(Last Updated On: December 29, 2018)

This is a big win for the City of Oakland and the County of Alameda, and a huge loss for the Golden State Warriors. The Warriors were also nasty about this and to the City and the County. All that goes away, now. It also paves the way for the lawsuit pitting the Oakland Raiders and the NFL against the City of Oakland.

Oakland, CA – Today, a San Francisco-based arbitrator ruled that the Golden State Warriors must fully complete payments on a $100 million-dollar, 30-year bond for renovation at Oracle Arena. The outstanding balance of which, paid at $7.5 Million annually, will equal approximately $40 million when the Warriors move to San Francisco.

“We are pleased by today’s ruling and believe that it’s the Warriors, not the Oakland and Alameda County taxpayers who should repay this debt,” said Oakland Alameda County Coliseum Authority Chair and Alameda County Supervisor Nate Miley. “We issued these bonds in 1996 in collaboration with the team and with an agreement in place. We’ve simply asked the Warriors to honor their agreement,” he added.

In 1996, the Warriors signed a 20-year lease to play at Oracle Arena with the Oakland Alameda County Coliseum Authority. The Warriors extended that lease in 2016. The Warriors have argued that their lease obligations end when they terminate their lease for the 2019-20 season.

After extensive discussion, the parties remained at odds and thus binding arbitration was accepted by both parties. The arbitrator ruled today against the Warriors.

Coliseum Executive Director Scott McKibben said, “The terms of the lease were clear in our eyes. The Warriors committed to pay this debt. This money was spent to make specific renovations to meet the Warriors’ needs. We simply wanted them to honor the agreement, regardless of where they will be playing their home games in the future.”

Oakland City Council President and Coliseum Authority Vice-Chair Larry Reid added, “We all love the Warriors and appreciate their success on the court. However, the taxpayers of our community should not be on the hook for debt incurred and renovations completed at the Warriors request. I’m proud that we have stood firm and that the arbitrator has properly placed this obligation where it belongs.”

Golden State Warriors spokesman Raymond Ridder said the team would issue a statement later Monday.


By Zennie Abraham

Zennie Abraham is Zennie62Media, Inc. CEO AKA Zenophon Abraham Zennie62 YouTube Channel, Zennie62.com, Oakland CA News, Oakland, California, Oakland vlogger, Oakland News Now Today Blog – SF Bay Area Daily, WordPress user, full stack developer, online reputation management digital marketing expert, SEO, digital media guy, economic development , personal online content , management reputation services, east bay democratic club follower, super car stats dude, CES Las Vegas, tech news blog, OaklandNewsOnline.com, OaklandNewsNow.com, OaklandNewsToday.com, Oakland Post, Oaklandpostonline.com, Oakland restaurant foodie fan, Oakland Mayor's Office - Oakland City Council veteran, NBA Blogger, NFL Blogger, Pro Sports Blogger,, Super Bowl Bid Expert, Skyline High School Oakland grad, Texas-Arlington Alum, UC Berkeley DCRP Alum, Cal Alumni Board of Directors Alum, Oakland Raiders, The Athletic, Sports Illustrated, Leigh Steinberg Super Bowl Party, New York 21 Club, Las Vegas Raiders, Dallas Cowboys, NFL, NFL Draft Draftnik, Roger Goodell, Adam Silver NBA, media blogger, social media pioneer, college football news, coder, football strategy junkie, Oakland elections news, zenni, zenni glasses, optical, eyewear, Maria Ayerdi Kaplan, Salesforce Transit Center, Oakland Mayor Libby Schaaf, California Governor Gavin Newsom, Councilmember Noel Gallo, Sheng Thao, Rebecca Kaplan, Ben Bartlett Berkeley, Oakland City Attorney Barbara Parker, Treva Reid, Amy Cooper, Chris Cooper, Barack Obama, Darrell Williams, Chicago, International Terminal Solutions, Sanpete County Utah, John Siegel, Autumn Wind Lending, LLC, Flowsent, Oakland Bulk and Oversized Terminal, OBOT, Las Vegas visitor, YouTube Partner, friend of Mike Silver, Leslie Silver, Pass It Down podcast, Phil Tagami, Phil Gates, oakland harborside, Nancy Sidebotham, Henry Gardner, Davey D Cook, Ray Bobbitt, Bill Duffy, Robert Bobb, Alan Dones, Loop Capital, Shaun Tai BRIDGEGOOD, Robert G Schock, Barbara Schaaf, Marc Canter, Patricia Yerger Mom, Harrison Chestang, KPOO, Gary Schapiro, Zenophon Abraham Sr. Dad, Vloggerheads.com member, Vloggercon attendee, The Alley Cat Bar regular, Grand Lake Theater marquee fan, United Airlines flier, Walt Disney World lover, System Dynamics consultant, Eddie Van Halen, Run DMC, Rolling Stones, Old School Rap fan, Star Trek Trekker, movies buff, San Diego Comic Con Press regular, female bodybuilder fan, Wonder Woman, melissa benoist, Supergirl, Singer Associates, Spritz Marketing SF, Oakland and San Francisco Planning follower, Atlanta Georgia, Atlanta Falcons, Fayette County, Fayetteville observer, wish Tibor Lacey would stop Zenni.com playing with my name, Zennie62 YouTube Partner, Hollywood, Oakland California blogger / vlogger hire @Zennie62Media, Inc to tell your story.


Oakland News Now Today Blog – SF Bay Area Daily Recent Blog Posts

Do NOT follow this link or you will be banned from the site!