Holt said the plans for the new arena and a new extended contract with the Thunder are "close" to being finalized and that the details will be revealed to the public by the end of the summer.
The Mayor also said that taxes would not be raised to fund the facility, implying the current MAPS 4 sales tax collection would be extended as it expires in 2028. There are also funds within MAPS 4 for the new arena and Holt said that Thunder ownership will make a "significant financial contribution".
Any public funding requires approval by voters and Holt indicated that ballot measure would happen before the end of this year.
Although specifics were not mentioned, the assumption is the new arena would be built on the site of the old Cox Center, currently used temporarily as a movie and TV studio by Prairie Surf. The City of Oklahoma City already owns that property.
It is also expected the total budget would be near $1 billion, as that is the average cost for new NBA arenas around the country.
Expect details to be revealed in August or September of this year.
