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Warriors Sold … Not to Larry Ellison

Owner Chris Cohan had his price in mind – $450 million – and clearly wasn’t ready to walk away from the negotiating table until it was met.

Finally it was.

But by the group with Joseph Lacob, a minority owner for the Celtics, and Peter Guber of Mandalay Entertainment. Not by Oracle billionaire Larry Ellison.

So Warriors get one of their wishes in that Cohan finally sold the team. But their desire to have a charismatic baller as the owner extinguished when Ellison’s people pushed away from the table.

Marcus Thompson

  • Fearless Fitz

    First off, these guys aren’t “Boston” guys. They are California guys – UCLA and Stanford grads. Gruber runs an L.A. entertainment company (Mandalay) and teaches at UCLA. Lacob (who is to run the team) is a partner in an investment firm in the Bay Area and still has a leadership presence at Stanford. You don’t have to live in Boston to invest in the team.

    The bottom line question is why did they buy the team? Did they buy it as a wise investment (like Lacob probably did in Boston), or are they going crazy to win titles and be a dominant franchise? We will only see the answer by the way they run the team. That said, some say they plan to leave the leadership in place for now, which makes me CRINGE.

    Anyway, the fact that Ellison didn’t want to spend to get the team means that he might not have spent on big-time players that would take him into the luxury tax, so these other guys aren’t necessarily a bad thing. We’ll have to wait and see. In my fantasy-land, Mully would come out at the announcement and be back in charge (with a nice raise and a BIG apology). They could let him clean house of all these guys that double-crossed him to advance their own agendas.

  • DKnight007

    lavalovers Says:
    July 15th, 2010 at 11:50 am
    No Chris Mullin- he was a lame GM

    Im happy they are sold but i was excited for LE’s energy. Oh well, he will be bumming/regretful next year when we are happening again and his pecker would’nt let him pull the trigger.

    ^^^^^^^
    Keep dreaming!

  • Cohancankissmya$$

    Ellison didnt save us :-(

  • Brian

    Happy the Warriors are sold, bitter that it’s not Larry Ellison. It’s as if Cohan wanted to give us the middle finger one more time on his way out of town. What comes around goes around and Cohan has a massive store of bad karma built up. A nuclear kick to the groin is somewhere in his future. FU Cohan. I don’t care how much money you have, I’m just glad I’m not you. Don’t even think about showing your face in the bay area ever again. The bay area loathes your very existence. Beat it!

  • dew

    Hurray, Bostonians continue to be the bane of my existence. Eff this, i’m moving to miami.

  • Larry

    Kawakami tweet: Whoa. Ellison statement: “Although I was the highest bidder, Chris Cohan decided to sell to someone else.”

  • Willy

    How do we know the team is staying in Oakland?

  • DKnight007

    TownLove Says:
    July 15th, 2010 at 12:04 pm
    Jay I wouldnt get such a hard-on about Summer League Ike Diogu dominated during Summer League scoring 37 in his first Summer League game and went on to do nothing. On the flip side Curry had a horrible Summer League, but went on to have a nice season. This is not a knock on Cousins. I like his game.

    As far as Morrow. He had nice offense, but they couldnt keep him on the floor because he was such a defense liability. Every time he came in to the games teams would commence to attacking him. He cant guard 2s or 3s. Morrow shoots 45% from the arc and Wright shoots 40%. Not a big drop off.

    ^^^^^^^^
    Lets see again….

    Azbuki, Morrow, Randolph, Turiaf for an OVER paid David Lee, who can’t play one on one defense and a scrub named Dorell Wright??

    Those moves scream of stupidity!

  • haastheman

    Why is everyone upset that the team was sold, but not to Ellison. The important thing is that Cohan no longer owns the team.

    On top of this, the key figure in the group that bought the team, has a championship under his belt. A recent championship.

    I can’t wait for the next domino to fall. Will Nellie and Riley remain? Does he have his own team that he wants to bring? I’m excited for the next stage of Warrior Basketball!!!

  • DKnight007

    GregC Says:
    July 15th, 2010 at 10:30 am
    Cohan’s one last “up your’s” to Warriors fans. In my best Pete Franklin imitation

    “Your’s Warriors fans! Up Your’s!”

    ^^^^^^^
    Exactly! Pete Franklin was a great one!

    KNBR has never been the same since!

  • Jigglefish

    Here’s what will happen. Ellison, who doesn’t like being bested and has mentioned the option of buying another team, will buy the Kings and move them to San Jose. The Warriors will continue to suck and Gruber will move them to Las Vegas. The Bay Area can’t support two teams, they will argue. I wouldn’t be surprised if Ellison hasn’t already valued the Kings and decided be can get them for a better deal and have better options.

  • http://jayshealthycoffee.com Jay

    @ Townlove
    As far Cousins in summerleague. I am fully aware of the significance of summerleague however, you can always tell who would be able to play in the league. Players as recent as Tyreke Evans, and say, Darren Williams clearly showed in summerleague that they could play. Curry by his own admission, said he just kept on workin and stayed focus. When I see Cousins though I clearly see that he will be a force in this league real soon. Former NBA greats Patrick Ewing, Steve Smith, and Chris Weber all believe the same. As far as being winded, ALL ROOKIES ARE WINDED. I know with you being a Warriors fan you don’t want to hear this, but DEMARCUS COUSINS WILL HURT THE WARRIORS FOR YEARS TO COME. On top of everything else, THAT’S GOTTA HURT

  • ArmChair GM

    I just read this unsubstantiated quote by Larry Ellison…

    “Although I was the highest bidder, Chris Cohan decided to sell to someone else. In my experience this is a bit unusual. Nonetheless, I wish the Warriors and their fans nothing but success under their new ownership.”

    Marcus can you substantiate this story. And if that is true, IS THAT EVEN LEGAL?!?

    How can Cohan sell to a lower bidder if the whole process was set in motion to sell to the highest bidder?

    Can Stern and the Board of Governors step in? Can L.E. sue Cohan?

  • ArmChair GM

    Again, it’s unsubstantiated, but something sounds fishy to me. If to people come to an auction to buy a car, the premise being to sell to the highest bidder, why would the lower bidder win out.

    It definitely sounds strange that one of the richest men in the world, who has publicly been trying to buy the Warriors for over a year, would allow himself to be outbid, especially considering the competitive drive he has.

    Cohan might be more crooked than we realize. Might explain his 160 million tax problems.

  • ArmChair GM

    Again, it’s unsubstantiated, but something sounds fishy to me. If to people come to an auction to buy a car, the premise being to sell to the highest bidder, why would the lower bidder win out?

    It definitely sounds strange that one of the richest men in the world, who has publicly been trying to buy the Warriors for over a year, would allow himself to be outbid, especially considering the competitive drive he has.

    Cohan might be more crooked than we realize. Might explain his 160 million tax problems.

  • ArmChair GM

    My bad for the double post.

  • http://www.bayarearadio.org BayRadioDJ

    Jeebus! Would you idiots quit bitchin’ about the W’s now being owned by “some Boston guy”?

    Joseph Lacob owned a *sliver* of the Celtics. He’s a Stanford grad who is a partner in one of the biggest Silicon Valley venture capital firms there is — and it’s based in Menlo Park.

    From his bio:

    Joe is actively involved in industry organizations including the American Heart Association and the AHA Roundtable. He is also very involved at Stanford University, serving on advisory boards at the Medical Center, Business School and Athletic Department.

    Joe received his Bachelor’s in Biological Sciences from the University of California at Irvine, his Master’s in Public Health from UCLA and his M.B.A. from the Stanford Graduate School of Business.

  • Badguyeddie

    Joe Lacob is a Local guy from Menlo Park who Has Warrior season tickets, Peter Guber is from Vegas with the Mandalay group. That group was involved in trying to buy the A’s in 2001-2002. These guys arent moving the Warriors anywhere, not even back to the City. This sounds like a very solid ownership group,and im excited to see a new fresh start from them.

  • http://www.bayarearadio.org BayRadioDJ

    > $50 says these Boston guys screw us.

    My freaking god. NEITHER of the guys who are going to own the team are “BOSTON GUYS”!!! Doesn’t anybody here know who Peter Guber is? He’s one of the richest and most successful guys in Hollywood! You don’t think he’s going to want to stick it to the Lakers?

  • Nately

    Hey guys,

    Get your stories straight — there is a lot of uninformed comment here. Lacob actually is a pretty home-grown guy. He is a UC Irvine, UCLA and Stanford grad and has been in the Bay Area for 30 years. He was a very small percentage owner of the Celtics and even that was a result of a local, Bay Area connection. The managing owner of the Celtics is the family of Irv Grousbeck (now a Consulting Professor at the Stanford Graduate School of Business, a former cable TV systems mogul).

  • Nately

    You folks don’t know how business works, with company tenders, etc.

    Neither did Damon Bruce (utterly clueless on this point) on KNBR. There are deadlines on team and company sales for a reason — to generate the legitimate and fair best bid in a timely fashion. Everybody is aware of the deadline. Why do you think an eBay auction has an end date and time for lord’s sake? Why does an IPO have an underwriting end date? Anybody can say — “I would have paid more” after an auction/tender is over. Ellison seems to be in sour grapes mode now.

  • MWLX

    Some of you guys need to avail yourself of the facts before you spout nonsense:

    1) Lacob is a local guy, a Bay Area resident who’s been a Warriors season-ticket holder for 10 years. Just because he has a minority share in the Celtics doesn’t mean he lives in Boston. It does mean he’s been involved with a championship franchise, which sounds good to me.

    2) Ellison says he actually submitted the highest bid, but Cohan picked the Lacob-Gruber group instead. Who knows why, but don’t blame Ellison and claim wrongly that he was outbid. Blame Cohan for screwing around one more time. The good news: He’s gone.

  • DKnight007

    Jigglefish Says:
    July 15th, 2010 at 1:25 pm
    Here’s what will happen. Ellison, who doesn’t like being bested and has mentioned the option of buying another team, will buy the Kings and move them to San Jose. The Warriors will continue to suck and Gruber will move them to Las Vegas. The Bay Area can’t support two teams, they will argue. I wouldn’t be surprised if Ellison hasn’t already valued the Kings and decided be can get them for a better deal and have better options.

    ^^^^^^^
    The NBA will not allow a team in Vegas anytime soon….too much gambling and corruption going on in Vegas and too mamy bad influences in that town for a pro team.

    The NBA already has enough problems trying to cover up the refs and Donaghy problem.

  • ArmChair GM

    Badguyeddie,

    Same question for you that I asked Thenab90…

    How do you know that these new owners aren’t going to move the Warriors from Oakland?

  • DKnight007

    FIRE BOB FITZGERALD!

  • Leftshot

    ArmChair GM is right. This quote is now an article on the Mercury New site and if true would be quite a story. In fact, if the amount Ellison’s group offered was even equal to the “winning bid”, it would favor the Ellison group due to the four minority investor’s involvement. The capital gain advantages could result in quite a bit more in Cohan’s pocket.

    Something’s fishy. Because if there is one thing we thought we could count on from Cohan it’s that he was only interested in one thing: Getting himself the most money from the sale.

  • FeatherRiverDan

    I guess this means that the Warriors are worth $540,000,000 if this guy only bought 80%…..What are the Lakers worth? The american dollar sure isn’t worth much today….

  • ComOn Cents

    Hey, all. Give it a rest! You have no idea how aggressive or passive, right or wrong, smart or stupid the new management will be. I have no idea either so don’t go giving me guff for telling you how “Life with Lacob” is gonna be.
    Cohan will soon be only a shrinking image in our rear view mirrors. That is a good thing.
    What will happen in the future cannot be forcasted except for the Nostradamus’s among you.
    Wish the new ownership well and sit back and see how they do.
    Live with the fact that you will not be the GM and what you (and I) say has no pull!!!

  • qodrn

    Manadley entertainments owns stuff all over the world. They are not just in Vegas. The new owner is local and wants to keep the team where it is. The fans are lucky. Maybe Ellison can buy the Oakland A’s instead.

  • warriorbeil

    @armchairgm….let me ask you this why do you think theyll move out of Oakland? From what im hearing Lacob is very passionate and is a bay area guy. I really think there will not only be a jersey change but a name change. Golden state warriors of oakland LOL