Lacob on W's rising arena costs: 'You only live once'

Lacob on W's rising arena costs: 'You only live once'
October 29, 2013, 11:00 am
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Joe Lacob and Peter Guber hope to be celebrating the opening of a new waterfront arena in time for the start of the 2018-19 NBA season. (AP)

Warriors co-owner Joe Lacob said he's not concerned with the rising estimated costs for a new waterfront arena in San Francisco.

According to the San Francisco Chronicle, Lacob spoke candidly about the arena effort at a San Francisco Chamber of Commerce luncheon on Monday.

"It's a big number," Lacob said of the $1 billion project, including as much as $170 million to fix up the San Francisco piers 30-32 that are expected to house the arena. "But look, we're privately doing this, and we've made the decision we're going to do it. It's more expensive than we thought, but you only live once."

The Warriors face a long road to make the arena a reality, both financially and politically, but Lacob and fellow co-owner Peter Guber are both saying the right things.

"We've become dyslexic," Guber said. " 'No' means 'on.' " 

The pier rehabilitation was part of the framework of a deal agreed to a year ago, which called for the city of San Francisco to lease the area to the Warriors for 66 years and reimburse the team up to $120 million. But with the estimate for fixing the piers rising, mayor Ed Lee implied San Francisco can't adjust its contribution.

"I don't think the city can chip in more," Lee said, according to the Chronicle. "I think the numbers are what they are. They rose the last six months. ... We want to support (the Warriors), but we also have limitations on the city. And they know."

The Warriors plan to move in to their new arena on the San Francisco Bay after their lease at Oracle Arena expires following the 2017-18 season.