Golden State Warriors to require 30-year commitment for season tickets

The Sports Xchange

8 years ago

Golden State Warriors’ Patrick McCaw is reflected in the Larry O’Brien Trophy in Mendenhall Center at UNLV in Las Vegas on Friday, July 14, 2017. Chase Stevens Las Vegas Review-Journal @csstevensphoto

Golden State Warriors’ Dylan Ennis (31) drives against the Los Angeles Clippers during a basketball game at the NBA Summer League at the Thomas & Mack Center in Las Vegas on Friday, July 14, 2017. Chase Stevens Las Vegas Review-Journal @csstevensphoto

Los Angeles Clippers’ Jawun Evans (1) drives to the basket against Golden State Warriors’ Damian Jones (15) during a basketball game at the NBA Summer League at the Thomas & Mack Center in Las Vegas on Friday, July 14, 2017. Chase Stevens Las Vegas Review-Journal @csstevensphoto

Golden State Warriors’ Damian Jones (15) blocks a shot from Los Angeles Clippers’ Isaiah Hicks (37) during a basketball game at the NBA Summer League at the Thomas & Mack Center in Las Vegas on Friday, July 14, 2017. Chase Stevens Las Vegas Review-Journal @csstevensphoto

Golden State Warriors’ Tai Webster (19) and Damian Jones, lower right, defend as Los Angeles Clippers’ Isaiah Hicks (37) goes to the basket during a basketball game at the NBA Summer League at the Thomas & Mack Center in Las Vegas on Friday, July 14, 2017. Chase Stevens Las Vegas Review-Journal @csstevensphoto

Golden State Warriors’ Patrick McCaw, wearing black, reacts with the bench after a three-pointer from Golden State Warriors’ Dylan Ennis during a basketball game against the Los Angeles Clippers at the NBA Summer League at the Thomas & Mack Center in Las Vegas on Friday, July 14, 2017. Chase Stevens Las Vegas Review-Journal @csstevensphoto

Golden State Warriors’ Dylan Ennis (31) sends up a shot as Los Angeles Clippers’ Shevon Thompson (29) defends during a basketball game at the NBA Summer League at the Thomas & Mack Center in Las Vegas on Friday, July 14, 2017. Chase Stevens Las Vegas Review-Journal @csstevensphoto

Golden State Warriors’ Dylan Ennis (31) drives against Los Angeles Clippers’ Luke Nelson (19) during a basketball game at the NBA Summer League at the Thomas & Mack Center in Las Vegas on Friday, July 14, 2017. Chase Stevens Las Vegas Review-Journal @csstevensphoto

Golden State Warriors’ Tai Webster (19) drives against Los Angeles Clippers’ Kendall Marshall (17) during a basketball game at the NBA Summer League at the Thomas & Mack Center in Las Vegas on Friday, July 14, 2017. Chase Stevens Las Vegas Review-Journal @csstevensphoto

Golden State Warriors’ Joe Rahon (7) drives against the Los Angeles Clippers during a basketball game at the NBA Summer League at the Thomas & Mack Center in Las Vegas on Friday, July 14, 2017. Chase Stevens Las Vegas Review-Journal @csstevensphoto

Golden State Warriors’ Dylan Ennis (31) shoots over Los Angeles Clippers’ Jamil Wilson (27) during a basketball game at the NBA Summer League at the Thomas & Mack Center in Las Vegas on Friday, July 14, 2017. Chase Stevens Las Vegas Review-Journal @csstevensphoto

The Golden State Warriors are bringing the personal seat license to the NBA, and the fans interested in purchasing them will be asked for a 30-year commitment.

While pricing of the licenses has not been revealed, ESPN cited a team official as saying that the number of seats dedicated for season-ticket holders will decrease from 14,500 at Oracle Arena in Oakland to approximately 12,000 at Chase Center in San Francisco.

The privately financed $1 billion Chase Center is scheduled to open in 2019.

Half of the tickets will come with a per-seat cost of $15,000 or less, while the other half will cost more than that, according to ESPN.

The Warriors, in turn, will return the money paid for the right to purchase tickets after 30 years, thereby creating a personal seat license. The “membership” serves as an interest-free, tax-free loan to the team for three decades.

Fans can transfer or opt out of the license prior to 30 years, but they will not receive their money back until Year 30.

The Toronto Raptors also offer personal seat licenses, although those are for their best seats and also include rights for Maple Leafs tickets as well.