The NBA Champion Golden State Warriors announced today the team has formally acquired the 12-acre site of its future sports and entertainment complex in Mission Bay from Salesforce.
Terms of the deal were not announced.
The Warriors purchased an option on the private property in 2014, and have spent the past year and a half participating in a public planning process. Environmental review is expected to be completed this fall; the team plans to open the new arena in time for the 2018-19 NBA season.
“The Warriors are making an unprecedented, $1 billion-plus investment in San Francisco,” said Rick Welts, President and COO of the Warriors.