9

Fourth Bidding Group Identified; Process Now in Binding Bid Stage

A group led by David Bonderman, a founding partner of the private equity firm TPG Capital, was at the team’s downtown facility yesterday as part of a tour. (I saw Bobby Rowell guiding the tour and learned who it was he was hosting, but had to confirm with a another non-related source before I went live, per company policy.) That is the fourth potential ownership group Bay Area News Group has been able to identify. The examination of the Warriors, by the bidders, is now complete said one source close to the negotiations. The source said the feedback from the potential ownership groups was all positive and there is no question the Warriors will be sold for a record price, eclipsing the mark of $401 (the price Robert Sarver paid for the Suns).

Purchase of sale agreements have been submitted to each of the four finalist groups. The soft deadline for them to return is the end of the month, though after the holiday is acceptable to Cohan according to one of the sources. After he receives those bids, Cohan will decide which he accepts or if he wants to continue negotiations. If he chooses one, that group will place a deposit on their bid and the task of hashing out the particulars will being in earnest.

So, as a review, the four finalist groups are: * A group led by Oracle billionaire Larry Ellison, who (SI.com reported that Ellison has teamed up with the current minority owners)

Advertisement

* A group headed by 24-Hour Fitness founder Mark Mastrov

* A group that includes Mandalay Entertainment Group chair Peter Guber (and maybe Mandalay co-founder Paul Schaeffer)

* A group that includes (could be headed by) David Bonderman

Bonderman was the latest to be revealed. According to his company’s website, TPG Capital manages some $48 billion in capital. They have three U.S. offices, one in San Francisco, one in New York, and one in Fort Worth, where Bonderman is from and where the company headquarters are located. TPG Capital co-founder James Coulter has an MBA from Stanford and is on the school’s board of trustees. Bonderman also does a lot of business in the Bay Area.

Back in 2007, Forbes’ list of 400 Richest Americans had Bonderman at No. 105. In 2008, he was listed as No. 334 on Forbes’ list of billionaires, with a net worth of $3.3 billion. On the same list in 2009, he was down to #701 with a net worth of $1 billion.

Bonderman once paid $7 million to have the Rolling Stones play at his birthday party at the Hard Rock Hotel in Paradise, Nevada, with John Mellencamp as the opening act. He was also identified as an investor in the building of a Las Vegas arena. According to the Las Vegas Sun, the hope was to have an arena in time for an NHL expansion team by 2010. But the arena is still in the planning stages.

Advertisement

Marcus Thompson

  • JimPunkrockford

    please, please, please NO Guber. the only person on the planet that could be WORSE than Cohan!!!

  • Marcus Thompson

    JimPunkrockford,

    Why you say that?

  • Gunner

    Ellison, please buy this team.

  • JimPunkrockford

    Guber is the worlds biggest self-serving prick! really the best way to describe him is that he is “Cohan-y”, minus all the litigations. mass firings of employees right before Xmas with no severance, shady real estate dealings..etc. he is all about one thing, lining his pockets with money. he is a shyster in the first order. that is what he is famous for! hit up a little book on amazon “HIT AND RUN HOW JON PETERS AND PETER GUBER TOOK SONY FOR A RIDE IN HOLLYWOOD” or “Indecent Exposure: A True Story of Hollywood and Wall Street”. the dude is a huckster. i fear the truth would be Cohan part Duex if Guber where to be the new owner.

  • Shooty

    Agreed…Guber would be horrible. He wasted hundreds millions of dollars of Sony’s money on things like improving the Executive cafeteria, the end result being films like the Last Action Hero.

    Is Magic Johnson attached to the 24 hour Fitness bid? That would be the NBA equivalent of having Saddam Hussian run Kurdistan. Question if under this scenario the Warriors played British Petroleum in an exhibition, which ownership would you root for?

    The private equity guy would cut scouting to the bare minimum, raise ticket prices drastically and take out a huge loan and give himself a special dividend…the basic slash and burn PE model. Translation Donald Sterling north.

    In short, Ellison or bust.

  • Cranky Teacher

    So … four egomaniac billionaires? Surprise!

  • MWLX

    JimPunkrockford:

    Interesting info, but for your own protection hit up a little book on Amazon called the “Libel Handbook.” There’s a way to inform us with relevant facts, but you probably want to avoid defaming a billionaire who could take you to the cleaners.

  • Doctor K

    Why would a billionaire care about someone posting on a basketball blog? LOL. I’m sure with all wealthy people, there’s a long line waiting to sue them for something.

  • Pingback: The Inevitability of Larry Ellison « The History of Now – NBA & Pro Sports Blog