Reports: Larry Ellison's Purchase of Golden State Warriors Imminent
|Oracle Corporate Communications|
|Have you come to rescue us, Larry Ellison?|
Cohan, who has owned the franchise since 1995 (when he brought in Tom Gugliotta, and ... don't get us started), has been in the process of unloading the Warriors for months. The price Ellison purportedly paid to outbid 24-Hour Fitness' Mark Mastrov and others is uncertain, but his initial bid was $315 million -- and he may have gone to $400 million or more.
But they can't argue his business sense -- or, perhaps, luck. The value of the team has tripled since he purchased it. Crowds are large and paraphernalia is selling. And the W's were part of the one-third of National Basketball Association teams to actually make money last year, netting some $12 million.
Follow us on Twitter at @TheSnitchSF and @SFWeekly