The Warriors New Chase Center Arena Is Turning a Ridiculous Profit
The Golden State Warriors made major moves on and off the court this offseason. From losing the two players who won Finals MVPs in 2015 (Andre Iguodala), 2017, and 2018 (Kevin Durant) and entering the season with a depleted bench, the team looks a lot different than that which took the floor during the NBA Finals June. Stephen Curry’s hand injury isn’t helping matters, either. Perhaps the greatest change, however, has to do with the fact that the Warriors moved across the bay from Oakland into the heart of San Francisco.
The Chase Center has been anticipated for several years, but it is finally the new home of the Golden State Warriors. While the team may be in a transitional period, however, the Chase Center appears to be a profitable investment.
Welcome to the Chase Center
The Chase Center, according to Business Insider, was privately financed during an age where many cities are forced to split the bill with owners if they want to keep their sports team. However, in a city like San Francisco, where Silicon Valley’s richest call home, that money should prove to be well-spent. The arena, which broke ground in 2017, was built on four city blocks that were sold to them by Marc Benioff.
The arena seats 18,000 people and boasts a giant 10,000 square-foot screen that hovers over the court. Built for NBA, every seat is meant to have a clear eye-line with the court. There are food options everywhere, from barbecue to standard arena fare, and the luxury suites for the deep-pocketed investors boast bars, living rooms, tables, and a smorgasbord of fancy food items.
While Oracle Arena was a relic of an older time, the Chase Center has a modern look, with a white concourse that looks like something out of a science fiction movie. The outside boasts a giant screen, which will show game coverage to those on the outside and will soon boast a park that runs independently of the Warriors operations.
The Warriors’ profit margin is off the charts
According to Forbes (per NBC Sports), the Warriors could generate more revenue than any team in the United States not called the Dallas Cowboys. Businesses and fans alike are clamoring to get a piece of the pie, with the season ticket waiting list reportedly being more than double the size of the arena’s max capacity.
The move across the bay, according to Tim Kawakami of The Athletic, was built with the deep-pocketed billionaires of San Francisco and the international draw of the city in mind. Because of this, people are willing to pay top dollar to be a part of it, and while the team invested that much money in the building of the arena, it is estimated that the team will take in nearly $700 million in the first stages of the arena.
With a team heading off of five NBA Finals, too, the product on the floor was believed to be a primary draw, but a comedy of terrible occurrences has plagued the team as the arena opened.
The Warriors’ season so far isn’t as sparkling as the arena
Just a year ago, many probably pictured the Warriors opening up their expensive new arena with Kevin Durant, Steph Curry, Draymond Green, and Klay Thompson dominantly taking the floor. After Durant got injured in the Finals and left via free agency, Klay Thompson suffered a knee injury of his own during the series, and a broken hand on Steph Curry, however, things are looking grim for the time being.
The team was able to pick up All-Star point guard D’Angelo Russell, who has had a good debut, but the team has struggled to get much production off the bench, and even before Curry’s injured hand, the team was getting blown out more than it was winning. Still, there are bright spots. Eric Paschall has proven to be a welcome and unexpected addition to the team, leading the team to a win over the Portland Trailblazers.
The season could be a long one for the Warriors, however, and Chase Center may have to wait for the type of basketball that closed Oracle Arena.