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Monday, June 24, 2024

A $295 million deal for the Warriors?

Jun 13, 2019; Oakland, CA, USA; Golden State Warriors guard Stephen Curry (30) and guard Andre Iguodala (9) react during the third quarter against the Toronto Raptors in game six of the 2019 NBA Finals at Oracle Arena. Mandatory Credit: Kyle Terada-USA TODAY Sports

In late May, the Golden State Warriors and Kaiser Permanente announced a deal that will see the non-profit health care system become the presenting partner of Thrive City, the arena district around the Chase Center, as well as the official team physician of the Warriors.

While no numbers have been officially released, according to Phil Matier of the San Francisco Chronicle, the deal could be worth upwards of $295 million

Tell me more…

Matier got the number from the minutes of a Kaiser Foundation finance committee meeting in 2016.

In them, the panel approved pursuing “a new sponsorship arrangement with the Golden State Warriors in an amount not to exceed $295.58 million.”

Kaiser’s response…

In response to the findings, Kaiser’s VP of Communications John Nelson had this to say: 

“[The number] will ultimately depend on whether various optional components are included or declined, over the 20-year period. It’s possible the final figure could be much less than that upper limit.” 

According to Nelson, $295.58 million is the most they would pay.

For perspective…

If Kaiser were to pay the entire $295 million over the course of the next 20 years, that would be more than the following:

– Bank of America’s reported 20-year, $100 million deal to sponsor the Panthers stadium (2004 – 2024) 

– Hard Rock’s reported 18-year, $250 million deal to sponsor the Dolphins stadium (2016 – 2034) 

– US Bank’s reported 25-year, $220 million deal to sponsor the Vikings stadium
(2015 – 2040)

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