January 29, 2016
The Golden State Warriors, reigning NBA champions, will likely move to a billion dollar arena in the Mission Bay area of San Francisco in 2019. JP Morgan Chase has reportedly purchased the naming rights to the stadium, which will be called Chase Center.
The exact purchase price for the naming rights has not yet been disclosed, but sources believe it to be in the hundreds of millions of dollars. Although there are two lawsuits trying to prohibit its construction, backers feel confident that plans will move forward for the 18,000-seat arena.
Forbes recently valued the Warrior’s worth at $1.9 billion, which represents a greater than four-time increase over their valuation four years ago- a big thanks to team leader and current NBA MVP Stephen Curry.