New Oklahoma City Arena--Beyond Paycom Center.

[Laramie]

               

               


Thunder GM Sam Presti comments on new potential arena and concerns of it being publicly funded

“Now, part of it is because of how we started 15 years ago when we arrived. That starting point, like from scratch, from nothing, from no logo — this was nonexistent — you build relationships, and I think that you also recognize that the mutual value of those relationships. So that’s the greatest thing when I hear Mayor Holt speak. . .

. . . “The thing I love about Mayor Holt is he’s maintained that aspiration to strive for having first class things in Oklahoma City. I think that’s great.”

                    Link to story: https://okcthunderwire.usatoday.com/2022/09/23/thunder-gm-sam-presti-comments-on-new-potential-arena-and-concerns-of-it-being-publicly-funded/

[Laramie]

  Youtube:  https://www.youtube.com/watch?v=PConR_sbigk

                  https://www.youtube.com/watch?v=c-2-AVQJ__c

[Laramie]

                         



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/

[Laramie]

  
                              

                              

     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.

      Zach Bryan - Oklahoma City  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.

Proposed $2 billion Los Angeles Clippers Intuit Dome, Inglewood, CA



Proposed Philadelphia 76ers $1.3 Billion Arena

[Laramie]

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.




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.

A new Oklahoma City Downtown Arena could cost $500-$600 million on city-owned land; would involve demolition of Prairie Surf Media Studios.

[Laramie]

                   

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.



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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[Laramie]

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                                                  Beyond Paycom Center, NBA in OKC

              

                    

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

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[Laramie]

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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,”

                         

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.

                         

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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[Laramie]

    
   

     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.”

     .





  

    

[heironymouspasparagus]

                         



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/

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.



 

[Red Arrow]

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.

[heironymouspasparagus]

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!

[Red Arrow]

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.

[heironymouspasparagus]

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.








 

[Red Arrow]

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