Cracks "are already surfacing" in the new $140M
Warriors arena deal, and "once again, it looks like
taxpayers will get stuck," according to Matier & Ross of the
S.F. CHRONICLE. The Warriors, who have been negotiating
with Oakland and Alameda County to take over the management
of the renovated Oakland Coliseum Arena, "have asked that
the deal be put on ice for at least a year" due to "fear of
a possible NBA players strike next season." East Bay
officials "are scrambling to find an outside firm to manage
both the arena" and the Oakland Coliseum stadium, and two
names "being mentioned for the job" are SMG and Ogden Ent.
Meanwhile, Joint Powers Authority officials overseeing the
arena "say they don't know if it's operating in the black,
and they've brought in an outside auditor to look at the
books." Matier & Ross also report that the Warriors "are
only guaranteeing to pick up" about $7.4M of the $11.4M in
annual costs from the new arena. The team says it "hopes to
cover" the remaining $4M from a 5% ticket surcharge and from
the sale of naming rights (S.F. CHRONICLE, 5/11).
