In September, Oklahoma City officials announced plans to build a new home for the Thunder. The new arena would be built at a minimum cost of $900 million and would be primarily funded by an extension of the city's temporary one-cent sales tax. The owners of the Oklahoma City Thunder will contribute $50 million toward the arena. The city hopes to open the new arena in time for the 2028-2029 NBA season, if not sooner. City Manager Craig Freeman said the city will use a selection process to choose a bank and negotiate lending terms if the sales tax is approved by voters. The loan will likely be a line of credit, Freeman said, to allow the city to only borrow as much as is needed as the project proceeds. The vote, if approved by the OKC city council, would take place on December 12.
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