Paycom wants a shot at developing current arena site; Thunder holds first rights

Oklahoma City-based Paycom is eyeing the current Paycom Center site for potential development once the new downtown arena is built and the Thunder move out.

Q&A: What could be next for Oklahoma City’s new arena after naming rights become available 

In a statement provided to News 9, a spokesperson for the Oklahoma City-based HR and payroll tech company said Paycom reached out to Mayor David Holt and city officials to discuss future plans for the site.

“Our company has developed properties throughout the City and across the U.S., including our extensive corporate campus in Northwest Oklahoma City,” said a Paycom representative. “With the Paycom logo already displayed at the Center, it holds potential for various uses.”

Paycom will not retain naming rights for new OKC Thunder arena 

The Paycom representative said the company wants to be considered should the opportunity arise, referencing the site’s redevelopment potential under the Preferential Rights Agreement, a deal that currently gives the Thunder first rights.

Under that agreement, the Thunder organization has the exclusive right to purchase and redevelop the current Paycom Center property for up to five years after the new arena opens, expected in 2028. There is no restriction on what can be built on the site, and a Thunder spokesperson confirmed demolition of the existing arena would be part of their plans.

Oklahoma City Thunder could have opportunity to redevelop current site of Paycom Center 

“We’re excited at the opportunity to purchase and develop the current arena site,” a Thunder representative said when News 9 spoke with them in June. “It will enable the Thunder to provide the vision for a sustainable and vibrant concept to enhance the area and seamlessly complement the new Paycom Center.”

Other developers, such as Paycom, may submit proposals to the city; however, under the agreement, the Thunder has the ability to match any offer.

What remains unclear is whether city officials are seriously considering other proposals at this stage. 

According to a city official, emails from Paycom CEO Chad Richison to city council members were first obtained by The Oklahoman through a leak.

News 9 has requested the same records.

What We Know:

1. Paycom has expressed interest in developing the site where the current Paycom Center sits after the new arena is built.
2. The company reached out to the city and mayor to begin discussions about the site’s future.
3. A Paycom spokesperson said the company sees potential for the site and wants to be considered if redevelopment becomes an option.
4. Paycom referenced the Preferential Rights Agreement, which gives the Oklahoma City Thunder first rights to redevelop the site for up to five years after the new arena opens.
5. A Thunder spokesperson confirmed the team plans to pursue redevelopment, including demolishing the current arena.
6. Other developers could submit offers, but the Thunder would have the right to match any proposal.
7. A city official confirmed to News 9 that emails related to this issue were leaked to The Oklahoman.

What We’re Still Trying to Find Out:

1. The full content of the communications between Paycom and city officials.
2. Whether the city is seriously considering other proposals from developers beyond the Thunder.

More Previous Coverage:

Oklahoma City Council passes new Thunder arena agreements

New Paycom Center To Be Built By Flintco And Mortenson 

Timeline: Prairie Surf Studios demolition begins in April for new OKC Thunder arena 

Thunder lock in long-term future in Oklahoma City with new arena agreement 

Oklahoma City Council Approves Arena Development Plan In 7-2 Vote

Oklahoma City Seeks Partner For Billion-Dollar Arena Project