Fully acknowledging they will be making considerable payments into the NBA’s Luxury Tax in the coming years, the Warriors are asking their fans to help.
The defending champions on Wednesday unveiled the Chase Center Membership Program, designed to generate revenue through those reserving season tickets ahead of the team’s move into the new San Francisco arena in 2019.
Members making a one-time payment for each seat receive what amounts to a Personal Seat License, except it’s fully refundable after 30 years. It is, in essence, a zero-interest loan to the franchise.
The cost of membership will vary, with roughly half costing $15,000 or less and the other half being more expensive.
The Warriors are the first NBA team to institute such a fee program, and the first American professional sports team to make the payment refundable.
Here are some of the bullet points regarding the memberships, per the Warriors:
Fully Refundable – Members will be repaid the amount of their membership investment in its entirety at the end of the 30-year term.
Installment Plan – Members will be able to pay their membership fee over time.
Price Certainty – At the time of purchase Chase Center Members will know their ticket cost for the last year at Oracle Arena in addition to the first five years at Chase Center.
Transferability – Members will have the right to transfer or sell their membership.
Access to other events – Members will have the opportunity to purchase tickets for publicly ticketed events hosted at Chase Center prior to the general public.
Third of the building not sold as season tickets – The Warriors will continue to make tickets accessible to as many fans as possible via partial plans, single-game tickets and group tickets.