The Warriors have reached agreement with JP Morgan Chase to buy naming rights for their proposed arena in the Mission Bay district of San Francisco.
The arena, scheduled to open in 2019, will be called Chase Center.
The deal, first reported by the San Francisco Chronicle, was confirmed Wednesday by the Warriors.
Though negotiations with the financial institution have been finalized, the terms of the deal were not disclosed. Chip Bowers, chief marketing officer for the Warriors, told CSNBayArea.com that the negotiations were “a team effort.”
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The opening of the proposed arena, located a few blocks south of AT&T Park, was delayed a year, from 2018 to 2019, earlier this month.
Though all primary authorizations have been met with the City of San Francisco, the Warriors are facing opposition from the Mission Bay Alliance, which is following through on threats to litigate the issue on the grounds of traffic congestion and additional environmental grounds.
“To do this now was incredibly important to financing the project, an absolute cornerstone,” Warriors president Rick Welts told the newspaper. “It won’t be the last deal we announce, but it will be the biggest and most important deal we’ll announce. It sets the right tone for the other discussions.”