Oklahoma City finalizes agreements to secure Thunder's long-term presence and new arena

The Oklahoma City Council convened on June 17, 2025, to discuss significant agreements related to the new arena for the Oklahoma City Thunder, marking a pivotal moment in the city’s long-term relationship with professional sports. The meeting highlighted the culmination of over two years of negotiations and community discussions, which began as the city recognized the need for improved infrastructure to support major league sports.

The council's agenda included a presentation on four key agreements: the use license agreement, preferential rights agreement, food and beverage agreement, and the facility management agreement. The use license agreement, often referred to as the lease, establishes a 25-year commitment from the Thunder to remain in Oklahoma City, with options for three additional three-year renewals, potentially extending the relationship to 40 years. This agreement also includes significant financial penalties for the team should they choose to relocate, with initial penalties set at $1 billion.

City officials emphasized the importance of these agreements in ensuring the Thunder's success in Oklahoma City. The agreements were framed as a response to the overwhelming voter support—71% approval—received in December 2023 for the new arena project, which is budgeted at a minimum of $900 million, with the Thunder contributing $50 million.

The preferential rights agreement grants the Thunder the exclusive right to purchase the existing arena property within five years of the new arena's opening, ensuring that the team has a stake in the future of the site. Additionally, the food and beverage agreement aims to enhance local vendor participation and includes provisions for a capital improvement fund specifically for food and beverage services.

The facility management agreement extends the current operational framework to the new arena, ensuring continuity in management and service standards. ASM, the current operator, will continue to manage the arena for the first five years after its opening.

Overall, the meeting underscored the city’s commitment to fostering a sustainable relationship with the Thunder, positioning Oklahoma City as a competitive player in the realm of professional sports. The council's proactive approach aims to solidify the Thunder's presence in the city for decades to come, with plans for the new arena to be completed by June 2028.