Oklahoma City to begin talks on new NBA arena.

[Laramie]

Oklahoma City Mayor Holt hints 'It's time for a new NBA arena.'

Oklahoma City Thunder is putting its Thunder Alley development on hold as Mayor David Holt wants to pause $70 million in MAPS 4 upgrades as the NBA
Thunder and the City  begin talks on whether to build a new and more modern NBA arena to replace the current 20 year old Paycom Center.

The Oklahoman reported:   The Thunder is currently in a 15-year contract at Paycom Center that expires in 2023. Mayor David Holt announced at Thursday's State of The City address that the team has agreed to a three-year extension.

"Obviously we want a long-term relationship with professional sports in this city," Holt said. "And to do that, you have to have facilities that are current and competitive."

"A lot of people think of arenas in terms of the seats," Holt said. "That's only part of the experience that drives revenue for sports teams and concerts alike. You have to have all this other room for all the other elements of user experience. And our square footage (586,000 square feet), is the smallest in all of the NBA — and not by a little."

Oklahoma City Paycom Center Arena

The original cost to build OKC downtown arena was financed thru MAPS I debt free $89 million budget.   After the devastation of Hurricane
Katrina to New Orleans Arena, the NBA Hornets made Oklahoma City their temporary home for both the entire 2005–06 and 2006–07 seasons.

The trail run as it was referred to back then, allowed OKC to test its market for an NBA franchise.  In 2005-06 the team averaged 18,168 and in 17,833 in 2006-07.

The success of the Hornets in OKC, caught the eye of former Mayor Ron Norick and Clay Bennett who had attempted to lure an NHL expansion
franchise back in 1997.

A group of businessmen led by Clay Bennett purchased the NBA Supersonics for $350 million in 2007 and relocated the franchise to Oklahoma City rebranded as the Thunder to begin 2008 season.   

When the City was awarded the relocation of the NBA Supersonics in 2008, the NBA stipulated that The Ford Center needed upgrades and an NBA practice facility.  A subsequent extension vote 'MAPS for HOOPS' was passed in 2010 that provided $120 million to cover $100 million upgrades to the Ford Center and $20 million for a new NBA practice facility.   The teams' temporary practice facility in Edmond is now home to the Oklahoma City Blue formerly the Tulsa 66ers.

[Laramie]

Via OKCTalk.com

Pete's assessment (Post #2321) on the current super block Cox Convention Center/Old Myriad site (top center) now home to Prairie Surf Studios (2020 five year lease) appears to be the most economical option. The four block site used for construction the Myriad Convention Center in 1969 was financed by a bond issue. The city currently owns this site.

It seems more economical to demolish the old Cox Convention Center site, salvage the underground parking. The site has more than enough room to build a new NBA/NHL regulation arena.

The Cox Convention Center's arena still has 11 miles of pipe used for ice making equipment still underneath and 900 cover underground parking spaces.  This site is close to the new Oklahoma City Convention Center 1200 space parking garage.

The old Myriad/Cox site is bounded by Norick, Reno, Sheridan & Oklahoma avenues.

View the discussion at OKCTalk.com https://www.okctalk.com/showthread.php?t=23863&page=117&p=1208845#post1208845

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[Laramie]

Oklahoma City contemplates new arena investment for OKC Thunder and City.

Time for the discussion to begin...

My personal view on this subject--it's long overdue.   When you look at our sister city of Tulsa's BOK Center (arena) exterior; you have to give it up to the leadership and planners for Tulsa's jewel vs. the bland 'Frankenstein look' you see in Paycom Center's exterior where it looks like the recipe of a dump cake 'gone wild.'   Sure, its debut exhibited the two 'P's' Promise & Potential.  In comparison to the Great Arena inside the Cox Convention Center and the antiquated 'Fairground Arena' at the OKC Fairgrounds, Paycom Center looked better than either one on its 'bad hair' day.

Now you're in a league where you have to 'keep up with the Joneses.'  Yes, we're talking about similar-size cities like Memphis, Salt Lake City, New Orleans and Milwaukee and watch your back because St. Louis, Kansas City, Cincinnati, Pittsburgh, Las Vegas, Louisville & Raleigh would welcome the Thunder NBA franchise and think less about the Ten Commandments 'Thy shall not covet...'

Now, although it has been 14 years since the Oklahoma Raiders (Reference made toward Thunder ownership group) stole the Supersonics from the 'Emerald City' for $350 million in 2006; franchise now valued at $1.6 billion--you would have to think that OKC's karma will eventually sweep down on OKC much like locust in a wheat field on the Oklahoma prairie.

OKC now has to challenge our NBA larger neighboring cities south of the 'Red River' like Dallas, Houston and San Antonio.  

OKC's arena opened in 2002, built on an inexpensive budget of $89.9 million with a bare bones structure in need of amenities from day 1.   The NBA approved the sale and arena with a stipulations that upgrades were necessary to keep the franchise in Oklahoma's largest city.  OKC voters responded two years later with a $120 million extension of an existing MAPS initiative (MAPS for HOOPS) that financed a $20 million NBA 'Practice Facility' and $100 million in upgrades to the then named 'Ford Center' in the heart of downtown OKC.

Yes, unlike our Sister city Tulsa, we are now seeing the aftermath of an arena that can't be expanded to provide the 'fan friendly amenities' promised to voters who approved previous MAPS initiatives to make OKC's arena competitive with other NBA venues.  More modifications to achieve those amenities for fans which included an exterior balcony terrace would add to the $195 million already (includes $8 million 2017 Go Bonds) paid in upgrades to support Wifi.

Where do well build a new arena and how will it be financed:

Probably the most appealing piece of parcel in OKC that could support a new arena with the NBA Thunder as an anchor tenant is the former Cox Convention Center (former Myriad), a 4-square block site (north) across from the Paycom Center. It's city owned and has 950 underground existing covered parking spaces available.  

Here is an illustration submitted by OKCTalk poster Catch22 comparing San Francisco's Chase Center on that 4-square block site:

             

You can see where the Chase Center sits with room to spare on the 4-square block site above.  This is OKC city-owned land which would save on the cost of land acquisition and possibly some costs for utilities.  The former Cox site would have to be demolished to make room for the new arena which could be built over existing underground parking.  

Oklahoma City since 1993 has financed projects and improvements thru the Metropolitan Ares Projects Plan (MAPS) which is a 'pay as you build' debt free initiative financed by a continuous collection of a 'penny sales tax.'   This allows the projects to be 'debt free' as the money is collected before the project is built and adjustments are made according to 'budget.'   Some of the recent projects had 'surplus funds' used to finance existing projects or redirected for future projects like the proposed 'State Fair Coliseum' in MAPS 4 expected to be completed in 2024-25 with ground breaking anticipated sometime this year.

Suggestions have been made about the moving the NBA's Oklahoma City Thunder to Tulsa's BOK Center while a new arena is being constructed in OKC.  There wouldn't be a need for a 'temporary relocation' of the franchise since the team would continue to use Paycom Center 18,203 seating capacity while a new arena is being constructed.

Mayor David Holt has put some $70 million in MAPS funds on 'pause' in anticipation of more information in favor of a new arena that could be upgraded to extent its life.  This would keep the Thunder in OKC for a longer term and fend off suitor cities.

If the Paycom Center's future plans include possibly using the arena for 'AA' ECHL Ice hockey to get OKC a franchise to renew rivalries with Tulsa and Wichita, Paycom Center then could be reconfigured for Ice hockey with a fixed capacity of 15,152 and still continue to be used for rodeos and concerts.  Two arenas ranging in size 15,000 to 18,000 would allow flexibility for more concerts (depends on concert seating configuration) to be booked in OKC, without having to skip OKC and use BOK Center as the main Oklahoma premier venue for major concerts.  You also have to factor in the sports and entertainment dollars available in a city the size of OKC which boasts 687,725 residents (now the 20th largest U.S.); yet not as highly ranked metro (42nd) with 1,441,647 MSA population supporting an NBA franchise.

...The Costs of a new Oklahoma City main arena and what will become of Paycom Center.

Three months from now (October) when the NBA season opens you will begin to hear about the discussion and the stages that will lead to an NBA home for the Thunder instead of Paycom Center.

Will an extension of the already MAPS 4 $978 million (be extended beyond April 1, 2028 or would it include some kind of bond funding) to pay for the new arena construction.  

Will there be a proposed arena comparable to Las Vegas' T-Mobile Arena's $375 million or something on the higher scale of Detroit's T-Mobile Arena's $862.9 million price tag  or something in between.

Stay tuned...




 

[Laramie]

Oklahoma City Mayor Holt says it's time to seriously start thinking about a new arena

         
                                                   Oklahoma City Mayor David Holt's rant . . .
                   https://www.youtube.com/watch?v=PConR_sbigk

      Mayor Holt has put $70 million on 'pause.' The arena would take years to develop and build. In the meantime,
      Thunder Alley upgrades and anything non-essential will be put on pause. That way the money can go toward
      a new space.

     Holt also made a push for voters to consider the OKCPS bond issue. This would be a $600 to $900 million-dollar
     bond that would go toward upgrades like new schools and new programs for students and more.

[Laramie]

          

                 
                 New $261 million 602 room luxury Omni Hotel (left) and new $288 million Oklahoma City Convention Center (right) opened in 2021.
                 City paid ($85 million) in funds toward Omni Hotel construction.  These building are debt free.

       Oklahoma City, a state-of-the-art $288 million convention center built in 2021 that is debt-free; includes massive 500,000-sq-ft interior includes
       a 200,730 square-foot exhibit hall on the first floor, which is divisible into four halls. About 45,000 square feet of meeting spaces are on all levels of the
       building.

       The rooms can be configured to provide up to 27 meeting spaces.
         
       Now we need a new state of the art arena to match the convention center. Anticipate the cost of the new arena with 37% inflation on building
       materials to cost $450 million to $500 million on city owned land (My own personal estimate--could be higher).  
 
       City owns several downtown parcels like the 4-square block former Cox Convention Center site (occupied by Prairie Surf Media Studios).

       https://okcfox.com/news/local/new-thunder-arena-coming-okc-mayor-says-early-talks-happening
       
       How are we able to pay off the debt; Bonds and/or sales taxes.

       $70 million MAPS 4 Funds (PAUSE) already collected; some of these funds may be used for arena architectural designs.

       Extension vote: Oklahoma City 2017 General Obligation Bonds June 2017 ends June 2027 (10 years)
       Extension vote: MAPS 4 initiative sales tax collection began April 2020 ends April 2028 (8 years)

       Oklahoma City Council will meet next month (Tuesday, October 4, 2022) with Oklahoma City Thunder ownership group representatives to begin preliminary
       talks on a new arena.

       Specifications on new arena to include NBA seating capacity, number of suites, premium and loge seats will be determined to yield a cost estimate
       of the new arena.  An architectural firm has yet to be involved or employed.   The $70 million funds from improvements to the Paycom Center (Put on Pause
       by Mayor David Holt) is apart of the funding source that could be used to craft prelims for the new Oklahoma City main arena.  

                     

                                     
       

        By Margaret Naczek  –  Reporter, Milwaukee Business Journal, August 26, 2022

        The Greater Oklahoma City Chamber and executives from Oklahoma City (100 people) had a 48-hour intercity visit to Milwaukee, learning about key
        venues and initiatives in the city from the Henry Maier Festival Park and Fiserv Forum to educational initiatives and the riverfront development.
       


       

[Laramie]

Is it time for the Oklahoma City Thunder to get a new arena . . .



$190 million invested, new seats are currently being installed and a new scoreboard

Rylan Stiles, Locked on Thunder Podcast:

https://www.youtube.com/watch?v=bWhiJSBITRc

[heironymouspasparagus]

Geez.... our fascination with the trivial and uninteresting...   (That would be pro biscuitball, foootball, etc.)

[Laramie]

Geez.... our fascination with the trivial and uninteresting...   (That would be pro biscuitball, foootball, etc.)

Agree, he didn't seem prepared to talk about the arena issue.  He did make a few interesting points about city
getting a new arena; because my personal opinion, the arena looks great inside, but there's not enough room
to reward the fans with fan-friendly amenities like an outside terrace and more space to avoid the crowded
feeling you get when inside Paycom Center.  OKC has $190 million invested in Paycom Center.

                   

Voters will approve a new arena to be funded probably by a combination of General Obligation Bonds approved $967 million
for parks,streets, bridges and roads infrastructure, those 2017 bonds expires in 2026 and the recently approved
MAPS 4 Initiative in 2020 expired in April 2027.

Sales tax collections in OKC have exceeded expectations and the city anticipates $1.1 billion in collections instead of
the projected $963 million.  Mayor Holt put $70 million on 'pause.' until The City and the ownership group meets to
work out a plan to finance the new facility.

IDK what to expect other than a new arena built on the 4-square block Cox site costing $500 million - $800 million since
the old Cox Convention Center site (former Myriad Convention Center) has underground parking for about 950 cars
with an across the street new convention center 4 story parking garage for 1,200 vehicles.  You have parking for
close to 9,000 vehicles in the area's walking distance.

The old cox site except for the underground parking will need to be demolished.  The 4 square block site will provide
more than enough room to build a new state-of-the art arena.  Since the City already owns this site, it will save close
to $150 million in land acquisition, foundation, parking and basic infrastructure.

The current Paycom Center could be used for minor league ice hockey since it has a minimum permanent ice hockey
seating capacity of 15,152 and some rodeo events that would need a larger capacity than the 5,000 seat $90 million
estimated cost for the new State Fair Coliseum to replace the aged State Fair Arena.

Mayor Holt wants a competitive arena above those of our peer five small market cities like  Milwaukee (1,566,487),
New Orleans (1,336,103) and Salt Lake City (1,263,061) and the rest of the NBA markets. OKC's MSA area (1,441,647)
is second behind Milwaukee in small markets with less than 2 million MSA population.

An $800 million state-of-the art facility could be paid off in 3 years with $350 million funded thru an extension of 2017
General Obligation Bonds and $450 million thru an extension of MAPS 4.  The Cox site valued at $150 million and
the figures (which could be more or less) would yield $950 million development.


Oklahoma City Council will meet next month (Tuesday, October 4, 2022) with Oklahoma City Thunder ownership group
representatives to begin preliminary discussions for a new OKC NBA venue.

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[Laramie]

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    NBA arenas - top ten:

         1. Chase Center, San Francisco, $1.48 billion, 2019 - 18,064
         2. Fiserv Forum, Milwaukee, $1.2 billion, 2018 - 17,385
         3. Barclays Center, Brooklyn, $1 billion/$1.18 billion in 2021 dollars, 2012 - 17,732
         4. Little Caesars Arena, Detroit, $862.9/$988 million in 2021 dollars, 2017 - 20,332
         5. Golden 1 Center, Sacramento, $558.2 million, 2016 - 17,608
         6. Amway Center, Orlando, $480 million/$604 million in 2021dollars, 2010 - 18,846
         7. American Airlines Center, Dallas, $420 million/$643 million in 2021 dollars- 2001 - 19,200
         8. Crypto.com Arena, Los Angeles, $375 million/$610 million in 2021 dollars- 1999 - 19,079
         9. Scotiabank Arena, Toronto, $265 million/$404 million in 2021 dollars - 1999 - 19,800
       10. Moda Center, Portland, $262 million/$466 million in 2021 - 1995 - 19,393

             Average cost of the top 10 NBA arenas: $675 million
             Average age of the top 10 NBA arenas: 8 years, 6 months
             Average capacity of the top 10 NBA arenas: 18,824

Source Thunderwire - July 2022: Ranking all 29 NBA arenas in terms of construction cost:  https://okcthunderwire.usatoday.com/lists/ranking-all-29-nba-arenas-in-terms-of-construction-cost/

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[heironymouspasparagus]

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Geeezzzzz.... OKC is idiotic.