Warriors to Pay Estimated $40 Million in Oracle Arena Debt After Ruling

The Golden State Warriors are moving from Oracle Arena in Oakland to San Francisco following the 2018-19 campaign, but they will still have to pay the remaining debt for the stadium's renovations stemming from a 1996 lease agreement following an arbitrator's ruling. 

David DeBolt of the Mercury News reported the Warriors argued they no longer had to pay their debt for the renovations after they left, while those representing the city and county argued otherwise.

Arbitrator Rebecca Westerfield ruled Monday that the team has to pay the estimated $40 million remaining even after leaving Oakland for the other side of the bay.

Golden State has paid $7.5 million a year toward its accumulated debt with the $150 million renovation bill scheduled to be paid off over the course of 30 years.

"This was an after-the-fact attempt by the Warriors to rewrite the parties' deal, and it would have left the people of Oakland and Alameda County holding the bag," Daniel Purcell, a partner for the law firm that represented the city and county, said, per DeBolt. "We are grateful that the arbitrator saw it our way."

DeBolt noted Oracle Arena will still host concerts and events even though there won't be a long-term tenant once the Warriors move to the Chase Center.

Despite the disagreement, the Warriors have put on a show for the fans in Oakland by building a modern-day dynasty. They've reached the last four NBA Finals and won three, and the one season they didn't lift the Larry O'Brien Trophy during that span saw them win an NBA-record 73 regular-season games.

Klay Thompson told Nick Friedell of ESPN.com giving the fans in Oracle Arena one more championship after 47 years is a motivating factor in 2018-19. 

"We want to do it for the fans of Oakland," Thompson said. "Been so loyal to us for 40-plus years, whatever it's been since they've been in Oracle. So that definitely helps with this season. It's leaving a big legacy behind in Oakland because people might not get to see us as much in San Francisco. And just enjoying this every night."

Championship send-off or not, the Warriors will be on the hook for more money after they leave.