Dicks Sporting Goods is reportedly receiving as much as $900,000 for the construction of its potential store in Broken Arrow, OK, the retailer’s first store in the state.
The City Council of Broken Arrow last week reached an agreement to pay Dick's SG 1.5% of the store's yearly sales – up to $90,000 – within 90 days of the store's opening anniversary, according to the Broken Arrow Ledger. The city also would pay the store on each anniversary for 10 years but the net payments are capped at $900,000.
Dick's SG would construct and operate the store, located near the Target in town; but must reimburse the city for its incentives if the store fails to operate for at least 10 years, according to the agreement. Dick's has not yet agreed to the deal.
