Watch Thunder player entrance at Paycom Center before NBA title parade
Kenrich Kenrich has a triple Williams’ jersey. Isaiah Hartenstein is rocking a Nick Collison shirt. Chet Holmgren is in a full sweatsuit. SGA and Dort rocking their flags.
Oklahoma City’s NBA arena and the home of the Thunder basketball team will get a new name sooner than expected.
A new name is still a few years away, however. Until then, the arena will still bear the name of the Oklahoma City-based human resource software provider.
Here is what we know about the name change and when it will happen.
OKC’s Paycom Center arena sponsorship cut short
Paycom and the Thunder originally agreed to a 15-year naming rights contract, which would have Paycom’s branding on the arena until 2036.
Just four years into the deal, however, the team’s owners and Paycom announced their naming rights agreement would end early when the Thunder moves to a newly constructed arena in downtown Oklahoma City.
The new $1 billion arena in OKC is expected to open in 2028. That’s when Paycom Center will close and, likely, another corporate sponsor will be needed.
“With the citizens of Oklahoma City and the Thunder making significant investments in the new arena, Paycom is committed to allowing the team to seek a new long-term naming rights partner for the new arena,” said Jason Bodin, Paycom executive vice president of marketing and communications.
Paycom said it will still find ways to support the team, continuing a corporate partnership that has lasted since 2018.
Will Syring, vice president of corporate partnerships for the Oklahoma City Thunder, noted in a press release from the team that while Paycom enjoyed brand promotion during the recent playoffs and championship, the agreement started in less than ideal circumstances.
“Paycom is a leader not just in Oklahoma but globally, and we are grateful for their decision in 2021 to become the naming rights partner for our current arena,” Syring said. “Their support, especially during the pandemic, showcased their dedication to our team and the community.”
History of the Paycom Center in Oklahoma City
The arena now known as Paycom Center first opened in 2002 as the Ford Center.
At a construction cost of just $65 million, the arena was considered “bare bones” for a national sports team, although city leaders learned quite a bit about what was needed to lure a professional team after failed attempts to bring the National Hockey League to OKC.
The Oklahoma Ford Dealers was the first to secure naming rights as part of an $8.1 million agreement with the city, and held the spot from 2002 to 2010. Under the name of Ford Center, the arena served two years as home of the New Orleans Hornets after the devastation of Hurricane Katrina, which gave OKC its first taste of regular season professional basketball.
After the Ford contract expired, the building existed for a year as Oklahoma City Arena before Chesapeake Energy secured a 10-year contract that renamed it Chesapeake Energy Arena. That deal ended early as the company encountered financial turmoil and declared bankruptcy. Paycom took over naming rights in 2021 with a 15-year contract.
Paycom Center has hosted some of the largest indoor events in Oklahoma, including sporting events, concerts and religious gatherings. Along with the Thunder, the arena is also home to the Oklahoma Wildcatters, a Professional Bull Riders team.
OKC’s new arena will be ready by 2029
The new arena is being built as an NBA home and entertainment venue that is to meet or exceed the league’s specifications and requirements. It will be built before the 2029-2030 NBA season kicks off.
That means the OKC Thunder basketball organization will spend three more seasons in the Paycom Center. The team recently inked an agreement with the city to remain here for at least 25 years.
On Wednesday, July 16, OKC Mayor David Holt is scheduled to unveil conceptual designs for the new arena at his annual State of the City address.