Warriors agree to pay back nearly $800K to reimburse Oakland for parade costs

- The Golden State Warriors announced today that they are paying nearly $800,000 to reimburse the city of Oakland for costs related to June's parade after the team won the NBA championship.

The announcement came after the East Bay Express exposed the situation in September, and KTVU followed the story.

The June 15 parade and rally following the Warriors' 4-1 series victory in the NBA Finals over the Cleveland Cavaliers brought thousands of fans to downtown Oakland.

Following a dispute over the costs Oakland city departments incurred as a result of the parade, the Warriors said today they are paying the city $786,988.

The team issued a statement expressing "disappointment with the process and the large disparity" between the Oakland's initial estimate of $300,000 in costs and the subsequent amount it said the parade cost, while also saying most American cities cover the majority of expenses related to victory parades.

"Out of an abundance of goodwill toward the city of Oakland, the Warriors have agreed to cover the entirety of the city's revised estimated costs," the statement said.

City officials issued their own statement in response to the Warriors' announcement today, thanking the team for the payment, "which offsets all taxpayer costs it took to provide police, fire and public works personnel to staff such a massive public event."

"The parade was a safe and joyous community occasion for generations of Oaklanders, and the city appreciates the Warriors' financial investment -- few professional franchises can boast such a commitment to their home city."

Of course, Oakland will not be the Warriors' home city for too much longer.

The team plans on moving across the Bay to San Francisco and the new Chase Center, an arena that broke ground earlier this year and is expected to open in time for the 2019-20 NBA season.

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