PHOTOS: Warriors groundbreaking ceremony for Chase Center
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The Warriors' new arena will be known as the Chase Center, and is expected to be finished in time for the 2019-2010 season.
The team's lease agreement across the Bay at Oracle Arena is up at the end of the season. The owners first wanted an arena along the city's waterfront, but faced strong opposition.
"Pride, that they bring the community, that you can't measure in dollars and cents," said Warriors fan Lee Neves. "You just really can't."
The Golden State Warriors have a real economic impact on the East Bay with their $7.5 million lease, says Chris Dobbins of the Joint Powers Authority. "The Warriors are actually paying down the debt on the arena that they occupy," he told ABC7 News.
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WATCH: Warriors hold groundbreaking ceremony for new San Francisco arena
VIDEO: Warriors hold groundbreaking ceremony for new SF arena
The JPA and the team are currently in negotiations for an extension, since the Chase Center at Mission Bay will not be ready until 2019 at the earliest.
"I think the Warriors believe they have options to go other places," Dobbins said. "Namely probably San Jose. You know we want them to stay as long as they will and that's kind of where we're at."
The Warriors organization held a private groundbreaking ceremony Tuesday at their new site. "That's the cost of doing business," said Dobbins.
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Fans say they get it, basketball is a business. "You guys got a top quality product so a top quality product unfortunately, you gotta pay top quality prices," said fan Mitchell Brown.
The Mission Bay Alliance says litigation is ongoing over the Chase Center. Oakland City Council will discuss the Warriors lease Tuesday during closed session. An agreement should be finalized in the next couple of weeks.
PHOTOS: Golden State Warriors fans 2016-2017