Engineers working on a new downtown arena in Tulsa, Okla., say the $141 million project is $32 million over budget.
They’re blaming the rising costs of steel, concrete, glass and other construction materials plus the cost of electrical and plumbing work.
Officials say they’ll consider altering the design to save money or may re-advertise bids for the materials in hopes of getting lower ones.
A contingency fund of $10 million has been set up for overruns.
The Bank of Oklahoma is paying $11 million for naming rights to what will be the BOK Center, which will seat about 18,000.