Venue Detail
Golden State Warriors
Revenues From Sports Venues Pro Facilities Report
February, 2012
Golden State Warriors
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1011 Broadway Oakland, CA 94607-4019 Phone: 510-986-2200 Fax: 510-986-2202 URL: www.nba.com/warriors Owner: Joseph Lacob and Peter Guber League: National Basketball Association, Western Conference, Pacific
Venue
Oracle Arena, 7000 Coliseum Way, Oakland, CA 94621-1917 Owner: City of Oakland Managed by: SMG Facility Management Built: 1966 Capacity: 19,200 Permanent concession stands: 14 Concessionaire: The Levy Restaurants Suite caterer: The Levy Restaurants Soft drink: Pepsi Cola Beer: Multiple
Naming rights
Sold to: Oracle Corp. Price: $30,000,000 Term: 10 years Expires: 2016
Ticket prices
Season tickets range from $645 to $19,350 Single tickets range from $15.00 to $500.00
Attendance
2009 average attendance: 16,942 2010 average attendance: 18,027 2011 average attendance: 18,692
Suites
Quantity: 72 Term: 3 to 8 years Price: $80,000 to $150,000 Seats: 16 to 16 Includes: Tickets, parking.
Club seats
Quantity: 3,900 Term: 1 to 1 years Price: $5,590 to $7,525 Includes: Tickets, parking, private restaurant, in-seat wait staff.
Financing
The $25 million arena was built as part of a city/county bond issue that also financed the Coliseum.
The Golden State Warriors have met with San Francisco Mayor Ed Lee and Giants CEO Larry Baer to discuss the feasibility of building a new, state-of-the-art arena near AT&T Park that would open before the 2017-18 season.
Warriors owners Joe Lacob and Peter Guber have talked about the need to replace Oracle Arena in Oakland since buying the basketball team in July 2010, but this is the first time they have publicly stated their intent to explore options in San Francisco. They have also had discussions with Oakland Mayor Jean Quan about building an arena at their current East Bay site.
Lee reached out to the Warriors and Giants to set up the meeting. The Warriors then contacted Quan and scheduled an advance meeting.
Lacob and team President and Chief Operating Officer Rick Welts met with Quan, informing her about the upcoming meeting with San Francisco's mayor. They also said they planned to start studying development options for a new arena, including in Oakland.
The Warriors brass met with Baer, Lee and Jennifer Matz, the city's top executive for economic development. Lee encouraged the Warriors and Giants to explore realistic sites on land south of AT&T Park.
In his dual roles as the Giants' chief operating officer and president of the China Basin Ballpark Corp., Baer was the driving force as San Francisco opened then-Pacific Bell Park to widespread acclaim in 2000.
The Warriors’ lease at Oracle Arena runs through the 2016-17 season. The arena, built in 1966, is the oldest in the NBA – two years the senior of New York's Madison Square Garden – but it was extensively renovated in the mid-1990s.
Lacob and Guber recently approved new flat-screen TVs in Oracle suites, and are hoping that a high-definition scoreboard can be added before the Christmas-night opener. They have also updated the sound system, installed four new LED scoreboards in the upper corners, renovated the locker rooms and added Wi-Fi throughout the arena.
San Jose was quick to add its interest in the Warriors. Mayor Chuck Reed invited the NBA team to “move to San Jose. We have room for them in HP Pavilion.”
Malcolm Bordelon, executive vice president of business operations for the San Jose Sharks, said the hockey team would “be happy to explore options” with the Warriors.
Bordelon said the owners of the two teams know each other well enough to “have had conversations.” But he said there have been no negotiations or a “formal type of approach” by the Warriors to move to San Jose. Still, Bordelon said, “it's certainly a topic that may pop up.”
In February 1996, the Golden State Warriors reached an agreement in principle with the Oakland Coliseum Board of Directors that will keep the team in the Coliseum Arena. The arena received a $121 million renovation in 1998, which provided 4,200 more seats (bringing the arena total to over 19,000), 72 luxury suites and 3,900 club seats on a private concourse level. Renovations included a retail store and a sports bar.
A state judge ruled against the team in 2001, saying it must pay a $17 million judgement assessed by an arbitrator in a 2000 ruling in the team's dispute with the Oakland-Alameda County Coliseum Authority. The team had been refusing to pay rent and ticket revenues since it moved into the renovated building in 1997.
The Authority agreed to a $140 million remodeling project in exchange for a 20-year lease from the team. The team claimed various problems with the agreement, including a player walk-out in 1998 resulting in cancellation of part of the season.
As for revenue division, the sports authority gets the first $7.428 million from the building, including luxury suite leases. After that, the money is divided according to a schedule. The team gets the first $3.6 million in signage sales, then must divide the revenue.
The arena offers party suites leasing for $1,600 to $4,000. (Basketball, Facilities, Financial, NBANBA, Professional Sports)