The Golden State Warriors are moving from Oracle Arena in the near future, and they have the name for new arena. The Warriors announced Wednesday that they reached a deal with banking giant JP Morgan Chase to name the new arena "Chase Center."
“To do this now was incredibly important to financing the project, an absolute cornerstone,” Warriors President Rick Welts said. “It won’t be the last deal we announce, but it will be the biggest and most important deal we’ll announce. It sets the right tone for the other discussions.”
The high-priced arena will move the team from Oracle Arena in Oakland to Mission Bay. The 18,000-seat arena is expected to open in time for the 2019 basketball season.
The original plan was for the arena to be ready for the 2018 season, but a lawsuit from the Mission Bay Alliance has caused a delay. Welts says the deal with Chase shows the "inevitability" of the arena being completed.
“We are just one lawsuit away from being able to put a shovel in the ground," Welts said.
Terms of the Warriors' agreement with Chase weren't released, but SFGate.com reports it's likely to exceed the $200 million the Brooklyn Nets received from Barclays.
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