Oklahoma City voters have approved a 1% sales tax for six years to fund a new $900 million downtown arena for the NBA's Thunder. The Oklahoma State Election Board reported that 71% of the city's voters supported the plan. NBA Commissioner Adam Silver praised the vote, stating that it exemplifies the strong connection between the team, fans, and the community. The Thunder's ownership group will contribute $50 million towards the construction of the new arena, and an additional $70 million will come from a sales tax approved by voters in 2019 for upgrades to the existing Paycom arena. The deal also includes a commitment from the Thunder to stay in Oklahoma City until at least 2050.

The proposal received strong endorsements from Oklahoma City Mayor David Holt and officials from the Greater Oklahoma City Chamber of Commerce. They argued that keeping the Thunder is crucial for the city's growth and economic development. Mayor Holt stated that the vote demonstrates that Oklahoma City is a "Big League City" and will continue to be so. The sales tax will go into effect on April 1, 2028, once the current sales tax expires, maintaining the city's sales tax rate. While an exact location for the new arena has not been determined, it is expected to open in time for the 2029-2030 NBA season.

However, not everyone is in favor of the deal. The group Oklahoma Progress Now, which opposed the proposal, acknowledged that the outcome reflects the "democratic voice of Oklahoma City." Council members Nikki Nice and JoBeth Hamon also opposed the sales tax and the letter of intent with the Thunder owners. Hamon criticized the deal for being negotiated from a position of fear and scarcity, claiming that it disproportionately benefits the wealthy. A group of over 25 local economists also urged a “no” vote on the arena, arguing that it lacks price caps and will not have a significant impact on economic growth.

When the Thunder first arrived in Oklahoma City in 2008, civic pride swelled as the state welcomed its first major league sports franchise. Since then, the team has played in a modest arena by NBA standards. The Thunder's owners are now seeking a new arena, but critics argue that the proposed deal favors the wealthy owners over the average resident. Under the plan, the Thunder owners would contribute 5% of the construction cost, while the majority would be funded by taxpayers. Some residents believe that the deal places a heavy burden on citizens and disproportionately affects the poorest individuals. They argue that most arenas are now funded primarily by private investment or smaller public investments.

The Thunder's owners, who purchased the team for $325 million, are now valued at over $3 billion. Critics question why the owners, who have made billions, cannot afford to fund the arena themselves. Concerns have also been raised about the lack of price caps in the cost projection and the absence of ironclad guarantees that the team will remain in Oklahoma City even if the arena is built.

Despite these concerns, proponents of the new arena argue that having a major league sports franchise brings intangible benefits to the city. Oklahoma City Mayor David Holt believes that hosting a professional sports team commands respect and showcases the city's economic and corporate presence. He emphasized that the Thunder's impact on the city's overall renaissance cannot be understated. Since the team's arrival, the city has seen significant development, including the construction of a public park, a convention center, and increased retail, restaurant, and housing options downtown.

Economists who study the impact of arenas on cities, however, dispute the notion that they significantly contribute to economic growth. They argue that public subsidies for arenas and stadiums often outweigh any financial benefits. A group of Oklahoma-based economists and finance professors published a letter urging a “no” vote on the new arena, stating that it would not lead to meaningful economic growth and would divert public money from other needs. They also pointed out that recent arenas have been built without public funding, suggesting that alternative financing options should have been explored.

J.C. Bradbury, an economics professor, went as far as calling the Oklahoma City proposal the worst stadium deal he has ever seen negotiated from a public standpoint. He criticized the lack of price ceilings and expressed concern that the arena's cost could balloon well beyond $900 million.

Despite the opposition, Oklahoma City voters have made their decision, and construction of the new downtown arena is set to begin. The outcome reflects the democratic voice of the city, and it remains to be seen if the new arena will live up to the promises made by its supporters or face criticism from its detractors.