The Golden State Warriors new arena that is currently in the progress of being built is already starting to set revenue records even though they are yet to even open the stadium.
The reigning NBA champions have already brought in an incredible $2 billion through tickets, suites and sponsorships. According to Warriors President Rick Welts, the franchise doubled the estimated amount for the privately financed stadium.
“The perfect market, perfect time -- the Bay Area is on fire,” Welts said on the Bloomberg Business of Sports podcast. “Couldn’t be a better economic time. Couldn’t be a better basketball team.”
Welts has also come out to say that the project is 30 percent over the predicted budget, it’s expected that it will cost $1.3 billion. The new arena is scheduled to open later this year on September 6th, meaning that it will be ready for the Warriors opening match of the 2019/2020 season against LeBron James and the Los Angeles Lakers.
Sponsors that will have their name on and inside the 18,064 seat arena include JPMorgan Chase & Co, United Airlines, PepsiCo, Accenture and Google Cloud.
“The corporate sponsorship side has found a real sweet spot with what’s going on in our industry right now, and the companies are looking to invest in sports,” Welts said.
The Golden State Warriors will be aiming for their third championship in a row this post season in their last stretch of games at their current home court, Oracle Arena.