Posted by: BayAreaComRE | March 29, 2010

Rumor: Golden State Warriors Eyeing a Move to San Francisco?

The storied Golden State Warrior’s recent announcement that they are for sale is sparking a lot of debate as to what the eventual sale could mean for the Bay Area. Rumors are circling that Larry Ellison of Oracle who payed $10 Million for the Arena naming rights has long had his eye on the franchise. Other potential suitors include a group controlled by NBA Hall of Famer Jerry West. According to a press relaease from a week ago, “The Warriors, currently majority-owned by Christopher Cohan, are a premier NBA franchise located in the San Francisco Bay Area, the fifth-largest market in the NBA. ”

Although rumors about the Warriors moving to San Francisco seem to pop-up on an annual basis, this version of the rumor could actually have legs according to San Francisco Chronicle columnist C.W. Nevius. “Any new ownership group would be foolish not to look at San Francisco. In the mid-’80s, then-Warriors President Dan Finnane commissioned a study to determine the financial effect of moving to the city. The result was a 30 percent increase in value and revenue. Today that number would only be higher. The sponsorship opportunities would be much better, the potential for selling premium tickets would be higher, and selling the naming rights to the new arena would be a cinch.” The stadium could also serve as a large concert venue as most major international performers tend to go to higher capacity Bay Area venues like Oracle Arena or HP Pavilion.

One major obstacle in the the process would be the existing lease the Warrior’s have with the Port Authority of Oakland, allegedly running through 2027. Nevius’ article explains that there’s an out clause in 2017; from our real estate expertise, most all leases can be terminated if the right price is paid. The other major obstacle involves site selection for the stadium which would people are speculating could easily become a part of the San Francisco Giants’ redevelopment plans of Seawall Lot 337 (find the full report here).

This would be  a major win for the City of San Francisco, and likewise a major loss for the City of Oakland. The existing project development for the Sea Wall Lot 337 is being spearheaded by the SF Giants and has backing from some major Real Estate players including Wilson Meany Sullivan, Kenwood Investments, The Cordish Companies, and storied financiers Stockbridge Capital and Farallon Capital Management. We are an objective publication promoting all things Bay Area, but a spark in new development, if done responsibly and in an aesthetically pleasing way, is never a bad thing in our minds. We’ll keep our readers up to date on the topic, in the meantime, enjoy some fancy Photoshop work below…

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Responses

  1. My dad played for the origonal Warriors when the team moved from Philly…Always thought San Fran was where they needed to be.

  2. With this rumor, and the pending move by the A’s, I’m amazed that the leaders of Oakland can’t generate the vision and public interest that SF, the Giants, and the Mission Bay developers have by creating a similar sports-centered theme in Oakland. Oakland is arguably more accessible to a larger geographic fan base, has better weather, less expensive land costs, and I would assume a much easier path for permitting and entitlements that San Francisco would have. This is very exciting for SF; and equally as puzzling for Oakland.

  3. We completely agree, hopefully Oakland is working on a retention plan…or maybe they’ll just wait it out and call the bluff? Either way the competition is creating a buzz. Already pretty hot on Twitter…https://twitter.com/#search?q=san%20francisco%20warriors

  4. Can’t wait until the new ownership into a beautiful new stadium in Mission Bay.

    Aside from traffic issues it would be a real selling point for landlords trying to lease up space in Mission Bay.

    Shorenstein, Alexandria, etc should be pushing hard.

  5. I’m no longer positive the place you are getting your information, but good topic. I needs to spend some time studying much more or understanding more. Thank you for wonderful information I was looking for this information for my mission.


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