Sonics outline proposed deal with OKC

Bryan Dean
Published: March 14, 2008

Oklahoma City officials unveiled details today of an agreement with Seattle SuperSonics owners to host the team at the Ford Center.


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The letter of intent will serve as the basis for a lease with the team.

If the team can't break its lease, it would still move to Oklahoma City, but not until 2010.

The Sonics would pay $1.6 million in annual rent at the Ford Center and $100,000 annual rent for a practice facility the city will build as part of a recent sales tax initiative. Voters approved a one-cent sales tax March 4 which will pay for the $20 million practice facility and about $101 million in improvements to the Ford Center.

The agreement also calls for the team to pay $409,000 annually for naming rights to the Ford Center, which is the same amount the city is set to receive from Ford absent any agreement with an NBA team.

The team would keep any revenues from naming rights above that amount.

Oklahoma City would keep revenues from other events at the Ford Center, including concerts, Big 12 or NCAA basketball tournaments and other events.

The agreement also allows the team to break the lease if attendance falls below certain benchmarks, provisions similar to NBA lease agreements in New Orleans and Charlotte.

City Manager Jim Couch said the agreement is a good deal for the city and fair to the team.

An NBA relocation committee is scheduled to visit Oklahoma City March 25 and NBA owners are set to vote next month on the Sonics' application to relocate to Oklahoma City.

The city hopes to have a full lease agreement in place before the owners vote.


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Roger...feel free to call it a "greatly enhanced" experience if you will, but even after all the improvements, you'll still have to squeeze yourself into a too small seat for a game, or a concert, or anything for that matter. The bottom line is that the Ford was not only built on the "cheap" but it was also built shoddily and without good planning or layout. Painting the walls and improving the bathrooms, and upgrading the scoreboard will NOT enhance the experience for anybody except the team owners who profit from Okies folly. Now if by chance you plan on buying one of the skyboxes then maybe you'll have an enhanced experience, otherwise, the "under 20 dollar" seats are going to be just as miserable as they are now....
paul, yukon - Mar 18, 2008 6:52 AM
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paul, yukon - Mar 17, 2008 3:08 PM
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I stand in amazement at the logic these Okies show. Here they jump up and down because of this lousy NBA fiasco, voting yes to increasing taxes for a longer period, and being in a blissful state of euphoria over the fact that this practice facility will yield nothing but debt load and a constand "in the red" on the books...watch as tax breaks are given to the potential occupants of the Ford center "so we can be a big league city"..and in nearly the same breath complain about a bond issue over the GM plant to Tinker AFB, something that contributes some 2 BILLION dollars to Oklahomas economy annually. Complain about something that provides REAL income to the state, and yet rave over something that will amount to nothing except for a few rich individuals....
paul, yukon - Mar 17, 2008 3:08 PM
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Hey Robert up in Seattle....do these people down here have a rude awakening coming or what? They thought they had no money to begin with, wait till the city's coffers are drained some by having to maintain this Ford Center, have to pay additional staffers to keep it cleaned and in top shape, and have to deal with all the requirements associated with a more full time arena....all to get a team here that will do nothing but line the pockets of a wealthy few, either team owners or in the bricktown area that either own businesses or have land/buildings up for sale...and lets not forget the practice facility that'll NEVER give one cent of return and always due to maintenance costs and upkeep, continue to take from the coffers and never give in return. Oh, what a deal !! I'm so glad the progressive thinkers of OKC are on the move....can't wait till all these new businesses (call centers and fast food joints) bring a boom to the OKC economy...maybe if we get lucky we can get a couple players that emulate Kobe Bryant as well, sort of round out the package deal and make them more closely associated with the Sooners of OU....yee-hah!!
paul, yukon - Mar 17, 2008 10:41 AM
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Stop whinning . . . Welcome to the NBA and your local owners.
Robert, Seattle - Mar 17, 2008 9:20 AM
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Larry....shhhhhhhhh! You aren't supposed to question how having the Ford booked for those 41 nights per year is going to increase different venues coming in..you just have to be one of the sheep and follow....just pay your money and don't ask any questions....and the last I remember seeing, the practice facility was an exclusive use facility ONLY, not something to be shared like a school gymnasium...the smoke and mirrors are and were out there....
paul, yukon - Mar 17, 2008 4:48 AM
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if someone could please explain how having an NBA team brings in other events into the Ford? Seems like it would have the opposite effect...at least there will be 43 days less available on the calendar for the other events to choose from.
Larry, Oklahoma City - Mar 16, 2008 11:47 PM
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The other revenue the City does end up getting to keep from other events is the "gravy" if you will.
Larry, Oklahoma City - Mar 16, 2008 11:43 PM
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Jill wrote: "Who said the Sonics were supposed to pay us back for the arena?" Well, since the Ford was originally designed and built to get a professional team (NHL or NBA) and the improvements were designed to "lure" an NBA team and one of the earliest reports stated the cost of luring an NBA team to relocate would be about $100 million (the same cost of the improvements). Coupled with the fact if they opt out of the lease, they will be contractually bound to repay the City the cost of the improvements and the practice facility. I would say it is entirely reasonable for them to pay at least half of the cost (not this sweetheart deal they are getting where it will take nearly 200 years to pay off the arena improvements (not counting the original $90 million already spent). Not counting the $4 million a year the City is losing and giving to the team in the naming rights alone.
Larry, Oklahoma City - Mar 16, 2008 11:40 PM
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Will be the first to admit, VERY shocked they didn't get the "Master Tenant Lease" that was foreshadowed in earlier statements by Bennett and even this paper admitted they would probably get (the day after the vote). Also, VERY surprised that the terms of the lease have been made public.
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"Oklahoma City would keep revenues from other events at the Ford Center, including concerts, Big 12, or NCAA basketball tournaments and other events." And it looks like we are getting a fair deal on the Food and Beverage part of the agreement. At least they got these parts right...Congratulations!
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Lets see....$100,000 a year rent for an NBA EXCLUSIVE use building costing $21 million = 210 years to break even. You read that correctly, that's 210 YEARS to pay for the practice facility alone. Yep, sounds like its fair to the team all right, but is it a "good deal for the City"? What is the City Manager smoking?
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"The agreement also calls for the team to pay $409,000 annually for naming rights to the Ford Center"
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Memphis (a slightly smaller TV market) got $90 million for naming rights in a 20 yr. deal ($4.5 million a year) so the City is losing roughly $4 million a year on naming rights alone. Makes sense doesn't it? The Team gets the excess money from the naming rights to a building they don't own. The fact they don't own the building and are "just" tenants is very important (since it was used as an argument for them not paying for any of the improvements). Yep, sounds like its fair to the team all right, but is it a "good deal for the City"?
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"Arena rent: $40,000 per game ($28,000 per game for game day expenses plus $12,000 per game in additional rent). Inflation adjustments would be made beginning in year six of the agreement."
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AFTER GAME DAY EXPENSES the City only gets $12,000 per game times 43 games = $516, 000 a year divided into $100 million in NBA improvements = 193.8 YEARS (not accounting for inflation adjustments and the City does get to keep the revenue from other events). Yep, still sounds fair to the team.
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"That's an example of where we were trying to ensure that there was kind of a break-even philosophy on our behalf,” Mayor Mick Cornett said. "The most important thing to us is where we are at the end of the deal, and we think we'll be in a break-even position.” and
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"Oklahoma City Manager Jim Couch said the city expects to at least break even financially on the deal and could generate as much as $150,000 in additional revenue."
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Break even? How? Maybe break even in 200 years, but we could have paid for the improvements with the naming rights alone. Instead we are giving them away to the team at an annual LOSS of $4 million a year (not $150,000 in additional revenue)? Why aren't we looking to make something off the deal? The only way we are going to break even under this lease is if the Ford center lasts for another 200 years (highly unlikely) or the Sonics opt out after six years (if certain attendance benchmarks aren't met) where they have to pay for the improvements. Of course they will go to court to get out of that (just as they are in court in Seattle now).
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I admit math is not my strong suit, but did the calculations 5 times just to make sure I didn't mess it up (still a possibility though). Does ANYONE want to explain how this makes any financial sense (as the Mayor and City Manager are suggesting).
Larry, Oklahoma City - Mar 16, 2008 11:24 PM
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Jill wrote: "The practice facility will belong to the city and the Parks and Recreation Department will have the opportunity to use it during the off season." Where did you get this info from (I missed it somewhere along the way) as everything I have read, has said the NBA practice facility is for the EXCLUSIVE USE of the NBA, there won't be any other events held in it.
Larry, Oklahoma City - Mar 16, 2008 11:18 PM
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"I hope you yes voters are happy"...Pretty sure they are since their side won Paul........."I guess then that the 100 million is just dumped into something that will offer no real return then, is that what your saying??"...Greatly enhanced experience for millions of folks who will attend events at a state of the art arena over the years...That is a real return
ROGER, MOORE - Mar 16, 2008 2:37 PM
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Break even Michael? In the manner of yearly expenses versus paltry revenue? Nothing else? I guess then that the 100 million is just dumped into something that will offer no real return then, is that what your saying?? So then, the 200 year payback debacle is only under the optimum conditions and in theory could never be at a "break even" point, once you consider ALL expenses and not just the yearly maintenance ones...what an amazing deal, I hope you yes voters are happy. Perhaps when the state government taxes the state population for billions and offers a few bucks in return you have the same"yippee" attitude..after all, they're doing it for your sake and not for any ulterior motive....as far as hell is concerned, I've been to hell in the form of a place called Parris Island, perhaps you've heard of it....and that place is far better than here...
paul, yukon - Mar 16, 2008 11:23 AM
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if you read the articles and listened to the press conference paul you would see on the matter of the building it would be break even or positive revenue of 100k a year. Everyone knows the building is only the cornerstone and the it is tax revenue that is gained and from the influx of people staying in bricktown the added payroll from the team those are were we gain not use of the beautiful building we have all said that. OKC will not be in the red for the building, you call this foolish well the majority that voted yes didn't because we are looking forward unlike you can only think you live in hell. Well paul like I have said before you hell is going to get just a bit nicer.
Michael, Yukon - Mar 16, 2008 7:32 AM
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There is going to be no revenue from the Ford or from the practice facility..no matter how you try and spin this. The expense of renovating and building in the case of the practice facility wipes out the chance of any profit coming from the Ford. 74 years to break even on the 100 million to renovate the Ford? Almost sounds like getting a 50 year loan on a Hyundai to me. ANY revenue that comes back as a result of the "New, improved, we're gonna be a big league city" fiasco is far surpassed by the amount of money that has been spent, and the City will always be "in the red" on the balance sheets as a result.....no matter how they spin this foolish venture...
paul, yukon - Mar 16, 2008 5:29 AM
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Who said the Sonics were supposed to pay us back for the arena? Last time I looked, Tulsa and Kansas City built more expensive arenas using local funds and they don't have a team paying them a penny in either one. We built the Bricktown Ballpark and remodeled the Civic Center for millions, and I don't see anyone complaining about those. Again, the Ford Center belongs to the city, and we're still going to get revenues from other events as well as revenue from an NBA team. Since having an NBA team will increase the number of annual events, the city will make more money than they would if we didn't have an NBA team. The practice facility will belong to the city and the Parks and Recreation Department will have the opportunity to use it during the off season. In addition, we have the chance to host an NBA team, with all the intangible benefits. I thought upgrading the Ford Center was important, with or without an NBA team, and so any money we make over and above what we were making in the past is a good thing, to my way of thinking. And yes, Devon has assuredly been planning their new building since well before March. But, we have no way of knowing if the city being forward thinking enough to pass this tax proposal was the final piece of data that made the business comfortable with taking such a big financial step. It's all part of what Mick Cornett has been calling "momentum", and momentum begets more momentum.
Jill, Oklahoma City - Mar 16, 2008 1:55 AM
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This Devon building has been in the works and planning stages for probably a year or more, more than likely at least 2 years to get to this point...
paul, yukon - Mar 15, 2008 7:28 PM
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I see Michael..Devon managed to get artists conceptuals, make all these plans and all this analysis in a span of less than 2 weeks ! Amazing! Who are you trying to kid anyway?? Are you really listening to yourself? MAYBE these plans were in place for Houston and now that OKC "might" get a team made them change their entire strategy?? Are you (or anybody else on here) really believing that??
paul, yukon - Mar 15, 2008 7:27 PM
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Here our city fathers go again, bragging on whats to come if the Sonics relocate to OKC. Yeah right! If the truth is to ever be known, a handful Oklahomans stand to become even more wealthier than they already are. Not wanting to falsely accuse any one individual for his/her eagerness to work so hard to convince a NBA Team to Head to the Heartland I want. However just like the development going on in and around Bricktown a few have become quite wealthy. Several of the eager good old boys who dreamed up Bricktown and bought property there when the price was cheap are the same ones digging the foundation for another project which will linger for years unsuccessful just like Bricktown. How many business owners have come and gone..how many business opened then closed in Bricktown in the past 3 years...many! Why? Its because Bricktown isn't San Antonio's Riverwalk, it won't be and it can never be....to many good old boys simply like sticking it to the city's Taxpayers, so the Taxpayers can pay for and build stadiums on land that these eager land beavers bought up years ago. Have you ever asked yourself if the Bass Pro Shop has delivered what was expected from them when we the Taxpayers paid for their Bricktown location. Have you ever asked yourself why are so many storefronts along the canal sitting vacant and why all you see Monday through Thursday night in Bricktown are a handful of Diners,Overworked Horses,more OCPD Officers than shoppers...its because it was poorly planned but carefully orchestrated to make the Creators a whole lot of money while being sold to the taxpayers as just another GREAT OPPORTUNITY for the City. Here comes the Sonics...and of course Clay Bennett!
Michael, Oklahoma City - Mar 15, 2008 6:24 PM
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"Is anybody on here really stupid enough to believe that Devon only decided to build this new "Icon" *snort* after the vote a couple weeks ago?? Madness..."...Surely not the only reason but I'm sure it definitely helped...Nichols is very concerned about all the vacancies it will create downtown so having a major league team housed there makes him feel more comfortable about his decision
ROGER, MOORE - Mar 15, 2008 6:17 PM
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See paul it is about commitment. Why spend 350 to 500 million on a new building if a city can not even commit to supporting a pro team. They could have just packed up and moved to Houston like everyone thought they would but no they see that OKC is going to commit to the future and growth and that is why they committed to this building just like you will see others in the future here in OKC once Chore 2 Shore is begun. Paul I know you don't understand how we do things here in OKC and you fully believe you are in hell, well your hell will be just a bit nicer and maybe you will find sometime to begin to realize it is not such a bad place.
Michael, Yukon - Mar 15, 2008 6:02 PM
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Is anybody on here really stupid enough to believe that Devon only decided to build this new "Icon" *snort* after the vote a couple weeks ago?? Madness...
paul, yukon - Mar 15, 2008 5:34 PM
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You know that is the same argument that they have used when we did maps, map 4 kids and so forth. Maybe I choose to believe that that city I live in is taking the right step forward in doing this. Maybe I see that development is now directly spurred to the vote we did March 4th. See I know history and in the past 15 years we have strived for this moment doing things to change the direction of this city. To wash away the death and decay of our great city to return it to vibrance and life. Do you not think for one moment that nothing has any impact on the movement of this city. Maybe you should go an research this city and see the vision of our citizens that are willing to take a risk to boldly go were only 26 other cities have gone and play with the big leagues. Maybe I happen to see a bigger and brighter picture for the future. Seattle kept the team for 40 years and other city's for just as long there is always risk . You tell me don't believe the smoke and mirrors can you think that maybe for once there might not be the smoke and mirrors you want to see. It is about commitment, do we as a city believe we can support and maintain a team and we said yes. We said yes to progress and a belief that our city is finally here.
Michael, Yukon - Mar 15, 2008 3:24 PM
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Michael, you are obviously not a history major, because history shows that professional teams are very likely to be here today and gone tomorrow, or, at the very least, demand a new arena to keep up with the Jones' so to speak. So maybe 10 years from now the Sonics will pack up and leave two empty arenas behind. Dont get me wrong, I hope the NBA succeeds here. I think it will be good for the city. Just dont believe all the smoke and mirrors from the politicians. They give you a best case scenario seen through rose colored glasses. What if fans lose interest after a few years of losing? Sure, they were all over the Hornets because it was new and exciting and they had something to prove. I guess only time will tell. My only point is that the Sonics wanted to move here even without the arena changes. They couldnt wait to move here. So why, and why at the taxpayers expense, though not a great expense?
matt, Moore - Mar 15, 2008 12:39 PM
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I voted for the tax, because the City should keep parking & concession revenues, not the team; The City should also KEEP the building's naming rights, NOT the team !
Jim, Oklahoma City - Mar 15, 2008 9:43 AM
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Oh one more thing the sales tax rate didn't change in OKC, but the sales tax is still higher in Yukon, Bethany, El Reno, mustang, the village, nichols hills, and so forth. Btw it is cheaper to purchase in OKC than Weatherford, as they still have some of the highest sales taxes since I grew up there at 9%.
Michael, Yukon - Mar 15, 2008 9:29 AM
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I am so glad we have math majors. We all said the money will not be made by the building but in other areas that are tied in brining the economic impact. However you want to do the math we are paying cash no interest on bonds that would equate to triple the original cost. The Ford center lease would be for 15 years, which would give plenty of time for the payoff to happen with development. Look Devon is going to plop 350 to 500 million on a new icon of a building since we took the commitment of the NBA, that is saving 2000+ jobs from moving, increasing the value to the downtown market, letting other corporations that the city is poised for growth in all fronts and we are open for business. Core 2 shore the next major development that will happen once I-40 is relocated we will see the payoff of what we are setting the stage for today. I welcome the NBA and I voted yes because I believe in this city, I believe we are a major league city and we are up to the challenges.
Michael, Yukon - Mar 15, 2008 9:23 AM
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Has anyone else noticed the videos on this site about the Ford Center are sponsored by the Central Oklahoma Cadillac Dealers? It's just too funny. Can see it now, "the Arena was built and became the Ford Center (nothing wrong with that, Ford makes a fine automobile). But after the improvements, it will be the Cadillac of arenas." Genius marketing ploy if it turns out that way and Cadillac dealers get the naming rights.
Larry, Oklahoma City - Mar 15, 2008 7:02 AM
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Jill wrote: "Of course the fact that the team will have a payroll of over $80 million a year that will add to state income tax and property taxes doesn't count for anything." Yes, some of that money will be spent in OKC (and the City will get it's share of the sales tax). But will those property taxes be going to OKC or surrounding communities, like Edmond? State income taxes don't count because they go to the State, not the City.
Larry, Oklahoma City - Mar 15, 2008 6:51 AM
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Jose, where are you getting "on avarage the city should recieve about 7 million a year, JUST FROM THE TEAM." from, just curious...also is this BEFORE or AFTER expenses?
Larry, Oklahoma City - Mar 15, 2008 6:47 AM
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"Oklahoma City would keep revenues from other events at the Ford Center, including concerts, Big 12 or NCAA basketball tournaments and other events." At least they got this part right. Congratulations!
Larry, Oklahoma City - Mar 15, 2008 5:43 AM
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Memphis (a slightly smaller TV market) got $90 million for naming rights in a 20 yr deal ($4.5 million a year) so the City is losing roughly $4 million a year on naming rights alone. Makes sense doesn't it? The Team gets the excess money from the naming rights to a building they don't own. The fact they don't own the building and are "just" tenants is very important (since it was used as an argument for them not paying for any of the improvements). Yep, sounds like its fair to the team all right, but it's a "good deal for the City"?
Larry, Oklahoma City - Mar 15, 2008 5:41 AM
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Lets see....$100,000 a yr rent for an NBA EXCLUSIVE use building costing $21 million = 210 years to break even. Yep, sounds like its fair to the team alright, but it's a "good deal for the City"? What is the City Manager smoking?
Larry, Oklahoma City - Mar 15, 2008 5:18 AM
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Can you imagine that, 20 million a year for 20 years. That's $400 million just for the naming rights. Crazy. If Chesapeake Energy signings on for 15-20 year naming rights at around say 7.5 million, that's between 112.5-150 million.
Jose, Village - Mar 14, 2008 11:45 PM
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Lawerence, I'm just guesstimating the naming rights. the best naming rights deal currently belongs to the Nets when they move to their new arena will get 20 million a season for 20 season from Barclays, but that's in NYC. I'm guessing the OKC market will probably draw anywhere from 6-9 million a year, definitely no more than 10 million a year. That's why I really think that Chesapeake Energy will probably end up getting the naming rights.
Jose, Village - Mar 14, 2008 11:41 PM
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on avarage the city should recieve about 7 million a year, just from the team. that would pay for the arena renovations and practice facility in 17 years and three months. Just in time for a new arena.
Jose, Village - Mar 14, 2008 11:36 PM
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Jose, if that is true about the Sonics having to reimburse the city if they choose to relocate, I feel much better about it. However, the naming rights are grossly under priced, and at that price should be named the Oklahoma City Arena to promote ourselves - the reason most people voted to bring the NBA to town.
Lawerence, Oklahoma City - Mar 14, 2008 11:36 PM
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Of course the fact that the team will have a payroll of over $80 million a year that will add to state income tax and property taxes doesn't count for anything. I suspect that's significantly more than the Dell payroll. This isn't a master tenant clause like the doom and gloom people were predicting either. I for one can hardly wait to buy my season tickets if we get an NBA team.
Jill, Oklahoma City - Mar 14, 2008 11:34 PM
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I didn't vote for the increased tax because of these very issues. 100K / year rent for a 20 million dollar practice facility that is built only for their use? Naming rights same price as 5 years ago with no NBA team. What out has the city left? If the Sonics don't perform can we boot them out of OUR arena for more favorable events? I didn't hear any mention of hockey being played in the FORD center - will that be a thing of the past? 200 years to pay off the practice facility, but will actually take much longer if you figure interest and inflation!
Lawerence, Oklahoma City - Mar 14, 2008 11:31 PM
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Mick, the lease is for 6 years and starts after the Ford Center renovations are complete. And the only way the team can opt out after 6 years is by covering the expenses for the Ford Center renovations and building the practice facility.

Teams usually play a minimum of 43 games, 41 regular season and 2 pre-season games. Plus any playoff games. On top of that they are paying $4 per parking space for 1400 spaces, per game. The City also gets 65% of revenue from concession and $1 per game for every ticket over $10 (about 17,000 tickets). Every player from home and visiting team will also pay state taxes.
Jose, Village - Mar 14, 2008 11:31 PM
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I didn't vote for the increased tax because of these very issues. 100K / year rent for a 20 million dollar practice facility that is built only for their use? Naming rights same price as 5 years ago with no NBA team. What out has the city left? If the Sonics don't perform can we boot them out of OUR arena for more favorable events? I didn't hear any mention of hockey being played in the FORD center - will that be a thing of the past? 200 years to pay off the practice facility, but will actually take much longer if you figure interest and inflation!
Lawerence, Oklahoma City - Mar 14, 2008 11:31 PM
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Kirby, really you need to stop inhaling. If you learned your math in OKC schools, it is obvious there was much more of an immediate need to put that money into the school system. Instead of reaping the taxes off of the increased gross revenue and the income the ford center itself will generate over the next 20 years. I don't know how you get 200 years, last time I checked, 121 mil / 1.7 comes to somewhere in the neighborhood of 71 years. And as Jose has pointed out that doesn't include the revenue from parking, concessions, etc.
John, Oklahoma City - Mar 14, 2008 11:21 PM
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I know a man in Kotzebue Alaska who was a little boy when Post and Rogers flew through. He remembers going to the airstrip and seeing them and of his Father getting a ride from Post in the plane. As to the arena, $40,000 a game times 41 plus doesn't seem like much. Plus, if you read the lease the team can opt out after 4 years. Bennett claims in Seattle he only needs to pay off the balance of the lease to leave so in effect they could pull the team out anytime they want for a maximum payout to OKC of around 7 million. Or the cost of a used up point guard. How come he didn't put any of his own money into the Arena? Anyone here that thinks having an NBA team will increase their property values anymore than they would anyway better put that stuff away before the DEA finds you.
mickey, sumner - Mar 14, 2008 11:12 PM
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Screw? How is the city getting screwed? This is one of the better deals that cities usually get from the team. Alot of team get all-allllll the revenue from the arena for their events and concerts and events. Besides the money the team pays the city, the economic impact that the team will have on the city and downtown area will pay for this arena in 3 years. That's if you just count the NBA. Include the Big 12 tournament, NCAA regionals, and other events and this thing pays for itself in 1-2 years.
Jose, Village - Mar 14, 2008 11:06 PM
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Yea good thing these details didnt come out before the vote

TWO HUNDRED YEAR PAYBACK, PLEASE DONT SCREW ME ANYMORE MICK
Jonbonjovy, Oklahoma City - Mar 14, 2008 11:03 PM
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YEA two hundred year payback, thanks for screwing us MIck
Jonbonjovy, Oklahoma City - Mar 14, 2008 11:02 PM
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Yea good thing these details didnt come out before the vote

TWO HUNDRED YEAR PAYBACK, PLEASE DONT SCREW ME ANYMORE MICK
Jonbonjovy, Oklahoma City - Mar 14, 2008 11:01 PM
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well thomas, according to the new lease, the team will have to right to re-negotiate the naming rights to the arena. Ford will have 90 days to re-structure the contract and if they fail to do so the team can find a new sponsor. I'm thinking that the team will be looking for at least 6-8 million a year for the rights to name the arena. Not sure if Ford will put up that much, chances are the team will be playing in the Chesapeake Energy Center.
Jose, Village - Mar 14, 2008 10:46 PM
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OH Happy DAY! OH Happy DAY!

John, I'll be second in line for tickets!!! Wooooooooooooooot! I'm so excited .... OKC finally has a chance at becoming a great city!!
K, Edmond - Mar 14, 2008 10:45 PM
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That is unless you want to call it Chesapeake annex. LOL
Thomas, Oklahoma City - Mar 14, 2008 10:40 PM
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If you really do the math, I mean really do the math, the city will make at least 6 million a year off the team. That's just from what the team will pay for lease at the Ford Center and practice facility, parking spaces, concessions, ticket revenue sharing, oh and don't forget that if the team decides to leave OKC they have to pay for the cost of the Ford Center renovations and the practice facility.
Jose, Village - Mar 14, 2008 10:40 PM
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Mike you took the words right out of my mouth. Even a pistol to Will Roger's head wouldn't have stopped him. He and Post were very good friends. I think that the team if they come to OKC will keep it as the Ford Center.
Thomas, Oklahoma City - Mar 14, 2008 10:40 PM
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Will Rogers is the name of our airport. We have a smaller airport named Wiley Post, but he didn't kill Will Rogers. Are you insane, mister? Wiley Post was perhaps the foremost aviator of his day, and they were attempting a dangerous flight near the arctic circle in a small plane. They were adventurers, pioneers, and you couldn't have stopped Will Rogers from going on this trip short of a pistol to his head.
But what has our airport names have to do with our basketball? Unless we name the team something aviation-themed.
Mike, Oklahoma City - Mar 14, 2008 10:36 PM
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Only in Oklahoma , where they name an airport after the man that killed Will Rogers....gotta love it !
mister, bogata - Mar 14, 2008 9:49 PM
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John, Edmond, I'm 67 but I love basketball and my daughter has promised to finagle me tickets if we get the NBA here. I get so jealous hearing how my son-in- law goes to the Lakers games in L.A. Would I love to have our team play them.
judie, Oklahoma City - Mar 14, 2008 9:22 PM
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So at $40,000 a night, lets say it is only used 200 times a year, it's paid off in a little over 15 years. Just another way to look at it since the NBA team won't be owning it.
John, Oklahoma City - Mar 14, 2008 9:08 PM
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Well consider me rich then because I will be one of the first people in line for season tickets. Must suck to be the rest of you. I for one am going to enjoy some pro basketball. Hope you all can still afford your nascar tv package without that $150 in taxes you have to pay so I can enjoy the NBA.
John, Edmond - Mar 14, 2008 9:08 PM
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Gee! Higher property values versus a longer commute to work, more local traffic, thousands more homes being built, our kids schools already overloaded becoming even more overloaded, basic infrastructure falling apart long before it is ever fixed. All so the idiots who would pay any ticket price to watch a game can drink their beer and have a good time. Those who can't live without a professional team in town should have moved to Dallas or somewhere else. Thank goodness I won't be spending any tax money in Oklahoma City for the corporate welfare.
Terry, Yukon - Mar 14, 2008 8:43 PM
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I think it's a GREAT deal!!! 74 seasons to pay off the Ford center...and 200 years to pay off the practice facility. And some people are complaining that Seattle was still paying for an arena already torn down?? Pot calling kettle black I'd say....Now...anybosy care to guess how many "New" arenas will have to be built in OKC in that 74 year time span to keep the NBA happy? And the ones who cried "yes" and called us "negative" about wanting new growth for this city condemn US?? Pathetic......
paul, yukon - Mar 14, 2008 8:12 PM
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I'm not exactly a person known for rallying 'round the flag, and I don't know how many Oklahomans that have died in service to their country, and I don't know how many Oklahomans have made a name in show biz or sports away from Oklahoma, not to even mention the people that lived here before government policy gave their land away, but I'm pretty disgusted at the impression that Oklahoma is for sale to the highest bidder. There was even a retired general from Hominy that died a year or two ago that was the inspiration for characters in Tora!Tora!Tora and Pearl Harbor with nary a blip in the local news. Wouldn't it be of more honor and respect to name SOMETHING prominent in OKC for a native son or daughter other than for people that make a ton of money here and then move out of state?
Kevin, Oklahoma City - Mar 14, 2008 7:27 PM
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Let's call it the Gaylord Butt Kissing Center.
stinkerpants, Oklahoma City - Mar 14, 2008 6:49 PM
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I've mad a vow to stop reading comments in this site, I'm sick of so much negativity. It takes money to make money, if you would use your brain, every
Daniel, Norman - Mar 14, 2008 6:42 PM
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you are all idiots stop your whining and just suck it up it is doing you no good to whine and Matt, Moore the gm thing has nothing to do with you
John, del city - Mar 14, 2008 6:41 PM
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also the practice facility. 20million from the tax payers - 100thousand annually. let's see - that's 200 years to pay it off from rent. sounds like the owners of the basketball team are getting a hell of a deal at taxpayer expense. they should buy their own practice facility, or lease the Cox center right across the street...
Oh well - too late. we already voted, didn't we??
Joe, Oklahoma City - Mar 14, 2008 6:18 PM
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So for naming rights to the Ford Center, Bennett is wanting to pay less than half of what he got for selling the naming rights to the Bricktown Ballpark to Southwestern Bell? I guess with his lackeys in prominent positions in OKC, he'll probably get away with this, also.
Kevin, Oklahoma City - Mar 14, 2008 6:18 PM
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Either way his opinion doesn't matter since he doesn't live in the Metro. As far as surrendering the naming rights revenue above 409k that's a load of crap. Our city, our area, our naming rights, our revenue period. Bennet just wants to line his pockets without helping to pay for the upgrades he and his crony Cornett extorted from the city.
Kevin, Del City - Mar 14, 2008 6:00 PM
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Increased property values because of an NBA franchise? LOL You're hilarious, Kyle. Are you an out-of-work comedian in NYC?
Brer Rabbit, Briar Patch - Mar 14, 2008 5:31 PM
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Kyle, Increased property values also mean increased property tax, which they also want to raise to buy the GM building. I must admit that I am indifferent on the NBA, but I hate taxes, especially when they are used to upgrade an arena that they said was "a perfect NBA arena" when the Hornets came. Yet it is now inadequate. Also, the people they are building it for are ultra rich and they wanted to come here in the first place. Luckily, my opinion doesnt matter because I live in Cleveland county.
matt, Moore - Mar 14, 2008 5:02 PM
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Those of you that are still complaining about your taxes having to pay for this are so small-minded it's hilarious. Can I please come back in a few years and claim the increase in value your home and property will receive as a result of the NBA relocating to Oklahoma City. I will gladly trade you the couple hundred dollars you will be out for this tax extension for the several thousand that you will see in property values.
Kyle, New York - Mar 14, 2008 4:54 PM
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The City receives $409,000 annually from an association of Ford dealers in Oklahoma for the naming rights to an arena that doesn't have an NBA franchise. Even in this market, an NBA franchise would increase the value of the naming rights for the City, possible as high as $2 million a year. Why should the City give up the revenue above $409,000 to the team? The City is also going to be paying for the team's facility leases until the new ones are built, perhaps for as long as the next three years. Can you say corporate handout?
Brer Rabbit, Briar Patch - Mar 14, 2008 4:43 PM
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This would have been an excellent time to restore the naming rights to the city, rather than auctioning it off to the NBA team. The name then could be representative of the people who actually paid for the building, and its improvements - the citizens of Oklahoma City!
John, Yukon - Mar 14, 2008 4:40 PM
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$40,000 per game will pay off the $121 Million in just under 74 seasons. I get that the Ford Center will also have concerts and bring in revenue to downtown business, but most of that will come from the same taxpayers that are paying for it now. Not trying to be negative, I just think its interesting.
matt, Moore - Mar 14, 2008 4:17 PM
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Increased property values because of an NBA franchise? LOL You're hilarious, Kyle. Are you an out-of-work comedian in NYC?
Brer Rabbit, Briar Patch - Mar 14, 2008 5:31 PM
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