The Dallas Mavericks have appointed former Golden State Warriors president Rick Welts as their new CEO.
The NBA is experiencing unprecedented growth, with franchises attaining higher valuations than ever before. Currently, the Golden State Warriors rank at the top of these valuations.
The Warriors are valued at a remarkable $9.14 billion for 2024, leading all 30 NBA teams. Stephen Curry’s on-court performances have significantly contributed to this increase, but Rick Welts, as the former president, played an essential role in enhancing the community and its facilities.
Welts discussed the initial plans for the Chase Center, noting that the Warriors called the Oakland Arena home since 1971. As their fan base grew, a move to a new venue became necessary.
In 2012, the Warriors announced the construction of the Chase Center. Welts, who was the COO at that time, revealed that the original location for the stadium was on Piers 30 to 32 over the San Francisco Bay, but this plan faced significant challenges.
“Building such a large project in San Francisco was complicated, involving numerous obstacles over a seven-year timeline,” Welts shared at the Mavericks’ introductory press conference.
He mentioned that many people opposed the idea, admitting that sticking to the original plan could have resulted in prolonged delays.
Completed in 2019, the Chase Center’s development might have taken years longer if original plans had been followed. Given the dissatisfaction from Dub Nation regarding the initial location, it likely would have been detrimental to the franchise. Fortunately, Salesforce CEO Mark Benioff provided a solution.
“Mark Benioff, who owned four city blocks in the Mission Bay District and initially expected to build Salesforce headquarters there, reached out with a potential solution,” Welts stated. “When I first visited that site, I knew it was perfect.”
Welts emphasized that the entire project was financed by the organization without involving taxpayer funds. After overcoming many challenges, he views the Chase Center as a significant accomplishment.
“I believe it achieved all our goals as the foundation for the Warriors franchise for the next 30 years, which is the purpose of such endeavors,” he concluded.
After a decade with the Warriors, Welts left in 2021 and has now stepped in as the Mavericks’ new CEO, succeeding Cynt Marshall, who will continue as an advisor until December 2025.
