The Golden State Warriors are the first NBA team to use personal seat licenses to finance their $1 billion Chase Center.

A team official confirmed that the number of seats dedicated for season-ticket holders will decrease from the 14,500 currently at Oracle Arena in Oakland to roughly 12,000 at Chase Center in San Francisco. Half of the tickets will come with a per-seat cost of $15,000 or less. The other half would cost more than that.

The fee will essentially act as an interest-free, tax-free loan for three decades. The Warriors will return the money the fan paid for the right to buy tickets after 30 years. The license will be called a "membership."

The membership will be transferable, but unlike in the NFL, the licenses will not be allowed to be resold for a value above the original price paid minus the years used.

The Warriors will let fans pay for memberships in installments, though those plans haven't been formalized.