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SAN JOSE, OAKLAND WANT WARRIORS TO COME OUT AND PLAY
Published October 12, 1995
An Oakland official indicated "for the first time" Wednesday that the city and Alameda County "now are willing to commit significant public funds to keep the Warriors from moving to San Jose," according to this morning's SAN JOSE MERCURY NEWS. Ostrom & Akizuki report yesterday's assertion by Oakland City Councilman Ignacio De La Fuente the city and county may be willing to lend as much as $8M to help finance a new arena is "a sign" the team's search for a new home "may be turning into a municipal bidding war." Warriors officials met with San Jose city leaders yesterday to iron out details of a $43M publicly financed plan to lure the team to San Jose Arena next season. Although San Jose officials have said "they have no intention of getting into a bidding war," De La Fuente's statement "may turn up the heat." De La Fuente said the loan, which would be used for preliminary design and environmental work for a new facility, would be paid back from arena revenue. Oakland may not have to offer a public subsidy the size of San Jose's because the team would have "a significant advantage" in terms of controlling revenue in its own arena. Also, 45% of the team's season ticket base is in Alameda and Contra Costa Counties (in and near Oakland), compared with 24% of ticketholders in San Mateo and Santa Clara Counties (in and near San Jose) (SAN JOSE MERCURY NEWS, 10/12).