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[Seattle Times] 15 years after moving Sonics, now it’s the Thunder asking for publicly funded arena (www.seattletimes.com)

submitted 1 year ago by Attention4Sale@alien.top to c/nba@nba.space

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[–] Keith_Jackson_Fumble@alien.top 1 points 1 year ago

From The Oklahoman:

Thunder ownership, led by chairman Clay Bennett, will contribute $50 million toward a new arena in downtown Oklahoma City that will cost a minimum of $900 million, pending passage of a plan Mayor David Holt announced Tuesday.

So, it terms everyone can understand, imagine building a $900,000 home, but only having to commit $50,000 of your own money (with taxpayers picking up the rest) that would guarantee the right to use the house for the next 25 years. You would still need to pay yearly rent but it would be a fraction of the costs associated with building. Let's say the Thunder end up paying $8 million in rent each season (somewhat realistic given the Sacramento Kings pay $6.5). Using the same example with relevant numbers, your rent would be $8,000 a year.