Thunder will stay in Oklahoma City through at least 2050 after vote for new arena passes

The Thunder's lease was set to end in 2026

The Oklahoma City Thunder only exist as an NBA franchise because the team's previous city failed to give it a new arena. The city of Seattle couldn't agree with the Supersonics on funding for a new building, so they moved to Oklahoma City and became the Thunder. On Tuesday, the Thunder faced a distressingly similar situation when local voters needed to decide whether or not to approve a new arena for the team. Ultimately, they decided to do so, and the Thunder will now stay in Oklahoma City until at least 2050.

Oklahoma City will build a new, publicly owned arena for the Thunder to play in that is expected to cost at least $900 million. The Thunder will reportedly contribute $50 million, a relatively small sum compared to most other publicly-funded arenas, but the alternative was not palatable to the voters. The team's original lease was set to expire in 2026, and without a new arena, the city would have been at risk of losing its only professional sports franchise.

The funding will largely come from three sources, according to Forbes' Nick Crain. The majority will come from a one-cent sales tax increase over the next 72 months. Additionally, the city also had $70 million earmarked for improvements to the current arena, the Paycom Center. Finally, the Thunder themselves will contribute that $50 million.

In 2008, Oklahoma City landed a Thunder team oozing with promise after drafting Kevin Durant and Russell Westbrook in back-to-back seasons. Today, that group is perhaps even better. Now, Shai Gilgeous-Alexander, Chet Holmgren and Jalen Williams will be able to make their championship push in Oklahoma City.