After the end of the season, the Golden State Warriors are going to hang up the banner of their championship in the new rafters and soon after this is done, they have made plans to move from the Oracle Arena in Oakland to San Francisco. Nevertheless, in spite of the change of the scenario, an arbitrator has come up with a plan, so they are still going to pay for the debt that they have racked up on the renovation of the Oracle Arena.
David DeBolt from The Mercury News has reported that the organisation has thought that they can avoid paying the debt after they leave the arena that was previously contested by the county and the city. Rebecca Westerfield, the arbitrator sided with the authority of Oakland on Monday and stated that the team still has to pay up $40 million that they have owed even after the team moves away. The Warriors have already played $7.5 million every year, and they have to complete the rest of the money from $150 million over three decades. The Warriors have to honour now the agreement that they have come up with in the first place rather than dumping off the obligation to the county’s taxpayers.
A partner law firm which represented the city said that this move from the Warrior was an after the fact attempt to rewrite the deal of the parties and this might have led to the people of Alema County and Oakland to be holding their bags. The city officials said that they want to thank the arbitrator who helped them get out of this scenario.
After the Warrior leaves the Oracle Arena, the arena is not going to have, but according to DeBolt, they are still going to use the arena for hosting events and concerts.
