With NBA franchise values skyrocketing, we’ve seen a number of teams hit the market in the last several years. Longtime owners have cashed in as new billionaires take over.
Could the Thunder be next?
Berry Tramel of the Tulsa World wrote Wednesday that, according to a source close to Thunder chairman Clay Bennett, it is “quite likely that the Thunder’s partners will want to sell soon.”
When “soon” is, that much is unknown. But here’s what a Thunder sale could mean:
Pre-order our new book on Thunder’s run to NBA title
Who owns the Thunder?
Bennett is the face of a seven-member, all-Oklahoman ownership group known officially as Professional Basketball Club LLC. The other six members are Bill Cameron, Everett Dobson, Bob Howard, George Kaiser, Jeff Records and Jay Scaramucci.
The group led by Bennett purchased the Seattle SuperSonics in 2006 for $350 million. The franchise relocated from Seattle to Oklahoma City in 2008.
Bennett hired Sam Presti as the Sonics’ general manager in 2007. The duo has been together ever since.
What is the Thunder worth?
CNBC Sports valued the Thunder at $3.5 billion — a 900% increase from the $350 million Bennett’s ownership group paid for it almost 20 years ago.
The Thunder ranked 24th in value out of the NBA’s 30 teams, ahead of only the Pistons, Pacers, Hornets, Pelicans, Timberwolves and Grizzlies, according to CNBC Sports.
The Warriors were projected as the most valuable franchise at $9.4 billion followed by the Knicks ($7.5 billion) and Lakers ($7 billion).
Forbes, in their 2024 list, valued the Thunder slightly higher at $3.65 million. That placed the Thunder 21st in value out of the 30 teams, according to Forbes.
What have NBA teams sold for recently?
Last month, the Buss family sold the Lakers to Mark Walter for a $10 billion valuation — a record-high sale for a U.S. sports franchise.
In June, the NBA approved a $1.5 billion sale of the Timberwolves.
In March, the Celtics sold for a $6.1 billion valuation.
The Suns sold in February 2023 for a $4 billion valuation.
The Trail Blazers were put up for sale in May.
Would new ownership group keep team in Oklahoma City?
Almost certainly.
Last month, the Oklahoma City Council approved a 25-year lease agreement aimed at keeping the Thunder in Oklahoma City through 2053. That 25-year period is set to begin when the Thunder moves into a new arena in 2028.
In December 2023, Oklahoma City residents voted yes, in an overwhelming 71% to 29% split, to use taxpayer funds to build a $900 million arena — now projected at $1 billion. Bennett and the ownership group committed $50 million to the arena, about 5.5% of the initial bill.
The new arena will be built directly north of Paycom Center on the site that was formerly the Cox Convention Center and Prairie Surf Studios. Demolition of that site has already begun.
Under the new lease agreement, if the team leaves Oklahoma City in the first five years of moving into the new arena, the Thunder would be required to pay the city $1 billion. If the team leaves in the first six to 10 years of the new arena, the team would pay the city $850 million. That scale continues throughout the 25-year lease.
The new arena could prove essential in keeping the Thunder in Oklahoma City long term.
Joe Mussatto is a sports columnist for The Oklahoman. Have a story idea for Joe? Email him at jmussatto@oklahoman.com. Support Joe’s work and that of other Oklahoman journalists by purchasing a digital subscription today at subscribe.oklahoman.com.