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The Golden State Warriors must pay the city of Oakland and Alameda County nearly $50 million in outstanding debt accrued during renovations to the Oakland Arena in the mid-1990s, the California Supreme Court ruled this month.
The state's high court rejected the Warriors' appeal Wednesday in the NBA franchise's legal battle with the joint powers authority, run by Oakland and the county, that operates the arena.
The city and the county issued more than $140 million in bonds to help pay for the renovations on the understanding that the Warriors would help repay the debt.
However, the franchise attempted to argue that it was no longer responsible for repaying the debt once it relocated from Oakland to the Chase Center in San Francisco.