Warriors’ S.F. Arena Confirmed

San Francisco Mayor Edwin M. Lee announced May 22 that the NBA’s Golden State Warriors are planning to build a new arena at the area’s waterfront to be completed by the team’s 2017-18 season, putting an end to ongoing speculation.

Under the agreement, the city will provide the land and the Warriors will pay to repair Piers 30 and 32 at an estimated cost of $75 million to $100 million, according to NBA.com.

Warriors Co-Executive Chairman/CEO Joe Lacob said in a statement posted at the website the state-of-the-art venue, which will also host concerts and other events, will bring many benefits including new jobs to the area.

“We are pleased to be privately financing the arena – with no money from the City’s general fund and no new taxes – and look froward to providing an incredible entertainment experience for Bay Area fans,” Lacob said in a statement.

The announcement solidifies rumors that the Warriors will leave Oakland’s 19,200-capacity Oracle Arena, its home for more than 40 years.

Oakland city officials released a statement saying they haven’t given up on the NBA team.

“We are still in direct dialogue with the Warriors about the opportunity to build a new arena. We have always been aware that they are exploring all their options, including a San Francisco site. We continue to believe Coliseum City offers the best new home to the Warriors, Oakland A’s and Oakland Raiders.”