Warriors acknowledge rising cost of fixing SF piers

Warriors acknowledge rising cost of fixing SF piers
January 31, 2014, 1:15 pm
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In May 2012, Warriors owner Joe Lacob announced the team would move into a new waterfront arena by 2017. (AP)

The Warriors' plans to play in a new, shiny arena on the San Francisco Bay aren't going as smoothly as they had hoped.

Rick Welts, Warriors president and COO told the San Francisco Chronicle that the cost to rebuild Piers 30-32 is now at $180 million, more than double the original projected cost.

[RELATED: Lacob on rising arena costs: 'You only live once']

"The Warriors will be spending upward of $180 million just to fix the city's pier. On top of that, we are spending another $40 million to build a 7-acre waterfront park. The Warriors can only recoup $120 million of that, from money that comes from the project, not from the port or the city," said Welts.

Getting the arena built by the start of the 2017-18 season is looking less likely, but the Warriors have yet to publicly admit they won't be able to meet that goal.

[RELATED: New design for Warriors' waterfront arena released]

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