North American NBA basketball team the Golden State Warriors has agreed a two-year lease extension to remain at the Oracle Arena in Oakland, California, until at least the 2018-19 season, ahead of a planned move to San Francisco.
The team has played its home games at the Oracle Arena since 1997, but plans to relocate to the Chase Center in time for the 2019-20 season.
The lease extension includes options that the Warriors can exercise to remain at the Oracle Arena for up to an additional three seasons after the agreement is due to conclude.
In addition, the Warriors said the deal includes an unspecified rent increase, adding that the agreement still requires approval from Oakland City Council and Alameda County officials.
According to the Mercury News newspaper, Rick Welts, president and chief operating officer of the Warriors, said: “This is an exhilarating time in the history of our franchise and we have an incredible opportunity to create more lasting memories with our passionate fans prior to the opening of Chase Center. We look forward to the journey and the excitement that lies ahead.”