Cohan Sells Golden State Warriors For $450 Million
The Golden State Warriors organization and fans are looking forward to a brighter future with new franchise owners. Joe Lacob, a part-owner of the Boston Celtics, and Peter Guber, CEO of Mandalay Entertainment, have reached a deal with Chris Cohan, Warriors owner to acquire the franchise for a record $450 million.
There were three other parties interested in the Warriors, which includes Larry Ellison- CEO of Oracle. It would be interesting to see how the Warriors will fare down the road as fans from the Bay Area have been longing for a competitive team. In the last 16 years, the Golden State Warriors only made it to the playoffs once.
Lacob and Guber topped the largest sale of an NBA franchise. This was when Robert Sarver paid to acquire the Phoenix Suns in 2004 for $401 million. Lacob was part owner of the Boston Celtics that won the 2008 NBA championship while Guber is a film producer whose credits include “Batman”, “Enemy at the Gates”, “Rainman”, “Flashdance” and “Seven Years In Tibet”.Follow us on Twitter to get free up-to-date news via tweets from the World Correspondents, or you can subscribe to us by entering your e-mail below. You can confirm your free subscription by clicking the confirmation link that will be sent to your e-mail address. Once you've confirmed, then you're good to go.