Oklahoma City voters approve sales tax for $900 million arena to keep NBA’s Thunder through 2050

Oklahoma City voters have approved a 1% sales tax for six years to help fund a new downtown arena for the NBA’s Thunder that is estimated to cost a minimum of $900 million. As a result of Tuesday’s “yes” vote by 71% of voters, the Thunder agree to stay in Oklahoma City through at least 2050. Under the deal, the Thunder’s ownership group will contribute $50 million toward construction of the new arena. The deal also calls for $70 million in funding from an existing sales tax approved by voters in 2019. The city agrees to spend at least $900 million to build the new arena. A location hasn’t yet been finalized.