By Marcus Thompson
Wednesday, July 8th, 2009 at 2:25 pm in Uncategorized.
UPDATE: I forgot to add the Amare trade is still possible. A team source said the reports of the deal overstated how close the sides were, meaning no deal was ever official, also meaning the Warriors never reneged on sending the No. 7. But I am told the deal is still possible. Yes, Curry is still off the table.
My guess is it will happen, if at all, towards the end of this month, maybe even August. Phoenix will realize this is the best offer it can get.
I have learned from a few of sources that owner Chris Cohan IS INDEED interested in selling the franchise, which TK first reported on Friday.
The unconnected sources confirmed Cohan was in negotiations with Oracle billionaire Larry Ellison recently. But Cohan and Ellison’s group couldn’t reach an agreement. Cohan is “still interested” in selling the team. One source said “he is tired of losing” and another said he is “looking to cash out.”
But he isn’t desperate. According to one of the sources, potential suitors have tried to buy the Warriors at a deal price, trying to take advantage of the Warriors cellar-status, Cohan’s reported money problems and the spiraling economy. One would think Cohan would be eager to strike a deal now, since many expect the economy to hit the NBA harder in the immediate future.
But Cohan isn’t just giving away the team, according to a source.
“If he gets the right offer,” one source said, “I think he would sell the team right now. But he’s not giving it away for pennies.”
Cohan’s interest is only the start of the process, which can take a while. If other potential suitors emerge — the minority owners could pull together and buyout Cohan — and an agreement is reached, the paper work alone would probably prevent the transition from happening before the coming season ends. The NBA would have to approve any sale.
Certainly, Cohan’s desire to sell the team will have an impact on the product, even if it’s just the possibility of major change looming over the franchise. It may make the Warriors more willing to take risks, to speed up the renovation and make this team a winner as fast as possible (a winning team sells better than a losing one). It may put the Warriors in cost-cutting mode (no use dumping money into something you are trying to get rid of). It will likely make for some nervous employees, considering a new owner likely means new brain trust.