San Francisco To Erect New NBA Arena
Photo Source: Warriors Team Store
June 12, 2012
Many basketball franchises have begun to keep up with the Jones' when it comes to the need for new NBA arenas and the Warriors are next on the list. By 2017, a new NBA arena will be erected on the scenic San Francisco waterfront in a neighborhood known as Piers 30-32. The constructions costs of the arena are expected to range anywhere from $450 to $500 million dollars. In addition to the expensive construction costs, the Warriors will be required to spend money on redeveloping the site before construction can even begin.
The Golden State Warriors have had a long run in Oakland dating back to 1966 but has always called the Bay Area home. Not since 1971 has the franchise played their home games in San Francisco which is only a stone's throw from the city of Oakland. It has been suggested the the majority of Warriors season ticket holders actually reside in the San Francisco area. Additionally, San Francisco will be able to offer more corporate sponsorship for the franchise than if the franchise were to remain in Oakland. That is indeed often the appeal of building a new NBA arena, attracting sponsors and profiting from the club and luxury seating options.
There has been little proof that the constructing new arenas provides economic benefits to a downtown area; often because of the debt looming over the city's taxpayers. But what usually follows the completion of new sports venues is new hotels, restaurants, shopping and office spaces. Oakland could use the supply of new jobs much more so than the neighboring city on the other side of the bridge. Whether or not the Oakland Athletics will be able to gain approval for a new ballpark has yet to be seen but it would be a shame if Oakland were to lose the Athletics as well.