Thunder Stadium Vote

[Frederick]

well, we have to balance it with the fact that (1) the stadium doesnt belong to Thunder, it belongs to the City, and is leased to the Thunder. (2) from what i've heard, it's one of the smallest in the NBA. (3) how much money does the thunder bring to OKC in terms of revenue?

 

[HoLeChit]

well, we have to balance it with the fact that (1) the stadium doesnt belong to Thunder, it belongs to the City, and is leased to the Thunder. (2) from what i've heard, it's one of the smallest in the NBA. (3) how much money does the thunder bring to OKC in terms of revenue?

https://www.velocityokc.com/clientuploads/PDFs/Economic_and_Revenue_Impacts_of_OKC_Arena.pdf

In 2022-23, Paycom Center hosted 43 Thunder home games, 23 Oklahoma City Blue home games and 47 other ticketed events including concerts and other sporting events

-Attendance at Oklahoma City Thunder games and other events has largely rebounded from the pandemic with close to 1.1 million people attending events at Paycom Center in 2022-23, and average attendance at Oklahoma City Thunder games is continuing to increase 2023-24.

-This analysis provides a framework for understanding the economic and tax impacts that the arena supports using information provided by ASM Global and the Oklahoma City Thunder. The report includes the continuing economic impacts of jobs supported by the operations of the arena and the Oklahoma City Thunder, visitor spending outside the arena, and tax revenues from visitors and employees.

-All total, the arena supports an estimated annual economic impact of $590.0 million in Oklahoma City.

-Paycom Center currently hosts 114 events per year. The number of ticketed third-party events could increase. The operations of the arena and the operations of the Oklahoma City Thunder support an annual economic impact of $513.0 million, directly and indirectly supporting close to 2,500 jobs and $273.8 million in annual labor income.

-With a total of about 472,900 non-local visitor days per year for basketball games and ticketed thirdparty events, the arena supports an estimated $45.5 million in annual visitor expenditures outside the arena for lodging, food, retail and local transportation. This level of visitor generates an induced economic impact of $77.0 million per year, supporting 795 jobs at local businesses.

-The estimated construction cost for a new arena is $900.5 million, including $693.0 million in hard costs that create local economic impacts. The estimated economic impact of construction could total $1.3 billion, supporting over 10,000 jobs during the construction period.

-In addition to these economic impacts, local spending by ticketed event attendees in the arena and outside the arena, as well as household spending by arena staff, Oklahoma City Thunder players and staff, and indirect and induced workers supported by the operations of the arena supports $9 million in city taxes, $4 million in county, school and other local district taxes and $17 million in state taxes each year.

-Although the new arena is still in the early planning stages, estimated total construction costs are $900.5 million. Of this total, hard construction that could support local jobs and economic impacts could total $693.0 million. The multiplier effect of this local construction spending could result in a total increase in economic activity of $1.3 billion during the multi-year construction period (Figure 2). The project could support an estimated 6,630 direct construction jobs and an additional 3,620 indirect and induced jobs related to local suppliers and employee spending in Oklahoma City.



There's lots more in the report, and its worth a read. But these numbers are for the old stadium. and is just in reference to NBA business brought to our city. If we had a bigger/better stadium we could get a lot more non-NBA events as well, which again, is more money on top of the more money we would be getting from NBA spending. This report is also in reference to just 1 year, so that 900 million ends up giving us returns for at least the next few decades. The report doesn't include the new hotels and restaurants built, the jobs they create, and the cash they bring. We've already had a lot of them, and we'll just be getting more as we grow.

Further, here's the old Thunder Lease summary, which includes money coming to us from the NBA not factored in to the report above, to include ticket sales, parking fees, and facility use fees. These will all be going up when our facilities are nicer too.
https://law.marquette.edu/assets/sports-law/pdf/lease-summary-oklahoma-city-thunder.pdf

 

[dennishoddy]

Only thing I have seen is that the building of the stadium in 1968-72 cost 300-something million, there were two renovations with budgets not posted, a 500 million (in 2022 dollars) renovation done in 2010, and now the chiefs are asking for another renovation of a similar tune.

Not related to this discussion probably, but the Arrowhead stadium in Kansas City and I were pretty good friends for a few years. We traveled to a lot of games over the years privately and as part of a bus group.
The stadium is not covered. Wide open to the elements. The fans are fanatics.
Arrowhead stadium has just about as many people tailgating outside the game on game day as are in attendance inside. It's a raucous party that no stadium we have ever been to can even come close to rival.
At the end of the game and party.....the parking lot is left spotless for the most part.
Maybe fan support has a play with them staying there? I don't know. The NFL, NBA, and most sports in general that went woke are not my friends anymore and refuse to support or watch the woke idiots. So, I'm out.
Y'all carry on.
Edit: didn't realize they were covered now. We sat in the ice storm in the late 80's, covered in trash bags. Very few left the uncovered stadium before the last play.

 

[CoronaBorealis]

well, we have to balance it with the fact that (1) the stadium doesnt belong to Thunder, it belongs to the City, and is leased to the Thunder. (2) from what i've heard, it's one of the smallest in the NBA. (3) how much money does the thunder bring to OKC in terms of revenue?

The Paycom is not one of the smallest in the NBA.

https://www.velocityokc.com/clientuploads/PDFs/Economic_and_Revenue_Impacts_of_OKC_Arena.pdf

The real question is “Does OKC need a new arena” or “Does OKC want a new arena”.

 

[xseler]

I guess that I'm wondering what they are gonna do with all of the capacity of a new stadium, PayCom, and the Myriad. Each facility will require a budget for maintenance and repairs, and utilities. Will the older facilities pay their way, or will they just be a drain?

 

[El Pablo]

I guess that I'm wondering what they are gonna do with all of the capacity of a new stadium, PayCom, and the Myriad. Each facility will require a budget for maintenance and repairs, and utilities. Will the older facilities pay their way, or will they just be a drain?

Myriad is no longer a thing. It’s a film studio.

 

[dennishoddy]

I guess that I'm wondering what they are gonna do with all of the capacity of a new stadium, PayCom, and the Myriad. Each facility will require a budget for maintenance and repairs, and utilities. Will the older facilities pay their way, or will they just be a drain?

Good point.

 

[okcBob]

Group of economists says new arena won't financially benefit Oklahoma City; Mayor Holt pushes back

Oklahoma City Mayor David Holt reacted to a letter by nearly two dozen economists who argued a new arena would not financially benefit the city.

www.koco.com

Plenty of opinions on the economic impact

 

[HoLeChit]

The real question is “Does OKC need a new arena” or “Does OKC want a new arena”.

I feel like its a little bit of both. OKC doesn't necessarily NEED a new arena, however, to continue with our forward motion, and growing while attracting more dollars and bigger events to show up to our city from outside, we need something. An arena is a great way to do all that, in a way that will benefit us all. Do we want one? Many do. I'm indifferent about it, to be honest. I am a big fan of outside dollars coming in, more employers coming in, and Oklahomans having more job opportunities and income potential. The chance of getting to have some fun in the process it just a perk.

 

[Waltercat]

What is the location of the new arena?