The Golden State Warriors are suing two San Francisco firms —the Mosser Companies and Bauman Landscape & Construction—the team claims have failed to pay for long-term contracts to occupy a couple of its luxury suites in Chase Center.
According to the lawsuits filed this month in San Francisco Superior Court, the Warriors entered into multiyear contracts with the companies prior to the Chase Center’s completion for premium suites at the arena.
The Warriors signed an eight-year agreement with the Mosser Companies for a “club suite” in effect between 2019 and 2027, and an 11-year agreement with Bauman for a “theater box” suite from 2019 through 2030.
Club suites are located under the first ring of stands and include, among other amenities, an all-inclusive dining plan, along with a built-in sectional to lounge on, high-top tables and balcony seating with views to the court.
Theater boxes sit along the sideline (opens in new tab) of the court behind the club suites and include access to an exclusive dining area with a food and beverage package, along with private balcony seats.
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The Mosser Companies is a San Francisco-based owner of apartment buildings across the Bay Area and Los Angeles. Bauman Landscape & Construction is a San Francisco-based general contractor.
The contracts came alongside annual licensing payments for Mosser that started at $517,500 in Year One and gradually increased to $778,129. For Bauman, the payments started at $400,000 and increased to $537,567.
There would be a 5% fee on any late payment and a charge of 10% annually would be assessed on all past-due amounts.
When the pandemic shut down events at the Chase Center, the Warriors suspended payments on the suites and modified the agreements with the companies that extended the length of agreements.
After the resumption of activities at Chase Center, the lawsuits allege that Mosser and Bauman fell behind on their payments and were served notices of default.
In August, the Warriors sent a notice of termination for the luxury suite agreements and accelerated demand for payments, threatening a lawsuit if the back payments were not made.
The lawsuits seek $4,115,782 in damages plus interest from Mosser and $4,134,561 in damages plus interest from Bauman, in addition to attorney fees. The defendants have not yet filed their responses to the claims in court.
Neveo Mosser, CEO of Mosser Companies, said in a statement that the pandemic’s impact on San Francisco’s business climate meant that the company had to pull back on perks like the luxury suite in order to focus on its core real estate business.
He said the company has met with the Warriors multiple times to request greater flexibility and a modification of our payment arrangements, to little effect.
“Chase turned down any offer other than full payment of the outstanding balance without any other accommodation,” Mosser said in the statement. “We will continue to work in good faith with the Warriors toward more amenable terms or an exit that takes into consideration the shift in financial realities we’ve all experienced since March of 2020.”
Bauman Landscape President Michael Bauman did not respond to The Standard’s request for comment.