Warriors Have Made $2 Billion off Chase Center Tickets, More Before Arena Opens

Tim Daniels@TimDanielsBRFeatured ColumnistMarch 29, 2019

In this photo taken Jan. 24, 2018, Golden State Warriors President and COO Rick Welts looks over a model of Chase Center at the Chase Center Experience in San Francisco. Welts, who turned 65 in January and is the first openly gay NBA executive, can lean not only on the time with the Seattle SuperSonics but also his experience in the league office and with Phoenix to see what things work and don't work when it comes to operating a franchise, to building an arena. (AP Photo/Eric Risberg)
Eric Risberg/Associated Press

Golden State Warriors president Rick Welts said the Chase Center, the team's new arena set to replace Oracle Arena next season, has already generated $2 billion in revenue. 

On Thursday, Scott Soshnick and Eben Novy-Williams of Bloomberg provided comments Welts made on the Bloomberg Business of Sports podcast about the perfect storm of factors that have allowed the franchise to double their initial projection for immediate revenue.

"The perfect market, perfect time—the Bay Area is on fire," he said. "Couldn't be a better economic time. Couldn't be a better basketball team."

Welts noted the financial figure is based off tickets, suites and sponsorships linked to their new home in San Francisco.

The Chase Center is scheduled to open Sept. 6 with a concert headlined by legendary heavy metal band Metallica and the San Francisco Symphony. One month later, the Dubs will take the floor for the first time in a preseason game against LeBron James and the Los Angeles Lakers.

Although tickets for Warriors games and special events like the Metallica concert play a role in the $2 billion of revenue, Welts told Bloomberg sponsorship money has provided a massive boost.

"The corporate sponsorship side has found a real sweet spot with what's going on in our industry right now, and the companies are looking to invest in sports," he said.

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It'll help the Warriors hit the ground running after going 30 percent over budget on the privately funded arena, bringing the expected final cost to $1.3 billion, per Welts.

Barring a playoff surprise, there's also a strong chance Golden State will arrive at its new confines as the three-time defending NBA champion, which will only add to the hype.