National Basketball Association

Budget for Thunder arena upgrade clearing up

Published May. 26, 2010 2:45 a.m. ET

foxsports

An oversight board charged with keeping renovations of the Oklahoma City Thunder's arena under budget now has a clearer picture of a multimillion dollar shortfall in funding for the project.

Members of the city board were told Tuesday that the final budget for the renovations will be $112 million, or about $9 million less than anticipated when voters approved a one-penny sales tax intended to upgrade the arena and lure the Thunder away from Seattle.

The 15-month sales tax actually produced about $103.6 million in funds for the renovation, with the final check arriving last week. The city also can draw from an additional $8.4 million tax fund to cover part of the shortfall, but the board has been working for months to scale back the upgrades of the Ford Center and a new Thunder practice facility to keep from overspending.

``We want to deliver the quality we promised but I think we have to look at the money we've got here as an iron cap,'' said City Councilman Patrick Ryan, the board's chairman. ``There's no more money. Our source of funding has ended. I think we'd be on thin ground if we could even go back to the City Council and ask for additional money.''

Estimates now call for the city to spend about $91.7 million on the Ford Center upgrades instead of just under $100 million, and $14.4 million on the practice facility instead of $20 million.

The arena renovation will continue this summer with a series of minor updates to concession stands, restrooms, a green room and the offices of the arena's management company. Some of those projects could begin in the next 10 days.

Construction on a final phase that will feature a grand entrance will begin during next season and require the closure of the arena after the season is over. That phase, estimated to cost about $39 million, is scheduled for completion prior to the 2011-12 NBA season.

The practice facility is expected to be finished by Sept. 10.