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Golden State Warriors contest $40 million in Oracle Arena debt
San Jose Mercury ^ | October 18, 2017 | David DeBolt

Posted on 10/18/2017 8:45:06 PM PDT by artichokegrower

Just as the Golden State Warriors set out to defend their NBA title, a legal defense is ramping up over how much the team will owe for improvements made to Oracle Arena once the franchise makes its planned move to San Francisco.

Lawyers for the Warriors, in an Oct. 6 letter to the American Arbitration Association, argue that the team has no obligation to pay any remaining debt once it leaves Oakland.

The arena’s operator, the Oakland-Alameda County Coliseum Authority (OACCA), contends the team must pay all the remaining debt — estimated to be about $40 million — regardless of where it plays.

(Excerpt) Read more at mercurynews.com ...


TOPICS: Culture/Society
KEYWORDS: deadbeats; nba; warriors
By contrast, the Oakland Raiders are not obligated to pay for the renovations to the Coliseum made to lure the team back in 1995. The Coliseum debt stands at $83 million.


The citizens of Oakland gave $40 million to the Warriors and $83 million to the Raiders. Wonder how these athletes can take a knee during the national anthem while at the same time kicking the Oaklanders in the butt. The black lives of Oakland only matter when it is the black citizens giving $123 million to prim a dona aesthetes and their owners

1 posted on 10/18/2017 8:45:06 PM PDT by artichokegrower
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To: artichokegrower

“This predicament is entirely of the OACCA’s own making, as it bargained for a 20-year term in the license agreement while issuing 30-year bonds.”


Interesting.


2 posted on 10/18/2017 8:50:21 PM PDT by sparklite2 (I'm less interested in the rights I have than the liberties I can take.)
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To: artichokegrower

The Coliseum is in Los Angeles.


3 posted on 10/18/2017 8:50:43 PM PDT by Diplomat
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To: Diplomat

The Oakland Coliseum is in Oakland

Oakland–Alameda County Coliseum

https://en.wikipedia.org/wiki/Oakland%E2%80%93Alameda_County_Coliseum


4 posted on 10/18/2017 8:52:59 PM PDT by artichokegrower
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To: artichokegrower

Does anyone actually watch the nba anymore?


5 posted on 10/18/2017 8:55:46 PM PDT by Professional
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To: Diplomat

actually it’s in Rome


6 posted on 10/18/2017 8:57:02 PM PDT by morphing libertarian (A proud member of the Ruthie Bader Afternoon Nap Club)
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To: Professional

I watched about 5 minutes last season.


7 posted on 10/18/2017 8:59:22 PM PDT by TexasGator (Z)
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To: artichokegrower

The Warrior players should take a knee until the owners pay Oakland.


8 posted on 10/18/2017 8:59:24 PM PDT by samadams2000 (Someone important make......The Call!)
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To: artichokegrower

Warriors ran up a bunch of debt and don’t want to pay the amount they owe? Is that what champions do? That’s irresponsible. That’s unpatriotic!


9 posted on 10/18/2017 9:01:31 PM PDT by conservative98
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To: artichokegrower

People are free to tax themselves heavily to create venues for highly paid entertainers who often loathe them and their values to ply their trade and get rich. They may very well be awfully dumb to do so and elect people who agree to such schemes, but it is their right. Just don’t require more sensible taxpayers to tax themselves to relieve the foolishly incurred debts.


10 posted on 10/18/2017 9:07:40 PM PDT by allendale (.)
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To: Professional

Wife of a good friend has a connection with the Indiana Pacers, and she can occasionally get seats next to the Pacers’ bench. Like, right on the floor next to the bench. I went once and it was pretty cool, but having done it once I’m good. The seats are actually obstructed view because the coach stood in front of us most of the time. I turned down the tickets last year. The product just isn’t that good.


11 posted on 10/18/2017 9:08:50 PM PDT by henkster (The View: A psychiatric group therapy session where the shrink has stepped out of the room.)
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To: artichokegrower

let the players pay the debt, annual salary for the team is

$100 million plus. For a stupid child’s game. Just ignorant.


12 posted on 10/18/2017 9:21:47 PM PDT by txnativegop (The political left, Mankinds intellectual hemlock)
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To: artichokegrower

we don’t have to pay if we leave, is the same mentality of college student councils who vote themselves all bunch of cool stuff costing thousands and thousands of dollars, and then let the subsequent student bodies pay the tab for stuff someone else wanted


13 posted on 10/18/2017 9:23:19 PM PDT by blueplum ( "...this moment is your moment: it belongs to you... " President Donald J. Trump, Jan 20, 2017)
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To: Diplomat
The Coliseum is in Los Angeles.

You mean that place with all the empty seats at Rams games? Yeah, the Oakland Coliseum is usually filled with some of the best fans in football, just as Oracle Arena has seen big crowds for the Warriors back at their dismal worst and now, when they might just be the most talented NBA team ever assembled. Oakland fans support their teams, good or bad.
14 posted on 10/18/2017 9:59:27 PM PDT by AnotherUnixGeek
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To: artichokegrower

I hope they get nailed for it.


15 posted on 10/18/2017 10:07:53 PM PDT by boycott
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To: artichokegrower

Actually, now that the NBA players are starting to ‘take knees’, it’s doubtful that Golden State would be able to pay off the debt, even if they tried.


16 posted on 10/19/2017 12:27:55 AM PDT by BobL
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