The Warriors had designs for a fancy new arena.
Now, they have somewhere to put it.
The Warriors on Monday took another step toward building a sports and entertainment complex in San Francisco, completing the purchase of the land for the proposed site in Mission Bay district of the city.
the team plans to open the new arena in time for the 2018-19 NBA season.
“The Warriors are making an unprecedented, $1 billion-plus investment in San Francisco,” said Rick Welts, President and COO of the Warriors. “We’re the only sports team in America doing this all with private funds, on private land, with no public subsidy.”
The secret is out: Billionaire owners of multi-billion-dollar sports franchises can afford to build their own stadiums.
Other NBA teams might not like Golden State bragging about its private funding. This might jeopardize their plans of receiving taxpayer funding.
But this is how it should be.
The Warriors stand to make a lot of money from this stadium. It’s only right they front the costs. Kudos to them for doing so rather than threatening to move.
And Kudos to San Franciscans, too. They refused to donate money to Golden State’s billionaire owners, and the team made it work. This should be a model for other cities.