Friday, July 16, 2010

Warriors Sold For 450-Large, So Much For NBA Owner Poverty

Now, if this doesn't fly in the face of the NBA owners talking lock-out due to poverty, the HQ doesn't know what does, really...

The league came out recently saying its member franchise lost close to $400-million last season- that came direct from Commissioner Stern's mouth...

So, what happens when the Golden State Warriors are coming out to play...???

A $450-million sale, and it wasn't even to Oracle's Larry Ellison. Ellison, apparently when asked, said he put together a higher bid, but owner-nutcake Chris Cohan went with Boston Celtics minority partner Joe Lacob and Mandalay Entertainment CEO Peter Guber instead.

The sale price breaks the record of $401 million set when Robert Sarver bought the Phoenix Suns in 2004.

Lacob is also the managing director and partner at private equity firm Kleiner Perkins. Gotta enjoy those private equity firms that seem to create money out of thin air...

KPIX-TV/CBS5's Kim Coyle called Lacob in Europe, and woke him up from something...
video

Ellison will now focus his time on figuring out whether or not the next America's Cup will be mono-hull or multi-hull...

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