By Marcus Thompson
Wednesday, July 14th, 2010 at 4:49 pm in Uncategorized.
Practically the entire Bay Area waits to see what comes of the negotiations going on right now for the purchase of the Golden State Warriors. But the process is being held up. The so-called imminent sale keeps getting held off. Why?
Perhaps it is because no one has hit the number owner Chris Cohan has in his head: $450 million.
According to a source with knowledge of the negotiations, Cohan, at this point, will not take lower than $450 million. No one has hit that mark yet, so the impasse has set in. Cohan and his hired guns are trying to at least get his minimum, and the potential suitors trying to sell for less.
Will Cohan take his team and go home or eventually come down off his minimum price?
Matt Steinmetz from CSN Bay Area is reporting there is a bid above $400 million on the table, but Cohan wants more. When I check that through a source, the response was “Duh?” So it looks like Cohan can sell the Warriors for a record price, but he wants to shatter the record.
That’s where we are right now. Not sure how long we’ll be there.