Sources: Warriors Accepting Offers Today

by May 17, 2010
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ESPN’s Ric Bucher has sources, and here’s what he says they’re saying: “The Golden State Warriors will begin accepting bids on the franchise starting Monday, and four or five groups are expected to make offers at some point, a league source told ESPN The Magazine’s Ric Bucher on Sunday. In March, Golden State hired Galatioto Sports Partners to handle selling the franchise and serve as their exclusive financial adviser throughout the process. Oracle Corp. CEO Larry Ellison has already made it well known he wants to buy the team. The Warriors’ struggles on the court — they finished this season well out of the playoffs at 26-56 — have been compounded by current owner Chris Cohan’s financial problems. In 2007, the Internal Revenue Service said Cohan owed more than $160 million in back income taxes and penalties from the 1998 sale of a cable television company.”