Amid fireworks, music and dance performances, the Golden State Warriors opened the doors of their new San Francisco home, Chase Center, on Tuesday morning in Mission Bay.
During the ribbon-cutting ceremony, Mayor London Breed said she was happy to have the Warriors back in her city after nearly five decades playing across the bay.
“The future is here ... right now … in this ribbon-cutting today, of the world-class, championship-winning Golden State Warriors, who are gonna bring the championship to San Francisco,” Breed said.
The Warriors were tenants of the Oakland Coliseum Arena for the past 47 years, but with the new center, the team owns its venue and will collect all revenue from events held there.
The team privately financed the construction of the stadium, which broke ground in January 2017, and has already earned back its initial $1.4 billion investment — and then some — from ticket sales, suite partnerships and corporate sponsorships, according to Warriors President and COO Rick Welts.
Chase Center sits on 11 acres of waterfront real estate that will eventually include a 5.5-acre park, about 20 restaurants and retail spaces outside the arena, two office buildings and a 10,000-square-foot Warriors store. Chase Center spokespeople estimate that the entire complex will generate more than $14 million each year in new tax revenues for the city.