BREAKING NEWS: The Golden State Warriors Are To…..

Two San Francisco companies are sued by the Golden State Warriors for unpaid luxury suite fees.

The Golden State Warriors are suing the Mosser Companies and Bauman Landscape & Construction, two San Francisco-based businesses, alleging they have not fulfilled long-term agreements to rent a few of their opulent suites at Chase Center.

The Warriors signed multiyear contracts with the companies for premium suites at the arena before the Chase Center was finished, according to lawsuits filed this month in San Francisco Superior Court.

The Warriors inked an 11-year deal with Bauman for a “theater box” suite that would run from 2019 through 2030, as well as an eight-year deal with the Mosser Companies for a “club suite” that would take effect between 2019 and 2027.

Under the first ring of stands, club suites offer an all-inclusive dining plan, high-top tables, a built-in sectional for lounging, and balcony seating with views of the court, among other conveniences.

Behind the club suites, on the court’s sideline, are theater boxes that offer private balcony seats and access to an exclusive dining area with a food and beverage package.

The Mosser Companies is an owner of apartment buildings in Los Angeles and the Bay Area, with headquarters in San Francisco. General contractor Bauman Landscape & Construction is situated in San Francisco.

Together with the contracts came Mosser’s yearly licensing fees, which began at $517,500 in Year One and grew to $778,129 over time. The payments to Bauman increased from $400,000 to $537,567.

Every late payment would incur a 5% fee, and all past-due amounts would be subject to an annual charge of 10%.

The Warriors stopped paying for the suites when the pandemic stopped hosting events at the Chase Center, and they changed the contracts with the companies to make them last longer.

The lawsuits claim that Mosser and Bauman fell behind on their payments after the Chase Center reopened and received notices of default.

The Warriors threatened to file a lawsuit if the arrears were not paid when they sent a notice of termination for the luxury suite agreements in August.

In addition to attorney fees, the lawsuits seek $4,115,782 in damages plus interest from Mosser and $4,134,561 in damages plus interest from Bauman. The defendants have not yet submitted their court-filed answers to the allegations.

The CEO of Mosser Companies, Neveo Mosser, stated in a statement that the company had to reduce certain perks, such as the luxury suite, in order to concentrate on its primary real estate business due to the pandemic’s effect on San Francisco’s business environment.

He said that, to little effect, the business has met with the Warriors several times to request more flexibility and a change to our payment arrangements.

According to Mosser’s statement, Chase rejected any offer other than full payment of the outstanding balance with no other accommodations. “We will keep collaborating in good faith with the Warriors to reach more agreeable conditions or a settlement that accounts for the change in our collective financial circumstances that has occurred since March 2020.”