JPMorgan Chase will have its name on the proposed arena for the Golden State Warriors in San Francisco, the National Basketball Association team said.
The privately financed, 18,000-seat arena, which is scheduled to open for the 2019-20 season, will be called the Chase Center, the team said in an e-mail. Financial terms of the contract weren't disclosed by the defending NBA champions.
Chase is aligning itself with the NBA's best team, which is led by reigning Most Valuable Player Stephen Curry. The Warriors, owned by Kleiner Perkins Caufield & Byers partner Joe Lacob, are valued at $1.9 billion, sixth in the 30-team league, according to Forbes.
The New York-based bank is no stranger to sports sponsorship. Baseball's Arizona Diamondbacks play at Chase Field, and the company has significant deals with Madison Square Garden, home of the New York Knicks and Rangers as well as the U.S. Open tennis tournament.
JPMorgan spokesman Erich Timmerman didn't immediately respond to an e-mail seeking comment on the naming-rights deal.
