The Golden State Warriors have mastered the art of popular dances on the court and the team is leading the National Basketball Association power rankings with a 60-6 record on the season, but according to the team's president, its latest endeavor will set the club's success foundation for the next 30 years.
Setting out to build the Madison Square Garden of the West Coast, the Warriors have partnered up with JPMorgan Chase to bring about a new home for the team in 2019. The $1 billion project is 100 percent privately financed, according to Warriors President Rick Welts.
"We — right now — play in the oldest arena in the NBA … so we need a new facility to be able to compete going forward." he told CNBC's "Closing Bell" on Tuesday. Welts added that the Chase Center will be "the first time in San Francisco's history" that the city will have a world-class sports and entertainment arena.