The Golden State Warriors have announced a unique twist on a traditional PSL program for their new home at Chase Center in Mission Bay in San Francisco. The team is asking for 30-year commitments, calling it a membership program.
Similar to a personal seat license, season ticket buyers will be required to pay a one-time fee for the rights to buy their seats for the next 30 years. Also similar to PSLs, buyers can pay a lump sum or finance their payments. The unique twist is that the Warriors will refund 100% of that fee after the 30 years.
While easy to call it unique, it’s hard to call buying tickets in the new program an investment. End users are essentially loaning the team money for 30 years, but the “loan” will be repaid to those end users without interest or consideration for inflation or currency fluctuations.
Memberships can be resold or transferred, but only through a marketplace set up by the Warriors. And if you sell your membership for less than you bought it for, you still have to wait until the end of your 30 years to recoup the difference from the team.
Ticket prices have not been decided upon yet, but team officials claim half of the memberships will price under $15,000. The other 50% are expected to be attached to considerably higher price tags.