Golden State Warriors: Sold

by July 15, 2010

Larry Ellison was surprisingly outbid for the rights to the Warriors. Report CNBC and CSN on the record-setting sale: “The price for the team is $450 million, beating the previous NBA record—$401 million, which was the amount Robert Sarver paid for the Phoenix Suns in 2004. Lacob and Guber beat out rival bidder Larry Ellison, chief executive officer of Oracle  Lacobs bought a share of the Boston Celtics in 2006. The sale was brokered by Galatioto Sports Partners, which has been involved in the recent sale of the Charlotte Bobcats and Chicago Cubs. The Warriors franchise, which was bought by Chris Cohan in 1995 for $119 million, was valued at $315 million by Forbes in December of last year, but the Warriors’ location in the Bay area undoubtedly added more interest and thus a higher price.”