The Warriors' new arena, which is set to open before the 2019-20 season, will be called the Chase Center.
The company confirmed the news on Thursday with a video posted on their Twitter account:
J.K. Dineen of the San Francisco Chronicle noted that official financial details of Golden State's deal with JPMorgan Chase for naming rights were not available, but one expert speculated it could be greater than "the $200 million that Barclays paid to put its name on the home of New York’s Brooklyn Nets." On Thursday, Warriors owner Joe Jacob announced that the deal was for 20 years.
Warriors president Rick Welts told Dineen that securing a naming-rights deal years before the arena opened was a priority for the franchise.
“To do this now was incredibly important to financing the project, an absolute cornerstone,” Welts said. “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.”
In October, according to NBA.com, the Warriors announced that they purchased a 12-acre site of land from Mission Bay on which they would construct an 18,000-plus-seat arena using private funds. The arena was originally scheduled to open before the 2018-19 season.
However, according to Dineen's report, a group known as Mission Bay Alliance was pursuing "two lawsuits against the arena development project," arguing "that the arena will have a negative impact on the UCSF [University of California, San Francisco] Medical Center at Mission Bay."
Welts told Dineen that getting a sponsor to invest in the arena already proves its "inevitability," and Golden State plans to have the Chase Center open in three years.
The Warriors can seemingly do no wrong at this point. They are coming off an NBA championship last season, are on a record-setting wins pace this season, have the league's reigning MVP and favorite to win it again in Stephen Curry and are getting closer to moving into their new arena.