Notes obtained by OKCTalk show the intention to add $30 million to the original stadium budget of $41 million. $20 million would come from tax increment financing (TIF) and $10 million would be derived from funds generated by the Omni Hotel deal with the City.
The $71 million total budget would allow for several improvements from the base $41 million, such as increasing capacity from 8,000 to 10,000 and adding shade structures.
FC Energy, Oklahoma City’s professional soccer team, has suspended operations due to a lack of an adequate stadium. The Energy would be the primary tenant once the facility is completed.
The facility would also be suitable for professional and college soccer, high school football and soccer, concerts, and other events. Oklahoma City is believed to be the only top 50 city without access to a multi-purpose stadium suitable for such events.
The design of the stadium would allow for future expansion.
The location discussed in the meeting is the site of the old Producer’s Coop cotton seed mill, which was demolished several years ago. The larger plan for the 34-acre parcel would include surrounding housing, retail, and restaurants.
The new stadium is currently scheduled for a 2027 completion.
The project would be in addition to the new $1 billion arena which will likely be on the site of the old Cox Center. Located between the arena and the proposed stadium, the massive Boardwalk at Bricktown hopes to start work later this year.
