Tag:Golden State Warriors
Posted on: July 15, 2010 1:39 pm
Edited on: July 15, 2010 1:42 pm

Report: Warriors sold to Lacob and Guber

Posted by Royce Young

Both Darren Rovell of CNBC.com and Matt Steinmetz of CSNBayArea.com are reporting that the Golden State Warriors have been sold to Joe Lacob, managing partner at private equity firm Kleiner Perkins, and Peter Guber, chairman of Mandalay Entertainment.

Oracle CEO Larry Ellison, who was thought to be the front-runner, obviously didn't win the bid. As to why, Rovell tweets : "When u r worth $28 BIL, what's another couple MIL? Think he miscalculated." Yeah, evidently.

The new owners aren't entirely new to the team ownership game. Lacob bought a share of the Celtics in 2006 and Guber's Mandalay Entertainment owns and operates multiple minor league baseball teams, including two affiliates of the New York Yankees

The team was reportedly sold for $450 million, topping the previous NBA high of $401 million, which is what Robert Sarver paid for the Phoenix Suns in 2004.

Chris Cohan bought  the franchise in 1995 for $119 million and as of December of last year was valued at $315 million by Forbes.

As San Jose Mercury columnist Tim Kawakami puts it , if Lacob and Guber keep the current front office, they're an immediate failure. Hard to disagree there. The Warriors are one of the most intriguing franchises because of the unwavering passion of the fanbase and consistent revenue the team generates. But for whatever reason, through hapless ownership and front office management, the team has been a massive failure over the last 15 years, save for one shining moment in the 2007 playoffs against the Mavericks.

Since now former owner Cohan bought the team 16 years ago, the Warriors have yielded the second worst record in that span, second to only the Clippers. So clearly the price wasn't about the on-court performance of the team. It's about the product and the overall franchise is in good shape with the city, the arena and the fanbase. There's really no reason the Warriors shouldn't be better. And now with Cohan out and new owners in, maybe things will turn around.

Category: NBA
Posted on: July 12, 2010 11:03 pm
Edited on: July 12, 2010 11:08 pm

Ekpe Udoh out 4-6 months with torn ligament

Posted by Matt Moore

At a workout on Independence Day, first round draft pick Ekpe Udoh of the Warriors hurt his wrist. No big deal, happens when you play organized basketball at any level.

Unfortunately, it turns out Udoh has become the token rookie that has his rookie season spoiled by injury. Monday night, the Warriors announced Udoh would have surgery to repair a torn ligament in his wrist and will miss 4-6 months.

It's a crushing blow for the rookie and the team, who need depth at forward. But more importantly, it's the yearly reminder of how much hope and excitement is throwin in the dumpster every year as a rookie season gets tossed. Missing that much time can be crushing for your development as a player and as a teammate. Udoh will miss out on much of the things you need as a rookie, and as a player coming in raw already, this is the kind of thing that can severely limit his development. Hopefully the kid can bounce back.

Tough break, Golden State.

Posted on: July 10, 2010 7:37 pm
Edited on: July 10, 2010 7:39 pm

Warriors close to being sold

Posted by Royce Young

The Oakland Tribune reports it's down to two in the Warriors sweepstakes. The Tribune says two groups have separated themselves from the pack with their bids. Current owner Chris Cohan is reportedly even more confident than before that his franchise will sell for more than $400 million.

Oracle billionaire Larry Ellison is believed to be the front-runner, but others in the discussion are 24-Hour Fitness CEO Mark Mastrov, David Bonderman, a Wall Street financer and Mandalay Entertainment chair Peter Guber.

With only two groups remaining, the Tribune says a winner could be identified as early as August.

Category: NBA
Posted on: July 2, 2010 1:58 am

Free-agency layup line: Handshake deals aplenty

All of the little free-agency stories that flow through. We'll have several of these throughout the day, updated regularly.

Lot of little things going on.

As Ken Berger reported earlier , the Raptors came to an agreement with Amir Johnson for five years at $34 million. Johnson's super-young, super-athletic, and a defensive stalwart. He can't hit the broad side of a barn with a 12-guage, but it's not like offense is what the Raptors need to improve on. Considering the other moves made today, you have to wonder if Johnson's deal wasn't one of the shrewdest.

CSN New England is reporting that the Celtics are taking a good long look at free-agent Brendan Haywood as a replacement for Kendrick Perkins, who is out till December after knee surgery. After Doc Rivers came back to the fold, the Celtics turned their attention to upgrading their roster. Turning to Haywood is an interesting idea. Haywood is an older veteran, but still younger than most of the Celtics at 30, and fits their profile at what is probably a reasonable price. Of course, the Celts' biggest priority is getting Paul Pierce re-signed, as KB informed you they've begun work on

The Nets are feeling pretty good about themselves after this morning's presentation to LeBron James. The sticking point? James will want help, and right now all of the other max guys have different ideas. Wade clearly wants to stay in Miami, Amar'e likes that idea as well, and who knows what Chris Bosh is thinking.

Marc Stein of ESPN reports the Suns are considering Hakim Warrick, which makes about as much sense as any signing you'll hear about. Warrick is a veteran with length and athleticism, with some years left in front of him. He doesn't play defense but can dunk pretty well. Sounds like just about your average Phoenix Sun, no?

Be sure to check back every thirty seconds, because that's about how long it takes for the pendulum to swing back and forth from "Dirk Nowitzki is totally looking at New York!" to "Dirk Nowitzki is going nowhere ."

ESPN's Chad Ford reports teams are still looking to try and nab Chris Paul. But the interesting aspect of this is that no one is talking about the Hornets' side. After trading Mo Peterson's rottting corpse last week to OKC, the Hornets areout of the tax. The biggest reason to trade CP3 is gone, and they have not said they'e considering trading Paul. Your crazy Chris Paul rumor of the moment? The Knicks may take a swing if they strike out on LeBron or one of the other max free agents. Good luck with that.

Rusty Simmons of the San Franciso Chronicle reports that the Warriors are in the market for a small forward after dealing Corey Maggette to the Bucks. Apparently Marvin Williams, Trevor Ariza, and Shane Battier are on the lists. Shane Battier on the Warriors is not only weird, but would be a tragedy to see his defensive prowess on the ole' Dubs.

The views expressed in this blog are solely those of the author and do not reflect the views of CBS Sports or CBSSports.com