JP Morgan Chase Buys Naming Rights To $1B Warriors Arena
The future home of the NBA champion Golden State Warriors will now officially be known as Chase Center.
The Warriors plan to start playing in the new 18,000-seat arena for the 2019-20 season, a year later than originally planned due to lawsuits intended to stop the development from moving forward. The financial details of the deal were not released when the name of the new center was announced, but the deal likely exceeds the $200M Barclays paid for naming rights for New York's Brooklyn Nets arena, according to SFGate.
The sponsorship is part of the commitment to build the arena and surrounding 580k SF of office and 100k SF of retail (a project estimated to top $1B) without any public subsidies, says Peter Guber, co-executive chairman for GSW Arena LLC.
JP Morgan chairman Jamie Dimon says Chase Center will be a great location for art, culture, sports and entertainment in the Bay Area. [SFG]