Oklahoma City voters approve tax for $900 million enviornment to maintain NBA’s Thunder by 2050
OKLAHOMA CITY — Oklahoma City voters on Tuesday accredited a 1% gross sales tax for six years to assist fund a brand new downtown enviornment for the NBA’s Thunder that’s anticipated to value not less than $900 million.
The Oklahoma State Election Board reported that 71% of the 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 a press release.
“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.
Under the deal, the Thunder agree to remain in Oklahoma City by not less than 2050.
The Thunder’s possession group will contribute $50 million towards development of the brand new enviornment. The deal additionally requires $70 million in funding from a gross sales tax accredited by voters in 2019 for upgrades to the prevailing Paycom enviornment.
The proposal was strongly endorsed by Oklahoma City Mayor David Holt and officers from the Greater Oklahoma City Chamber of Commerce, who argued that retaining the Thunder is an integral a part of the town’s progress and financial improvement.
“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 the town’s gross sales tax charge will stay unchanged. An precise location hasn’t been decided, however the deal requires the world 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 Nice and JoBeth Hamon additionally opposed each the proposed gross sales tax and the letter of intent with the Thunder homeowners.
“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 generally known as Twitter.
A bunch of greater than 25 native economists additionally urged a “no” vote on the world, arguing that it got here with out value caps and wouldn’t have a significant impression on financial progress.
The NBA franchise – which was the Seattle SuperSonics – moved to Oklahoma City in 2008.
