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Warriors are finally sold, but not to Larry Ellison

Jul 15, 2010, 4:05 PM EDT

Thumbnail image for New Warriors Logo.jpgUPDATE 4:05 pm: Tim Kawakam of the San Jose Mercury News got this statement from Larry Ellison:

“Although I was the highest bidder, Chris Cohan
decided to sell to someone else.”

Could still be some fireworks to come.

Also, look for Lacob to be the active owner, the guy running the team.

2:15 pm: According to Darren Rovell of CNBC, the Golden State Warriors sale is finally complete. Only it’s been sold to someone who’s not Larry Ellison — Joe Lacob and Peter Guber, to be precise — and for even more than expected. The Warriors sale is now the biggest in NBA history, as Lacob and Guber will pay $450 million to run the team. Rovell notes that the team was valued at just $315 million in December, and I’d posit that the $115 million bump is solely because Golden State drafted Ekpe Udoh. The man is simply worth his weight in gold.

The jury’s still out on Lacob and Guber’s ownership styles, and it’s also unknown if both will take on a hands-on approach or if they’ll just cut the checks. Still, it’s tough to make things worse than the status quo. Having the ownership change hands is likely to make the Warriors a better franchise, even if Lacob and Guber aren’t the best owners out there.

  1. banner18 - Jul 15, 2010 at 2:06 PM

    For the sake of the loyal Warriors fan base, I hope these guys are committed to building a winner. I remember the way the place was hopping a few years ago during the playoffs.
    Warriors fans are a loyal bunch, they still go to the games even though their team has been terrible for the last two decades, and they deserve a winner.

  2. mr. bennett - Jul 15, 2010 at 3:07 PM

    they are relocating to Tulsa so they can make a profit.

  3. jay - Jul 15, 2010 at 6:05 PM

    I’m disappointed in Cohan’s apparent decision to sell to Lacob’s group and not Larry Ellison simply because Ellison went out of his way to show people how much he wanted to turn things around.
    That said, I’m glad Cohan will no longer own this team. That guy is one of the worst owners in all pro sports. It was ridiculous the way he was out of touch with what was going on around the league.

  4. morco - Jul 15, 2010 at 6:29 PM

    this team has made two smart moves in two years. draft curry trade for lee. if new ownership can figure out how to build an organically functioning team on this foundation the warriors can once again be relevant.interior defense and chemistry are needed. hire a coach. one with a firm hand and recognizable find a sap blinded by statistics to take montae of our hands.( this may require finding i thomas a job) take back a role player not afraid to do the necessary grunt work. make sure he is a high character player. next determine if biedrens, free of nellie’s debilitating criticism, can rebound and play defense. if not be patient. quick fixes do not work. see if wright can play. then let them play

  5. Sam P - Jul 20, 2010 at 4:26 PM

    Where would you have come up with that notion????

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