Warriors announce new plans for San Francisco arena

The Golden State Warriors announced terms have been reached with salesforce.com to purchase land in San Francisco’s Mission Bay neighborhood, where the team intends to build a new state-of-the-art sports and entertainment center.

Terms of the deal were not announced.

Although specific details of the plan remain to be announced, the Warriors said previously discussed basic elements of the event center remain in effect: the arena will hold about 18,000 seats; it will showcase NBA basketball games as well as concerts, cultural events, family shows and convention activities; and it will be privately financed on private land, virtually unprecedented among major league sports and entertainment facilities in the U.S.

The new Warriors event center will be built on 12 acres of private, inland property, bounded by 3rd, 16th and South Streets, and Terry Francois Blvd.