Developer Mosser Companies is allegedly $4 million in arrears on their luxury suites at the Chase Center, and the team-owned arena managers are taking them to court for the unpaid bills.
It’s no secret that the Golden State Warriors moved from Oakland’s Oracle Arena to SF’s more luxe Chase Center so they could make more money off luxury suites for the millionaire and billionaire class. And that plan has largely worked. But it apparently did not work in one specific case, as the SF Business Times reports the team is suing a local developer who allegedly stopped paying for their luxury suite a few years ago.
The developer in question is SF-based Mosser Companies, who bought an eight-year lease on a suite in 2017. Of course COVID came along, and so the suites were useless for much of 2020 and 2021, so the Warriors suspended the bills and added a bonus year to the deal. But according to the lawsuit, Mosser Companies stopped paying in July 2022.
And the Warriors claim in the lawsuit they are owed $4.1 million. Per the Business Times’ reporting, that “includes $581,463 for the third-year license payment and $616,351 for the fourth year plus a 5% late fee for each year and accelerated payments for the remainder of the lease, plus 10% interest, attorney fees and suit costs.”
(Golden State Warriors LLC owns the Chase Center, and therefore handles ticket and luxury suite sales.)
According to the lawsuit, the Warriors terminated Mosser Companies' lease for the suite this past August.
Mosser Companies was founded in SF in 1955, and according to their website, now leases apartments “in lively and vibrant neighborhoods throughout San Francisco, Oakland, and Los Angeles.” Ironically, Mosser had last been covered on this site for suing a Van Ness Avenue business for failing to make their rent as the bus lane construction dragged years and years behind schedule.
Image: SAN FRANCISCO, CALIFORNIA - NOVEMBER 14: A general view of the Golden State Warriors playing against the Minnesota Timberwolves on the special NBA In-Season Tournament floor at Chase Center on November 14, 2023 in San Francisco, California. (Photo by Ezra Shaw/Getty Images)