IF IT DOESN'T RATE, YOU MUST RENOVATE! WARRIORS DEAL NEARS
The Warriors and Oakland Coliseum Board members are close to
a deal leading to a $100M reconstruction of the Oakland Coliseum
Arena. Officials hope to announce the agreement this week, which
would include the team signing a lease to play at the facility
for "at least 10 years and perhaps as long as 30 years." The
team will play next year at the Cow Palace in Daly City while the
Oakland Arena is gutted and rebuilt, with 19,500 seats along with
4,000 club seats and 70 luxury boxes. The "reconstruction
project will be privately financed with the arena itself used as
collateral." Revenue from the rebuilt arena will pay for the
loans. PSLs will be sold to "less than 50 percent of the seats,"
with the team marketing and selling the PSLs (Dennis Akizuki, SAN
JOSE MERCURY NEWS, 2/21).