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SBD/August 26, 2013/Facilities
Costs Rise For New Warriors Arena, Project Schedule Months Behind Targeted Opening
Published August 26, 2013
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TESTING, TESTING: SPORTSBUSINESS JOURNAL’s Don Muret notes the Warriors are “building 16 theater boxes at Oracle Arena to fill the need for a smaller suite product and test the market in anticipation" of their new S.F. arena. The Warriors are spending $3M for the retrofit, a project that “includes construction of a new VIP Club for 240 floor-seat holders.” The franchise is “adding a second row of 114 floor seats for the coming season priced at $750 a seat per game.” The work will “be done in time for next season.” The four-seat theater boxes “replace eight regular suites on the south side of the arena’s mezzanine level.” The team is “offering both one-year deals for $90,000 and the four-year ‘Bridge to San Francisco’ package, starting at $80,000 a year and escalating to $95,000 in the agreement’s final year.” About 10 NBA teams have "introduced theater and loge boxes over the past five years." Warriors President Rick Welts said that as of last week, "two weeks into the sales process, the Warriors had sold two theater boxes and had commitments for two more units." Muret notes the 3,000-square-foot VIP Club "provides a new space for floor-seat holders." Welts said that the franchise "plans to sell naming rights to the club" (SPORTSBUSINESS JOURNAL, 8/26 issue).