pretty good comparatively.
TX says no income tax but their property tax more than makes up for it!

Not sure which is worse...not keeping the $ one earns or not keeping the property one thinks they own.  Think "you" own your property...try not paying your taxes.  Gotta fund government somehow but there is probably no really fair way to do it.

Quote from: Red Arrow on June 24, 2023, 12:00:42 AM
Not sure which is worse...not keeping the $ one earns or not keeping the property one thinks they own.  Think "you" own your property...try not paying your taxes.  Gotta fund government somehow but there is probably no really fair way to do it.

Goes to the feudal systems that are thousands of years old.  You don't really own any property - all property rights are derived from a long line of grants, cessions, and actions allowing one to use some piece of property.  Just looking at the US, the King of England granted charters to companies and groups to occupy certain lands that he claimed to have control over.  The crown paid for colonies to come here and find economic opportunities, which would then pay tribute to the crown.  He put in seed money and expected a return - that's what capitalism is all about.   Isn't it?

Then a couple hundred years later, another group of rich guys decided they wanted to control the revenue streams, so had a revolution.  And the very instant they won, they started imposing taxes and fees (tribute) to the government.  So instead of a 3 cents per pound, there was a 10% tax on liquor.   Oh, let's not forget playing cards!  George put a tax on them as well as tea.  And then they repealed the tea tax in 1778 so there really was no reason to continue the war since the stated goal was achieved.

But we won, with the expenditure of wealth and resources, so now everything previously owned by the crown was now US.  So we get to pay tithes and tribute to the US now rather than the UK.  And no, you don't own any property anywhere, ever.   (Also, on a related note, you have no rights - see George Carlin.)

Meet the new boss.
Same as the old boss.

Quote from: heironymouspasparagus on June 24, 2023, 08:27:21 PM

Goes to the feudal systems that are thousands of years old.  You don't really own any property - all property rights are derived from a long line of grants, cessions, and actions allowing one to use some piece of property.  Just looking at the US, the King of England granted charters to companies and groups to occupy certain lands that he claimed to have control over.  The crown paid for colonies to come here and find economic opportunities, which would then pay tribute to the crown.  He put in seed money and expected a return - that's what capitalism is all about.   Isn't it?

Then a couple hundred years later, another group of rich guys decided they wanted to control the revenue streams, so had a revolution.  And the very instant they won, they started imposing taxes and fees (tribute) to the government.  So instead of a 3 cents per pound, there was a 10% tax on liquor.   Oh, let's not forget playing cards!  George put a tax on them as well as tea.  And then they repealed the tea tax in 1778 so there really was no reason to continue the war since the stated goal was achieved.

But we won, with the expenditure of wealth and resources, so now everything previously owned by the crown was now US.  So we get to pay tithes and tribute to the US now rather than the UK.  And no, you don't own any property anywhere, ever.   (Also, on a related note, you have no rights - see George Carlin.)

Meet the new boss.
Same as the old boss.

Sounds about right.

But there was the no representation thing.  Or so I've been taught.

Whiskey Rebellion:  https://en.wikipedia.org/wiki/Whiskey_Rebellion

Quote from: Red Arrow on June 24, 2023, 10:26:47 PM

Sounds about right.

But there was the no representation thing.  Or so I've been taught.

And when has there ever been representation?   Really.

The lack-of-supreme court actually admitted to and institutionalized that lack of representation when it declared corporations are actual people.   That has been the unspoken reality for much longer, but they came out and said it explicitly.

.
Just had a thought....the supreme court is to the judiciary as Mazzio's Supreme Pizza is to pizza!  Not.  Supreme or pizza....

Quote from: heironymouspasparagus on June 24, 2023, 10:35:25 PM
Just had a thought....the supreme court is to the judiciary as Mazzio's Supreme Pizza is to pizza!  Not.  Supreme or pizza....

It's been a while since I had pizza.  Pizza gives me acid reflux and I'd rather skip pizza than take medicine. One piece of pizza is OK but who can eat only one piece?

Surprisingly, hot chile peppers do not bother me.  I put habaneros in my weekend scrambled eggs.  I think it's the acid in the tomato sauce on pizza and or the fat from the toppings I like that gets to me.

Quote from: Red Arrow on June 25, 2023, 10:40:44 PM
It's been a while since I had pizza.  Pizza gives me acid reflux and I'd rather skip pizza than take medicine. One piece of pizza is OK but who can eat only one piece?

Surprisingly, hot chile peppers do not bother me.  I put habaneros in my weekend scrambled eggs.  I think it's the acid in the tomato sauce on pizza and or the fat from the toppings I like that gets to me.

Chili's are good for digestion!   Lots of people says it  bothers them but most of the time it is something else with the peppers.  SWMBO uses tabasco on a lot of stuff, but especially eggs/omelets!


Pepperoni will rip the guts out of a couple close family.  Same for Italian sausage.  Same happens to me if I eat those, so I stick with hamburger or mushroom or just cheese.  Not sure any of the local places put enough sauce on to reach the trigger threshold for reflux for us.

                         Updates on proposed new Oklahoma City arena:

    (https://journalrecord.com/files/2023/07/km-state-of-the-city-1-main.jpg)

Oklahoma City Mayor David Holt delivers '2023 State of the City Address, July 20, 2023.'

Excerpts: Mayor David Holt said Thursday voters may be asked later this year to extend the MAPS 4 Initiative temporary sales tax to help pay for a new arena for the Oklahoma City Thunder.

The MAPS 4 penny sales tax is set to expire in 2028.

Holt used his annual State of the City address to discuss the possible election and new arena. MAPS 4 Initiative has collected more than $390 million in a little over three years, including during the pandemic. Holt said if the city wanted to build the arena before the money comes in, it could consider taking out a line of credit. The city has an excellent debt rating, having received triple-A bond ratings from Moody's and S& P in 2023 for the 15th year in a row.

About $70 million in MAPS 4 funds that were initially earmarked for Paycom Center will serve to supplement that funding. And, Holt said, Thunder ownership will for the first time in city history make a "significant financial contribution" to the new arena, but he wouldn't say what that contribution will be.

Details still being worked out include arena cost and terms of the lease agreement, Holt said. He expects to bring an agreement forward by the end of the summer, which he defined as September 22, which would need a simple majority approval from the city council. A public sales tax election would require a majority of all votes cast.

Quote of the day:

"We will secure this team for such a span of time that I can tell you today that a superstar who will play for our city in this arena, in the next lease term, isn't even born yet," Holt said. "And yet, Sam Presti is probably already holding the draft pick to get him."

It was one year ago that the mayor first publicly addressed the idea that Oklahoma City may need to replace the 21-year-old Paycom arena to stay competitive and keep the Thunder in OKC.

Holt: New arena would exceed expectations:

Holt pressed the issue even harder Thursday, reminding listeners of Paycom's place as the smallest and second-cheapest arena in the NBA. It also sits right at the average arena age, and a new arena will take years to open if planning began today, he said.

A new arena would "exceed anything our residents have ever experienced," Holt said. It also will be designed for basketball, unlike Paycom.

Now that put a dagger in the hearts of those fans expecting a multipurpose arena built to accommodate 'Ice hockey' as well as NBA basketball.

It would be much larger, with more seats on the lower bowl and better sight lines all around, Holt said.

Councilman Todd Stone, who represents Ward 4, said it's "amazing" the city could build a new arena without raising the current tax rate.

The cost of modern NBA arenas:

    San Francisco's Chase Center at a cost of $1.4 billion
    Milwaukee's Fiserv Forum cost $524 million (Buck's share $174 million)
    Detroit's Little Caesars Arena $863 million
    Sacramento Golden 1 Center (2016) $558 million.
    The new Los Angeles Clippers arena will open next year and cost $2 billion.
    Philadelphia 76ers announced plans for an arena expected to cost $1.3 billion.

(https://s3.amazonaws.com/ballotpedia-api4/files/thumbs/200/300/David_Holt.jpg)

    "Our city just has to do what great cities do. We have to invest in ourselves."--Mayor David Holt


New State Fair Coliseum: https://www.youtube.com/watch?v=hdzR0Ja2sKg (https://www.youtube.com/watch?v=hdzR0Ja2sKg)

   (https://www.velocityokc.com/clientuploads/directory/super_blog/Rendering_-_New_Coliseum_Approach_Dusk_8-23-21.jpg)
     Oklahoma City leaders broke ground on a new coliseum at the OKC Fairgrounds making it the first recipient of MAPS 4 dollars to begin construction on a
     brand-new building.

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     This link posted on OKCTalk.com

      By chestercheetah - https://www.youtube.com/watch?v=uezIsYZUxS4 (https://www.youtube.com/watch?v=uezIsYZUxS4)

      OKCTalk.com [url][https://www.okctalk.com/showthread.php?t=47184&page=30&p=1239170#post1239170/url]

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OKCTalk.com news reported there is a new survey being circulated to some OKC residents by an anonymous source but almost certainly backed by the Chamber of Commerce.

     Based on the questions, it seems to pretty clearly lay out the arena plan which is to be presented to the public in final form by the end of the summer.

     There were more 'questions' but they were mainly laying the groundwork with the main points Holt has made in his speeches.

     Adding up the numbers: $891 million in sales tax + $70 million in MAPS 4 money + $75 million from owners = $1.036 billion. I strongly suspect this does not   
     include the cost of the property, assuming the Cox Center will be used.

     New survey suggests $1 billion for new arena 

          All the following were framed in the: would this cause you to vote for the measure?

               Definitely Yes
               Probably Yes
               Probably No
               Definitely No
               No effect



               1.  This sales tax will raise 891 million over six years to fund the arena.

               2.  Unlike MAPS, the city will borrow the money so it can start the arena quickly and then pay back the loan with tax revenue.

               3.  The ownership group is donating $75 million toward the arena even though the city will own it.

                With passage the Thunder will agree to a 25- year
                lease in the new building, securing the team in OKC
                for another generation.


Link to OKCTalk.com https://www.okctalk.com/content.php?r=977-New-survey-suggests-1-billion-for-new-arena (https://www.okctalk.com/content.php?r=977-New-survey-suggests-1-billion-for-new-arena)

Which NBA teams have the most international fans?:  https://kfor.com/news/local/which-nba-teams-have-the-most-international-fans/ (https://kfor.com/news/local/which-nba-teams-have-the-most-international-fans/)

      Top 10 NBA teams with the largest international fanbases:  

      1.   Brooklyn Nets: 52.80%
      2.   Golden State Warriors: 52.30%
      3.   Los Angeles Lakers: 52.00%
      4.   Minnesota Timberwolves: 51.40%
      5.   Los Angeles Clippers: 49.70%
      6.   Toronto Raptors: 49.70%
      7.   Oklahoma City Thunder: 49.20%
      8.   Boston Celtics: 49.16%
      9.   Milwaukee Bucks: 48.90%
    10.   Denver Nuggets: 47.90%
     
Officials say Brazil is the most common country to appear among the international fanbases of the
NBA, showing up 7 times as a team's largest international fanbase. Canada is close behind in
second place showing up 5 times on the list, while Australia places third with 4 appearances on
the list.

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Thunder Announces 2023-24 Regular Season Schedule:  https://www.nba.com/thunder/news/release-schedule-230817 (https://www.nba.com/thunder/news/release-schedule-230817)

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         Mayor Holt announces plan to build new arena without raising taxes,
    includes commitment by the Thunder to play in new arena
    beyond 2050 if voters approve.

         Link to the story:  https://www.okc.gov/Home/Components/News/News/4564/18?utm_medium=email&utm_source=govdelivery (https://www.okc.gov/Home/Components/News/News/4564/18?utm_medium=email&utm_source=govdelivery)

       Project minimum cost:  $900 milllion

                               (https://i.ytimg.com/vi/oWtAjUBlco8/sddefault.jpg)

                              New OKC Thunder Arena *CONFIRMED* Opening in 2029

                              https://www.youtube.com/watch?v=oWtAjUBlco8&t=45s (https://www.youtube.com/watch?v=oWtAjUBlco8&t=45s)


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     Oklahoma City Council approves letter of intent on proposed new downtown arena.
   

    Press release:

    **************

    City Council approves letter of intent with the Oklahoma City Thunder and sets Dec. 12 election to fund new arena
    09/26/2023

    Oklahoma City Council approved a letter of intent with the Oklahoma City Thunder today that potentially retains the team
    in OKC beyond 2050 and called a citywide election for Dec.12 to build a new, publicly owned downtown arena. The new arena
    is the primary condition for securing the commitment from the team.

    The new arena is proposed to be funded in part by a 72-month, one-cent sales tax that will start when the MAPS 4 tax ends
    and will not increase the sales tax rate.

    In the letter of intent, the Thunder's ownership group agrees to keep the NBA basketball team in Oklahoma City beyond 2050
    and contribute $50 million toward the cost of the new arena.

    he new arena will secure Oklahoma City's status as a destination for premier concerts and similar events. If passed, the new arena
    will be built downtown, but the exact location has not been determined.

    Workforce Intermediary Programs
    City Council also adopted a resolution directing the City Manager to negotiate the use of workforce intermediary programs by the
    new arena operator for recruitment, training and hiring of Oklahoma City residents who are in most need of jobs. The resolution
    also requires the new arena operator to pay its part-time and full-time employees a wage equal to what City of Oklahoma City
    employees earn for similar work. Additionally, the resolution creates a working group to study and evaluate the use of labor peace
    agreements at the new arena.

    Budget
    In addition to the 72-month one-cent temporary sales tax, the arena will be paid for with $70 million in MAPS 4 funding and $50 million
    from the Oklahoma City Thunder ownership group.

    Paycom Center
    The Oklahoma City Thunder will play all home games at the Paycom Center until the new arena is ready to move in, no later than the start
    of the 2029-2030 National Basketball Association season. The Thunder's 25-year commitment to remain in Oklahoma City begins when
    they move into the new arena.

    The Paycom Center 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.

    The Paycom Center 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.
 
    Arena Background
    The Oklahoma City Thunder has called Oklahoma City home since 2008. In 2023, the initial term of the 2008 use license agreement expired.
    The Thunder exercised an option to extend the agreement for three years to allow time for the city to develop a plan for a new arena.

    "I commend the Council for authorizing me to sign this historic letter of intent, I thank the Thunder for their partnership, and I congratulate
    all of OKC for getting to this point," Mayor David Holt said. "One step does remain, and that is the vote of our residents on December 12th.
    We encourage everyone to come out and set the course for our city's future."

                                                                                          #          #           #

     

     Media Contact - Kristy Yager (405) 297-2550 kristy.yager@okc.gov

   
   
   

         Beyond Paycom Center - ^  ^  ^  $900 Million arena          
         clears first hurdle ^ ^ ^         see press release above.

                   KOCO-TV 5 - Oklahoma City https://www.youtube.com/watch?v=L16HzefIYbQ (https://www.youtube.com/watch?v=L16HzefIYbQ)

     OKC kicks off campaign for NBA arena

      Voters will decide on proposal December 12th

      City leaders officially kicked off their campaign Thursday to convince voters to approve a $900 million arena for the
      Oklahoma City Thunder NBA team that would be largely paid for through a one cent sales tax.

      The launch event, which drew about 300 people to the Thunder Community Court at Scissortail Park in downtown
      Oklahoma City, was the start of what is expected to be a two-month-plus publicity blitz before the Dec. 12 vote under
      the banner: "Keep OKC Big League 2023."

      It came just two days after an Oklahoma City Council majority approved the new arena proposal and sent it to the ballot.

      Supporters say the new arena is critical to keeping the team in the city. Oklahoma City Mayor David Holt, who has publicly
      called for a new arena since July 2022, spoke at the event, urging supporters to spread the word ahead of the special election.

      His address reiterated comments he often has made since last summer, connecting the growth of the city to the Thunder's arrival
      in 2008 and casting approval of the new arena as maintaining the city's momentum.

      "This is the greatest gift we could give the next generation: an assurance that we will be a big league city beyond 2050,"
      Holt told the audience. "And that comes with all of the things that being a big league city has meant to us. You want to
      help people in our city? We have to have the economic strength to do that. We have to be 'big league.' " Sean Trauschke,
      both the CEO of Oklahoma General Electric Company and the chairman of the Greater Oklahoma City Chamber of Commerce,
      also spoke at the event. He echoed Holt's call for voters to support the new arena.

      "The impact of this arena goes so much beyond the jobs and the economic impact," Trauschke told The Oklahoman. "The idea
      that you're investing today for tomorrow, I think it's huge, and I don't think this is as much about us today as it is more about
      the kids. The next generation is the one that we're doing this for, and I think that's what we ought to be focused on."

      City's 'big league' status at stake after Thunder negotiations

      Opponents of the arena campaign argue that the penny sales tax meant to finance the arena could be better spent on other city
      projects, such as solutions for homelessness, mental health services, and infrastructure.

      They've also criticized the Thunder's ownership for contributing $50 million toward arena construction, about 5.5% of the minimum
      cost. Other NBA teams elsewhere in the United States have donated significantly higher percentages toward their arenas.

      "Our arena is going to be 95% on the back of taxpayers," Nick Singer, spokesman for Oklahoma Progress Now, said Tuesday.
      "We're in a city that has a tremendous amount of needs. We are often asked to delay things, to delay services that we desperately
      need, and we just feel that that's an unfair bargain."

      Holt acknowledged these criticisms Thursday but told The Oklahoman that his role as a leader was one of "cold realism" and that the
      city's growing international recognition was at stake if the Thunder were to leave.

      "My role, and it can be a thankless one at times, is to tell you the truth and to tell you the reality of this situation," Holt said.
      "I can't tell you fantasies. I can't tell you that you can have it all just the way you want it. This is a hyper-competitive business.
      I've been saying that for over a year now, and I said that for a reason. We are the 42nd-largest market in the United States in a
      league with 30 teams. We're going to have to do a lot to keep this team."

      "The only people who lose, if we don't keep the team, are the people of Oklahoma City, our economy, our ability to help people,
      our brand and our long-term economic growth," the mayor added.

      Thunder ownership, led by Chairman Clay Bennett, signed a three-year extension this year to continue playing in OKC while
      negotiations with city management were underway. If voters pass the proposal in December, the Thunder have agreed to play
      at Paycom Center, the city's current NBA arena, until the new one is built, and then play at the new arena for 25 years.

      Civic leaders begin showing support for the arena

      Dozens of businesspeople and civic leaders were among Thursday's crowd, including Kari Watkins, who is deeply familiar with what
      the city was like before the current arena was built and the Thunder arrived. Watkins is the executive director of Oklahoma City
      National Memorial & Museum, dedicated to the 1995 bombing of the Alfred P. Murrah Federal Building that resulted in the deaths
      of 168 people.''

      "In 1995, we saw our city come together in the worst of times, and we've proven that when we come together, we're better and
      stronger together," Watkins told The Oklahoman. "We're the city on the hill, and we've got a responsibility to keep the momentum going."

      Chris Semrau, general manager for Paycom Center, said Thursday's kick-off event was "a historic step" toward investing in the city's
      quality of life. He also told The Oklahoman that future plans for the current arena were still yet to be determined.

      "The focus has been on getting the vote passed, keeping the Thunder in the city and then looking at what all those opportunities create
      for the Thunder and the community," Semrau said.

      Semrau said it takes more than 1,000 workers in the Paycom Center to help successfully host events at the current arena, excluding any
      effect on surrounding businesses during a game day or a concert.

      "Hopefully, when we're successful here, some of the folks who may not support today will see the benefits that creates down the road,"
      Semrau said.

      Campaign costs to be determined, financers to be announced soon

      Tyler Moore, manager of Keep OKC Big League 2023, said the Greater Oklahoma City Chamber of Commerce is running the campaign,
      but that various contractors are occupying different roles. The Chamber has been promoting different initiatives on behalf of the city
      since 1910, when it coordinated an effort that saw voters make Oklahoma City the state's capital.

      "We were just extremely pleased with the turnout, and just the broad support we're receiving," Moore told The Oklahoman.

      "We're excited to continue this conversation with groups all around the city and the state."

      Cynthia Reid, senior vice president of marketing and communications for the Chamber, said the arena campaign will be funded
      through the chamber's membership and private funds of various partners.

      "We don't have a final budget," Reid told The Oklahoman.

      "I think that's always dependent on the opposition and counter-balance and what we need to do. We'll make that decision as we go.
      I can't really give you a number at this point.

       "Less is always better, but we'll spend what we need to in order to make this happen."

      A list of different businesses and organizations officially endorsing the arena proposal is expected to be released in the coming weeks,
      Reid said.   

                (https://s.yimg.com/uu/api/res/1.2/WjaBMhP_UZdzea7pnH2POQ--~B/Zmk9c3RyaW07aD0zNjA7dz02NDA7c209MTthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/kfor_oklahoma_city_25/2bd0d4d8e74b12058d644b57c717b0c2)

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  Where could the new Oklahoma City arena be located?

               (https://images.squarespace-cdn.com/content/v1/5498cce2e4b044170dcb783b/1447195023777-GV4QL9JEPRVHJ5DQJVD5/537EV-west+edited.jpg?format=2500w)

         Video Link:   https://www.koco.com/article/oklahoma-city-new-arena-thunder-okc-location-opening-building-vote/46121620 (https://www.koco.com/article/oklahoma-city-new-arena-thunder-okc-location-opening-building-vote/46121620)


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     Oklahoma City Seeks Partner For Billion Dollar Arena Project:

                (https://i.ytimg.com/vi/uezIsYZUxS4/sddefault.jpg)

               Video Link:  https://www.youtube.com/watch?v=ZSggtjpqSok (https://www.youtube.com/watch?v=ZSggtjpqSok)

  

                   
The current Prairie Surf Media Studios, formerly the Cox Convention Center originally opened in 1972 on a 4-square block site near the 50 story Devon Energy Center has been given council's approval to build the new downtown arena.

Oklahoma City has issued an RFP for an architectural consultant for the city's new $950 million arena, which will be home to the NBA's Thunder and replace Paycom Center. The city and the NBA team's development agreement was approved by the city council during a late May meeting, allowing the project to advance.

The arena will be built on the site of the former Cox Convention Center (which needs to be demolished) and completed no later than the summer of 2029, though the city's goal is to open the venue by the summer of 2028.

Oklahoma City leaders will select from a field of seven architecture firms to design the new home of the Oklahoma City Thunder:

The city's MAPS office released the names of the firms that submitted bids but has not yet released the actual bids each firm provided.

AECOM, Gensler, HKS, Overland Partners, Perkins and Will, Populous and Thompson, Ventulett, Stainback & Associates all tossed their names in for consideration.

The RFP details the city's proposed schedule for proceeding, with an initial deadline of July 17, an August 5 notification of short-listed firms, and interviews with finalists by September 5. The city also plans to recruit a construction manager later this year.

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Architects start work on Oklahoma City's new $1B downtown arena.

OKLAHOMA CITY, OK — It was the first of many meetings – which continued throughout Wednesday with other stakeholders – to discuss what the arena should be, how people will move through it and how it should make them feel, David Manica, design architect, said.

The City Council approved a $61.6 million contract with the architectural team on Tuesday for the design and development of the arena. The team:
Kansas City-based Manica Architecture, the design architect
Atlanta-based Thompson, Ventulett, Stainback & Associates Inc., or TVS, the architect of record.

"Both TVS and Manica Architecture have designed iconic arena and stadium projects worldwide," said David Todd, the city's project director. "They have a proven track record of creating functional, memorable buildings that communities are proud of."

Todd said the two firms routinely work in a team model and currently are working together on the Tennessee Titans' new Nissan Stadium in Nashville. Their most recent NBA collaboration was the Chase Center in San Francisco, home of the Golden State Warriors.


Manica said he sought the Oklahoma City project because he only wants to design buildings people love to go to and that make a difference to the city where they are.

"In many ways, this is my dream project," he said. "It's going to be a catalyst to spur additional growth and development in downtown."

He first came to Oklahoma City on behalf of the NBA nearly 20 years ago to evaluate the existing arena for its potential to bring an NBA team to town.

Manica Architecture will be engaged throughout the first half of the process until "the whole project is figured out," and TVS will be responsible for all the technical aspects including the construction documents, Manica said.

He expects to have some renderings completed next summer.

The arena will be built on the city-owned property where Prairie Surf Studios (formerly the Cox Convention Center), is located. The existing building is expected to be demolished in 2025 and construction to start in 2026, with completion scheduled for 2028.


The facility is to be a first-class, state-of-the-art NBA arena and entertainment venue of at least 750,000 square feet at a total budget of about $1 billion.

"The budget is just what it needs to be to build an arena that's first-class but not extravagant," Manica said. "We understand its public money."


"Each of David Manica's projects has distinctly transformed the geography and skyline of its location, while significantly enhancing the potential for an exceptional guest experience," Bennett said.

"I'm personally very much looking forward to the creative process and learning how our new arena will be visioned and designed, as well as seeing a concept brought forth that will be the pride of every citizen."

The new arena will be funded by a 72-month, one-cent sales tax that will start when the MAPS 4 tax ends, with an additional $70 million in MAPS 4 funding and $50 million from the Thunder ownership group.

Construction workforce
During Tuesday's discussion, Ward 2 Councilman James Cooper asked about efforts to connect local people with construction jobs and apprenticeships on the project.

City Manager Craig Freeman said the scope of the project ensures there will be significant opportunities for both local trades workers and apprentices. "The industry really wants to encourage apprenticeships so they can grow their trades," he said. "That's important to them as well."

Ward 5 Councilman Matt Hinkle said his concern is the workforce shortage in the local construction industry considering all the public and private developments going on.

"I think it's going to only grow," Freeman said. "The multiuse stadium is going to be going about the same time, so there's going to be a significant demand on the local workforce. I have no doubt, with the number of projects that we have, we're going to have to have workers from outside of our community coming in, but we're going to do everything we can to maximize the local workforce."

Todd said the arena project will require more than 30 local subconsultants in areas ranging from food service and mechanical, electrical and plumbing to energy modeling and specialty lighting.

The Thunder will continue to play home games at Paycom Center until the new arena opens and have committed to play there for 25 years.