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As the Golden State Warriors prepare for their new arena in the fall of 2019, they have announced their new scheme for season-ticket buyers, and it will add an extra dent to fan's wallets. A one-time “membership” fee will be needed to paid first, which will allow someone to purchase tickets for a whole season, including the playoffs and Finals for the next 30 years.
In a piece made by Al Saracevic of the San Francisco Chronicle, the team is offering a refund at the end of the said term. The “membership” is also different from the “personal seat licenses” which the San Francisco Giants and 49ers used in the past to help pay for the construction of their new arenas.
Article Continues Below“The team is calling it a “membership” program, and it will require season-ticket buyers to pay a one-time fee that will enable them to buy their seats for 30 years. In a unique twist yet to be used in any pro sport, the Warriors promise to pay back that fee after 30 years.”
“Golden State’s ticket plan represents the latest evolution of a business trend that has deep roots here in the Bay Area, where Al Davis and the Raiders were pioneers in selling “personal seat licenses,” and where both the Giants and the 49ers used similar strategies to help finance their new stadiums. The twist the Warriors are stressing is that, unlike PSLs, which required a one-time cost allowing a customer to buy season tickets every year, this plan involves a refund at the end.”
A detailed explanation of how the new scheme works was also included in the report:
“If you want to own Warriors season tickets, you would pay a one-time fee for the right to purchase your seats every year for the next 30 years. You can do that in one lump sum, or finance the payments. That’s a big commitment, but the team says memberships will be transferable and can be sold, but only through a marketplace run by the team.”
The exact amount for the “membership” has yet to be determined, although a figure of less than $15,000 has been suggested in the piece. The revenue will be used to help the team build their new home, and to invest in other partnerships, that will allow the them to sustain their expenses, as they are already being projected to become the NBA's most expensive franchise in the coming years.
