Warriors suing suite owners over unpaid multiyear lease

Warriors LLC is suing Mosser Cos. Inc., "a prominent owner and renovator of historic apartments" in S.F., Oakland and L.A. for “failing to pay on the multiyear lease of a suite” at the team's Chase Center arena, according to Ron Leuty of S.F. BUSINESS TIMES. Mosser Cos. was an “early buyer of a club suite” agreeing in April 2017 to pay license fees starting at “more than a half-million dollars” a year over eight years to “use the suite for half of arena events.” The suit seeks “more than” $4.1M. That includes $581,463 for the third-year license payment and $616,351 for the fourth year “plus a 5% late fee” for each year and accelerated payments for the remainder of the lease. According to the suit, Mosser Cos. “failed to pay” its third-year invoice. The Warriors in August exercised an option to “terminate the club suite deal” (S.F. BUSINESS TIMES, 11/29).