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Golden State Warriors Plan To Break Ground On Mission Bay Arena In 2016

SAN FRANCISCO (KCBS) – The Golden State Warriors are having a memorable season on the court, with the NBA's best record and home court advantage throughout the playoffs.

But the team has big plans off the court as well. Warriors President and Chief Operating Officer Rick Welts offered an update on what progress is being made on the team's planned new arena in San Francisco's Mission Bay neighborhood.

"Most of our players are in their 20's. The future of the world is being determined by 20-somethings in the Bay Area right now and being close to those companies that are really charting the future of the world is a pretty attractive thing," Welts said at the San Francisco Chamber of Commerce's Public Policy Forum on Tuesday. "You put all those things together and this really sets the table for sustained success for the Warriors for 30 years into the future."

Welts said the Warriors hope to break ground on the 12 acre project in early 2016 with plans for the arena to be ready for the 2018-19 NBA season.

The project will not only be a venue for basketball, but will also include retail and restaurant space, an office tower and a waterfront park.

"The only sticking point right now is, we have to pay for this, which is a daunting task," Welts said. "It's a billion dollars of private money with no public investment at all."

The arena will also host concerts, family shows and a wide range of special events throughout the year.

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