SAN FRANCISCO (CBS13) - The Golden State Warriors are reportedly poised to move back across the bay and take up residence down the street from AT&T Park.

Owner Joe Lacob said he is not yet prepared to make any announcement, but the Bay Area News Group and ESPN both reported Monday that the team is moving forward with the idea of a waterfront arena at Piers 30 and 32. The location is currently used primarily as a parking lot.

The 13-acre area, at one point, was going to be the hub of the America's Cup race. Race organizers have dropped those plans.

Mayor Ed Lee sent a letter on May 11th saying the city would work with Warriors executives to bring the team to San Francisco in time for the 2017-18 season. The Warriors' lease at Oakland's Oracle Arena expires at the end of the 2016-2017 season.

San Francisco has agreed to put up $8 million into shoring up the aging piers. But experts warned that the site would actually need at least $50 million in foundation work to handle a major development.

Following the reports of the Warriors pending move, Oakland Assistant City Administrator Fred Blackwell released the following statement: "We are still in direct dialogue with the Warriors about the opportunity to build a new arena. We have always been aware that they are exploring all their options, including a San Francisco site. We continue to believe that Coliseum City offers the best new home to the Warriors, Oakland A's and Oakland Raiders.