Golden State Warriors and JP Morgan Chase Agree Naming Rights Deal for New Arena

National Basketball Association (NBA) champions the Golden State Warriors have signed a 20-year naming rights deal with JP Morgan Chase for their new arena.

The proposed arena in San Francisco’s Mission Bay neighborhood will be named The Chase Arena and is scheduled to open in 2019.

Financial details of the deal were not disclosed, health but is reported by the San Francisco Chronicle that it is worth hundreds of millions of dollars.

Despite construction work not starting on the new area, prostate the Warriors elected to strike a deal with a naming rights partner to help finance the $1 billion project.

“The Bay Area is a beacon for technology, innovation and education, and we expect that the Chase Center will become a beacon of great art, culture, sports and entertainment for this great community,” Chase CEO Jamie Dimon said in a statement.

The reigning NBA champions are pressing ahead with plans for the arena despite opposition in the form of two lawsuits, by a group of donors to UCSF against the arena development project.

The alliance argues that the arena will have a negative impact on the UCSF Medical Center in the Mission Bay neighborhood, which opened in November 2014.

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