The Golden State Warriors chased their first NBA championship in 40 years last season. The defending NBA champions chased the best-ever start to a season record this year. The Warriors are currently chasing 73 wins and a back-to-back championship. So it’s only fitting that the new arena co-owners Joe Lacob and Peter Guber are planning in San Francisco will be called Chase Center.
The Warriors announced on Thursday morning that they have reached a 20-year naming rights agreement with JPMorgan Chase for the new state-of-the-art sports and entertainment center that will be built in the Mission Bay neighborhood. The Warriors will be the primary tenant for Chase Center, but it will also be home to more than 200 annual events. The 18,000-seat arena is scheduled to open in time for the 2019-20 NBA season.
“Today is a great day, not only for San Francisco, but for the entire Bay Area community,” Lacob said in a statement. “Chase Center will be the best sports, entertainment and convention destination in the world.”
“This partnership is a great example of our commitment to the Bay Area and how important this market is to us,” JPMorgan Chase Chairman and CEO Jamie Dimon said. “The Bay Area is a beacon for technology, innovation and education and we expect that Chase Center will become a beacon of great art, culture, sports and entertainment for this great community.”
While Chase Center is the centerpiece, the 11-acre development includes 580,000 square feet of office space, 100,000 square feet of retail space, a 35,000 square feet public plaza, 3.2 acres of public space and 950 parking spaces. The entire project will be privately financed.
“Of the top 25 most populous cities in the U.S., San Francisco is the only one that lacks an indoor arena of 12,000 seats or more,” Guber added. “Now, with Chase Center, the city will get the state-of-the-art venue it has long deserved – without any public subsidies.”
“Our partnership with JPMorgan Chase is key to getting this privately financed venue built,” Lacob said.
The Warriors announced their intent to move to San Francisco over three years ago. The original location for the project was at Pier 30-32 and was scheduled to open next year before setbacks forced Lacob and company to abandon those plans. Chase Center will be located at Third and 16th Streets, just a few blocks south from AT&T Park. The Warriors purchased the currently vacant lot from Salesforce last October.
All the regulatory hurdles for the Mission Bay project have been met. According to the San Francisco Chronicle, the Warriors are “just one lawsuit away from being able to put a shovel in the ground.”
Terms of the agreement were not disclosed.