Oklahoma Metropolis voters on Tuesday accredited a 1% sales tax for six years to assist fund a brand new downtown area for the NBA’s Thunder that’s anticipated to value at the least $900 million.
The Oklahoma State Election Board reported that 71% of town’s voters accredited the plan.
The vote is an instance of the connection between the staff, followers and the group, NBA Commissioner Adam Silver stated in an announcement.
“We are grateful to the people of Oklahoma City for the confidence they have shown in both the Thunder and the NBA as we embark on a new era of global sports and entertainment,” Silver stated.
Below the deal, the Thunder agree to remain in Oklahoma Metropolis by way of at the least 2050.
The Thunder’s possession group will contribute $50 million towards development of the brand new area. The deal additionally requires $70 million in funding from a gross sales tax accredited by voters in 2019 for upgrades to the present Paycom area.
The proposal was strongly endorsed by Oklahoma Metropolis Mayor David Holt and officers from the Better Oklahoma Metropolis Chamber of Commerce, who argued that protecting the Thunder is an integral a part of town’s progress and financial growth.
“We told the nation, we told the world, that Oklahoma City is and shall remain a Big League City,” Holt stated in a written assertion following the vote.
The gross sales tax will start April 1, 2028, when the present gross sales tax ends, so town’s gross sales tax charge will stay unchanged. An actual location hasn’t been decided, however the deal requires the sector to open in time for the 2029-2030 NBA season.
The group Oklahoma Progress Now, which opposed the proposal, stated the result “though not what we hoped for, reflects the democratic voice of Oklahoma City.”
Council members Nikki Good and JoBeth Hamon additionally opposed each the proposed gross sales tax and the letter of intent with the Thunder house owners.
“This deal was negotiated from a position of fear and scarcity, which benefits those who are wealthy, while the benefits never trickle down to regular folks,” Hamon wrote on the social media platform X, previously referred to as Twitter.
A bunch of greater than 25 native economists additionally urged a “no” vote on the sector, arguing that it got here with out worth caps and wouldn’t have a significant influence on financial progress.
The NBA franchise — which was the Seattle SuperSonics — moved to Oklahoma City in 2008.
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Related Press sports activities author Cliff Brunt and author Ken Miller in Oklahoma Metropolis contributed to this report.
