New Warriors Owners Pay Off $10M In Rent For Oracle Arena
OAKLAND (AP) — The Golden State Warriors’ new owners haven’t wasted any time getting the NBA team’s financial affairs in order.
The Oakland Tribune reports that just three days after Joe Lacob and Peter Guber took over the team earlier this month, they paid more than $10 million owed to the Oakland-Alameda County Coliseum Authority for rent and other fees.
The Warriors lease Oracle Arena from the authority, a public agency.
Officials said the team, under the ownership of Chris Cowan, stopped paying its bills in 2006. The team had claimed that it was owed money for installing a new scoreboard.
An arbitrator eventually ruled that the Warriors are not allowed to withhold lease payments. A decision on the scoreboard costs is still pending.
A team spokesman declined comment.
(© CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed. The Associated Press contributed to this report.)