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View Full Version : Golden State Warriors officially for SALE!!!!!!!!!!!!



asandhu23
03-22-2010, 05:23 PM
OAKLAND, Calif. (AP) -- The Golden State Warriors are for sale -- and Oracle Corp. CEO Larry Ellison has already made it well known he wants to buy the team.

The Warriors said Monday that they have hired Galatioto Sports Partners, or GSP, to handle selling the franchise and serve as their exclusive financial adviser throughout the process.

For the basketball-crazy East Bay, this news couldn't have come soon enough. Fans know what the atmosphere can be for this franchise: electric, just like it was for the team's rare playoff run in 2007.

Supporters still turn out by the thousands for Golden State's games even if the performances have often been rather depressing.

While current owner Chris Cohan hadn't given any indication he planned to put the franchise up for sale right away, there had been thinking that he would certainly listen if an incredible offer was made.

Ellison told financial analysts in late January he was trying to buy the team but said, "unfortunately you can't have a hostile takeover of a basketball team."

Also earlier in January, Ellison sat courtside to watch the Warriors play LeBron James and the Cleveland Cavaliers in the building boasting his company's name -- Oracle Arena.

Ellison already owns BMW Oracle Racing, the American sailing syndicate that won the America's Cup off Valencia, Spain, last month.

At the Cavs-Warriors game, one fan in the upper area of the lower level held a sign reading, "Dear Larry Ellison, please buy this team. Thanks, the Warriors fans."

The Warriors said they wouldn't comment further until an agreement or transaction with a buyer is reached.

Cohan clearly decided the timing was finally right to part ways with the Warriors, who were second-to-last in the powerful Western Conference at 19-50 and had lost eight of 10 games heading into Monday night's home matchup against the Phoenix Suns.

Cohan has had financial problems, too. Earlier this month, the Warriors announced across-the-board discounts for season ticket holders for next season.

In 2007, the Internal Revenue Service said Cohan owed more than $160 million in back income taxes and penalties from the 1998 sale of a cable television company.

There are many who believe Golden State has been mismanaged for years and that new leadership is long overdue for a club that has reached the playoffs only once since 1994.

Last fall, disgruntled swingman Stephen Jackson made it publicly known he wanted out and eventually got his wish in a November trade to Charlotte.

Jackson was a key figure in the Warriors ending their 12-year playoff drought in 2007, just a few months after he arrived in the Bay Area in a trade with the Pacers.

"As you know," Jackson said, "this organization's unpredictable. Very unpredictable."

There was also the strangely timed departure of Chris Mullin last spring. Mullin, the beloved former player turned top executive, apparently had lost his authority months before the team parted ways with him in May.

The constant drama surrounding this organization apparently caused other players to question whether they wanted to play for owner Cohan, including star player Monta Ellis.

The Warriors have shown positive signs in recent years but this season has been rough all around -- from injuries to long losing streaks. The 2008 squad barely missed the postseason despite winning 48 games, most by a non-playoff NBA team in a quarter-century.

Team president Robert Rowell said he's committed to fielding a competitive team. Coach Don Nelson and general manager Larry Riley have hinted their young players will be all the better with a year's more experience.

Early in his tenure as controlling owner, Cohan sued Nelson when he accepted a job with the New York Knicks after leaving Golden State in February 1995.

"It was never bitter," Nelson said after he was hired back in August 2006. "I had some of Chris' money, and he wanted it. (The dispute) ended with that, and it's been a great relationship ever since."



http://www.nba.com/2010/news/03/22/warriors.sale.ap/index.html?ls=iref:nbahpt2

:rock::cheers::hi5::clap::nod::worthy::laugh: :silly: :box::love: :cheer::injury::drunk::jumpy:

North Yorker
03-22-2010, 05:28 PM
The first time I read it I thought it said Fire Sale:sigh:

billy17
03-22-2010, 05:29 PM
I hope they completely rebuild this summer.

Keep Curry and Morrow and just start over, trade for a bunch of picks..

That would be awesome if Ellison bought them. Im a sailor and follow sailing and hes done a lot for BMW Oracle.

GodsSon
03-22-2010, 05:31 PM
Does anyone even care about the Warriors? :hide: lol

billy17
03-22-2010, 05:33 PM
Will anyone care about the Raptors once Bosh is gone?

Id say people care about one of the most entertaining teams in the league.

asandhu23
03-22-2010, 05:37 PM
We Warriors fans are so effing excited!!!!

THE 12TH MAN
03-22-2010, 05:42 PM
Does anyone even care about the Warriors? :hide: lol

Coming from a Raptors fan?? :facepalm:

GodsSon
03-22-2010, 05:45 PM
Will anyone care about the Raptors once Bosh is gone?

Id say people care about one of the most entertaining teams in the league.


Coming from a Raptors fan??:facepalm:

Both of you need to learn what a joke is when you see one

cali72888
03-22-2010, 05:47 PM
YESSSSSSSSSSSSSSSSSSSSS YEAAAAAASSSSSSSSSSSSSSSSSSSS THANK GOD OUT WITH COHAN!!!!!!!!!:clap::clap::clap::clap::clap::clap: :clap::clap::):):):):):D:D:D:D:D:D:clap::clap::cla p::clap::clap::clap:

Sly Guy
03-22-2010, 05:48 PM
I'd buy them....
As long as it comes with an contract to Nelly as GM and Head Coach for an infinite number of years.

THE 12TH MAN
03-22-2010, 05:50 PM
Both of you need to learn what a joke is when you see one

Ok, haha

Philly Hammer
03-22-2010, 05:54 PM
Will anyone care about the Raptors once Bosh is gone?
Id say people care about one of the most entertaining teams in the league.Nice comeback lol.

asandhu23
03-22-2010, 05:56 PM
Nice comeback lol.

Hey do you know any Philadelphia Warriors fans?

Philly Hammer
03-22-2010, 05:56 PM
I officially will put in my bid for 10 dollars that should be enough to buy the Warriors.

CityofTreez
03-22-2010, 05:59 PM
Great News. Being located where I am, I tend to root for the Warriors, whenever they're not plsying the Kings!

Now, they are legit to watch now since Cohan is going to walk the plank!

asandhu23
03-22-2010, 06:02 PM
Great News. Being located where I am, I tend to root for the Warriors, whenever they're not plsying the Kings!

Now, they are legit to watch now since Cohan is going to walk the plank!

and I root for Kings whenever they are not playing us.

Philly Hammer
03-22-2010, 06:03 PM
Hey do you know any Philadelphia Warriors fans?A few they say that Arena there in the bay be rockin.

asandhu23
03-22-2010, 06:03 PM
I officially will put in my bid for 10 dollars that should be enough to buy the Warriors.

can you outbid Larry Ellison?

Niro
03-22-2010, 06:07 PM
great great news

Philly Hammer
03-22-2010, 06:07 PM
can you outbid Larry Ellison?i'm gonna try

tredigs
03-22-2010, 06:08 PM
This is HUGE. I've been looking to see this headline, along with Ellison's name as the potential buyer for about 2 years now. Ellison is one of the richest men in the world, and if he buys the team, you are going to see an immediate turnaround in GS. Luxury tax doesn't mean much to an owner when you're worth 22.5 billion! Not to mention he loves the Warriors and genuinely wants to see them become a successful franchise?? This could not be any better.

GSRaider
03-22-2010, 06:14 PM
great news!!!:clap:

warrior/basketball fans deserve better ownership

dayreezy
03-22-2010, 06:15 PM
if they cant find a buyer i will sell blood, sperm, and teeth to the tooth fairy to buy this team for myself and give us fans what we deserve... $1 hot dogs, $2 beers, cheaper parking, hotter warrior girls, THUNDER MASCOT WILL BE BACK, and finally a playoff contending team.. thank you

asandhu23
03-22-2010, 06:17 PM
if they cant find a buyer i will sell blood, sperm, and teeth to the tooth fairy to buy this team for myself and give us fans what we deserve... $1 hot dogs, $2 beers, cheaper parking, hotter warrior girls, THUNDER MASCOT WILL BE BACK, and finally a playoff contending team.. thank you

Lol Ellison has enough money to buy Hooters. That should help. :D

mp3
03-22-2010, 06:20 PM
:clap::clap::clap::clap::clap::clap::clap::clap::c lap::clap::clap::clap::clap::clap::clap::clap::cla p::clap::clap::clap::clap::clap::clap::clap::clap: :clap::clap::clap::clap::clap::clap::clap::clap::c lap::clap::clap::clap::clap::clap::clap::clap::cla p::clap::clap::clap::clap::clap::clap::clap::clap: :clap::clap::clap::clap::clap::clap::clap::clap::c lap::clap::clap::clap::clap::clap::clap::clap::cla p::clap::clap::clap::clap::clap::clap::clap::clap: :clap::clap::clap::clap::clap::clap::clap:

Public Enemy #1
03-22-2010, 06:24 PM
Its about damn time

Giants-49ers-Ws
03-22-2010, 06:35 PM
great news for the Ws...finally we can start winning

arkanian215
03-22-2010, 06:38 PM
http://www.nba.com/2010/news/03/22/warriors.sale.ap/index.html?ls=iref:nbahpt2

:rock::cheers::hi5::clap::nod::worthy::laugh: :silly: :box::love: :cheer::injury::drunk::jumpy:

:clap: congrats :D i know it's really thrilling to get a new owner who will be dedicated to winning.

as a fantasy owner...out with nelson.

SDBearsFan
03-22-2010, 06:38 PM
I didn't know a team could be ON sale...

asandhu23
03-22-2010, 06:41 PM
I didn't know a team could be ON sale...

eff that. its a time to celebrate.

willthethrill22
03-22-2010, 06:54 PM
about ****in time

Thatruth32
03-22-2010, 06:59 PM
its xmas time out here in the bay... i know every team says o we have the best fans or this and that.. i really think that the warrior fans are the best in the nba.. we sell out day after day year after year losing season after losing season.... then u give us one year in 07 and we blew the roof off.. lots of writters said i have been to superbowls masters nba finals nascar whatever and this was by far the best sporting event i have ever been too... and we are talking just winning one round of the playoffs.. think if we had rings or players like Mk magic kobe lebron whatever...

my point is we are some of the best fans in the nba if not the best with a crappy product think how much pub we would get if we finally had a winning team to support..... see out here niner fans hater raiders and a's fans hate giants fans so on and so on.. but this is the one team.. (besides the sharks.. who likes hockey) lol that we can all chill and get drunk and support together lol

JNA17
03-22-2010, 07:41 PM
sweet! how much!? :D

Hey Man
03-22-2010, 09:26 PM
prolly around $300,000,000-$350,000,000

1-800-STFU
03-22-2010, 10:20 PM
Who would want to buy this garbage team?

asandhu23
03-22-2010, 10:24 PM
Who would want to buy this garbage team?

Larry ****in Ellison and the founder of 24 hour fitness.


I’ve been told by multiple people that $400 million is actually low in regards to what the Warriors want. Banking on the fact that this is the fifth-largest market and it’s really unknown how big the Warriors could be if they ever win, Cohan is looking at possibly getting upwards of $500 million. Sounds crazy, right? Well, I keep hearing he’s going to at least come close. That would require Ellison upping his price, which I have always heard at $350 or below (though hasn’t made an official offer, the Warriors once contended).

That seems ridiculous, considering a few things: the economy; they are 31 games under .500 and up against the cap; they have been the postseason once in 15 years; Forbes just placed the value of the franchise at $315 million back in December, before the Warriors’ season went completely awry; it is known Cohan wants to say, which figures to take leverage away from him; it is going to take a lot of work to turn this thing around (lot of firings and hirings, and buyouts and image building).

With that said, there is definitely confidence that Cohan – who bought the team for $119 million in 1995 – will cash out at some fairly surprising number.

I’m told 24-Hour Fitness founder Mark Mastrov has thrown his name in the mix. My colleague, Tim Kawakami, who was all over this a long time ago, said there are as many as six interested parties. That helps Cohan’s cause tremendously. All he needs is a bidding war to drive the price up. Just the hint of other buyers figures to drive the starting price up. (If you want to buy the owners, how does knowing Ellison is the front-runner influence your initial offer.

http://www.ibabuzz.com/warriors/2010/03/22/warriors-could-be-sold-soon-and-for-record-price/

D-Train#35
03-22-2010, 10:24 PM
I wouldn't wish Chris Cohan's ownership on my greatest enemies.

D-Train#35
03-22-2010, 10:25 PM
Who would want to buy this garbage team?

It's garbage because of the old owner, duh. Thats why its big news.

Toenail Clipper
03-22-2010, 10:27 PM
:clap:

JWO35
03-22-2010, 10:53 PM
I got $7.50 on me right now, I think that's a fair price

tredigs
03-22-2010, 11:03 PM
I got $7.50 on me right now, I think that's a fair price

Coming from a Pistons and Lions fan. ''Priceless''.

Can't wait for a team without such a ridiculous amount of injuries and a real owner to finally take over this franchise. Going to make a lot of people feel like fools.

IversonIsKrazy
03-22-2010, 11:09 PM
Damn, i wish Aquilini was interested buying it for Vancouver :)

But I like the future of the Warriors with Curry, Morrow, and Biedrins. They got great fans, and deserve to finally be in good hands.

championships
03-22-2010, 11:14 PM
I'll give them atleast a grand for them.

MattColby
03-22-2010, 11:15 PM
Sweet the Seattle Warriors.

Ray_R
03-22-2010, 11:18 PM
prolly around $300,000,000-$350,000,000

I get my allowance this weekend so i should have enough.

ryder78c
03-22-2010, 11:22 PM
Sweet the Seattle Warriors.

I was thinkin the same thing and make hersey Hawkins as Coach Fu - ck Don Nelson....

DONT CALI GOT ENOUGH TEAMS move clippers to the bay area move the warriors to seattle move raptors to Alaska and call them the Huskys

BILL GATES BUY A TEAM YOU DAMN NERD!

As yukmouth likes to say I got 5 on it .........to buy the warriors hahaaa

JWO35
03-22-2010, 11:22 PM
Coming from a Pistons and Lions fan. ''Priceless''.

Can't wait for a team without such a ridiculous amount of injuries and a real owner to finally take over this franchise. Going to make a lot of people feel like fools.


lol saw it coming...

tredigs
03-22-2010, 11:26 PM
lol saw it coming...

Well my friend, don't throw stones when you live in a glass stadium.

robbnen#31
03-22-2010, 11:38 PM
Here comes the San Francisco Warriors

The_Mac22
03-22-2010, 11:40 PM
GREAT news. :D

avrpatsfan
03-22-2010, 11:48 PM
I officially will put in my bid for 10 dollars that should be enough to buy the Warriors.

I raise you 20 dollars. Does anybody bid 20 dollars?

goldenstater
03-22-2010, 11:51 PM
Yeeeeeeeeesssssssssss!!!!!!!!!!!!!

goldenstater
03-22-2010, 11:58 PM
I was thinkin the same thing and make hersey Hawkins as Coach Fu - ck Don Nelson....

DONT CALI GOT ENOUGH TEAMS move clippers to the bay area move the warriors to seattle move raptors to Alaska and call them the Huskys

BILL GATES BUY A TEAM YOU DAMN NERD!

As yukmouth likes to say I got 5 on it .........to buy the warriors hahaaa

The only differance is we show up still and the bay is a way bigger market than Seattle! Seattle's lost there team for a reason.

mavwar53
03-23-2010, 12:03 AM
Well the warriors should definitely go for much more than the bobcats

asandhu23
03-23-2010, 01:57 AM
Well the warriors should definitely go for much more than the bobcats

indeed.

CraigInSanJose
03-23-2010, 02:32 AM
Yeah but hopefully Larry is willing to cough that up. He's got it, but he's a stubborn guy.

Angel2Maverick
03-23-2010, 02:49 AM
I raise you 20 dollars. Does anybody bid 20 dollars?

I raise you 21 dollars and one cent :clap: would be suprised if anybody would go higher than that!

Alleyeson49
03-23-2010, 03:12 AM
This is the best news I've heard regarding the Warriors in a long, long, long time :clap:. Please let it be so...It would be the greatest moment in Bay Area basketball since the Warriors stomping of the Mavericks in Game 6 of the 2007 playoffs (a game I was tremendously lucky to be at). Wow, that seems so long ago after writing it down.

If this sale goes through to Larry Ellison, first order of business has to be ridding ourselves of the ridiculous "forget defense let's just run ourselves to death" coaching style of Don Nelson. Also, while we're on the subject of removing cancers from the team, Rowell and Riley can see the door as well. A clean slate, with a well-rounded coach and solid management should make this team a contender again rather quickly. Let's all rejoice Warriors fans when this sale is complete and our 16 years of hell (minus one) is over!!!

:hi5::cheers::rock::up::nod::bow::dance::jumpy::cl ap::)

ryder78c
03-23-2010, 03:32 AM
The only differance is we show up still and the bay is a way bigger market than Seattle! Seattle's lost there team for a reason.

sounds like you dont know very much about the sonics we lost them because a dumb owner wanted to move to his home town...R ****

goldenstater
03-23-2010, 10:56 AM
sounds like you dont know very much about the sonics we lost them because a dumb owner wanted to move to his home town...R ****

Agreed about that,which was lame cause I think Seattle is a great town. But that does not change the fact that you guys were not showing up and losing money. And can't compete with the bay area media market which the Warriors have all to the self. It would be stupid to leave that esp when u have a fan base that has the 12th best attendance with thebthird worst record( no one else can say that). So no they are not going to Seattle sorry.

asandhu23
03-23-2010, 12:54 PM
Agreed about that,which was lame cause I think Seattle is a great town. But that does not change the fact that you guys were not showing up and losing money. And can't compete with the bay area media market which the Warriors have all to the self. It would be stupid to leave that esp when u have a fan base that has the 12th best attendance with thebthird worst record( no one else can say that). So no they are not going to Seattle sorry.

BEST FANS COME FROM THE BAY AREA. Raiders, Niners, Warriors, Sharks, Giants, A's ( am i forgetting a team? )

asandhu23
03-23-2010, 07:02 PM
Update on this:


Given the large dollars and anticipated posturing involved, can the Warriors’ sale possibly be finalized by mid-July?

“I’d be stunned if this gets done (by then),” said one well-connected source.

Sure, there might be a prospective/likely buyer identified by then–if it’s quick, it’ll almost certainly be Larry Ellison, the man Chris Cohan is trying to lure into a $400M+ valuing.

But there’s still a process, and it usually isn’t a lightning-quick one.

Ellison’s last bid was with a $315M valuation. That was eight or nine months ago, and Ellison apparently hasn’t moved since then.

So let’s presume that the hiring of a firm to auction the team might not necesarily put Ellison into warp speed, unless there are other groups ready to blow past the $315M number. Maybe there are.

But even if there are several large bids, you have to figure there will be negotiations, delays, stare-downs, bluffs and all sorts of mega-poker performances in this situation.

We’re nearing the end of March. The “book”–written up sales proposal by Galatioto Sports Parnters–hasn’t even been composed yet. Bidders are emerging, but nothing formal is close to beginning.

Again: For this process to be finalized in three months… well,that’s pushing it. Cohan is not known as a “push it” kind of guy, if that means getting a nickel less than he wants.

Hmm. Let’s run through the timetable of known NBA dates…

-The NBA Draft is June 24, and the Warriors should have a top-5 pick.

-The player movement/free-agency period starts July 8, and teams can start talking to free agents July 1.

-The best coaching candidates probably will be gobbled up by mid-May.

And who will be calling the shots for the Warriors during this whole period–an incredibly important period, when decisions have to be made about Don Nelson, Monta Ellis, Anthony Randolph and Andris Biedrins?

You guessed it: Robert Rowell, Larry Riley and Don Nelson. The ol’ gang again!

Even if a likely buyer is identified, he couldn’t make personnel decisions or fire execs (even somebody who has committed 25 fire-able offenses) or hire anybody until he’s approved by the NBA.

So yep, the Warriors are likely to be in a holding pattern right in the middle of the movement period.

That would be strange. New Jersey went through a similar situation for most of this season–after the announcement that the team was for sale, then the tentative purchase, then the NBA Board of Governors approval–so it can be done.

But look at the Nets’ record. And that’s with an established front office, Rod Thorn and Kiki Vandeweghe.

What will Rowell, Riley and Nelson do during the limbo period?

My guess: They’ll have a decent idea about the prospective new owner and they will probably be under orders by Cohan to make sure they don’t do anything that worsens the financial situation.

That means nothing too creative, and probably no major deals. That probably means losing the chance to make some important changes this off-season.

But it also gives the new owner the chance to make his own decisions on Ellis, Biedrins and the rest.

* Earlier, I called a top NBA executive to discussing W’s sale options, which he was curious about, too.

But before we could get to the meaty stuff, the executive had to interject: “Tell me–why in the hell did the Warriors waive Raja Bell?”

He really wanted to know and his exasperation was palpable.

I told the exec that the Warriors are short-handed and figured they’d keep Devean George’s 6 minutes a game, and they had cut somebody else because Reggie Williams had to get a guaranteed deal.

Bell wasn’t playing and wasn’t going to play, so that’s who they dumped. I always feel dumb trying to explain dumb Warriors moves to other teams, but there ya go. I did it.

But after talking to the exec, this is what I gleaned from his thinking, which is definitely shared among NBA circles…

-Why would the Warriors wait to do this after March 1, when Bell is no longer eligible for a playoff roster?

-Sounds like W’s could’ve traded him (for something like a pair of 2s–not much, but still of some value) at the deadline, but turned down any offer because they decided they had to keep Bell around.

At least that’s what they told other teams.

“I thought they loved him and wanted him,” the exec said.

-Or at the least, the Warriors could’ve waived Bell before March 1 so he could be playoff-eligible.

That doesn’t mean Bell definitely would’ve been a rotation player on a playoff team… but I believe some teams would’ve strongly considered scooping him up as perimeter-defense insurance.

Bell recently said he probably wouldn’t have been available for the playoffs, but there’s no certainty in that and it’s moot, since he never got the chance, anyway.

-But in one of their traditional panics, because they needed George in this great thundering stretch drive, the Warriors waived Bell AFTER March 1.

By waiving Bell, the W’s also burned up his “Bird rights,” which might’ve been valuable in a sign-and-trade situation this summer.

Teams interested in acquiring him were also interested in Bell’s “Bird rights,” also for sign-and-trade purposes of their own in this epic summer of LeBron, but waiving Bell means his “Bird rights” go away.

-In summary, the Warriors didn’t get a draft pick or two for Bell at the trade deadline because they decided they couldn’t lose him, then they didn’t waive him in time to make him playoff-eligible, then they waived him anyway.

But they’re desperate to re-sign him in July and might use some of their valuable mid-level exception to do it.

Because they have nowhere else to turn. Because of repeated dumb stuff like this.

http://blogs.mercurynews.com/kawakami/2010/03/23/warriors-update-sale-unlikely-to-be-finalized-by-july-so-its-rowell-riley-nelson-for-a-while-longer/