Warriors to pick up tab for Oakland victory parade

Golden State Warriors' Stephen Curry and Joe Lacob hug after the Golden State Warriors defeated the Cleveland Cavaliers 129-120 in Game 5 to win the 2017 NBA Finals at Oracle Arena on Monday, June 12, 2017 in Oakland, Calif. less Golden State Warriors' Stephen Curry and Joe Lacob hug after the Golden State Warriors defeated the Cleveland Cavaliers 129-120 in Game 5 to win the 2017 NBA Finals at Oracle Arena on Monday, June 12, 2017 in ... more Photo: Carlos Avila Gonzalez, The Chronicle Photo: Carlos Avila Gonzalez, The Chronicle Image 1 of / 99 Caption Close Warriors to pick up tab for Oakland victory parade 1 / 99 Back to Gallery

In a surprise gesture, Warriors co-owners Joe Lacob and Peter Guber announced Thursday that the team will reimburse the city of Oakland for the entire cost of the championship victory parade.

Speaking to the crowd at the post-parade rally on Lake Merritt, Lacob said the Warriors are picking up the tab for the entire festivities. He made the pledge shortly after Mayor Libby Schaaf gave him and Guber the key to the city and described herself as “the Mayor of Dub Nation.”

While it wasn’t immediately known how much the parade and rally costs, it could run into tens of thousands dollars if it includes the cost of hundreds of police officers who patrolled the parade route.

Lacob said this might not be the last victory parade for the Warriors.

“I’ve got another dream: More, more championships for the Golden State Warriors,” Lacob told the cheering crowd.

Even before Lacob’s surprise announcement, Schaaf said the team had already set the “gold standard” for sports franchises giving back to their communities. She said that in the past three years, the Warriors have given $7 million to youth sports groups in Oakland.

“They are like Oakland,” the mayor said, “scrappy, they believe in diversity and we love them here in this town.”

Michael Bodley is a San Francisco Chronicle staff writer. Email: mbodley@sfchronicle.com Twitter: @michael_bodley