Reports: Larry Ellison's Purchase of Golden State Warriors Imminent

Categories: Business, Sports
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Oracle Corporate Communications
Have you come to rescue us, Larry Ellison?
Larry Ellison, the richer-than-Croesus CEO of Oracle and yachting enthusiast, is reportedly in the final stages of purchasing the Golden State Warriors. The move would likely be greeted with glee by fans of the NBA franchise, who hold current owner Chris Cohan in about the same esteem San Franciscans feel for Dick Cheney.

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.

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The Warriors have only made the playoffs once during Cohan's long tenure -- and, yes, that's the worst performance in the league during that period. Fans will find fault in the owner's personnel moves, demeanor, and even his sartorial sense.

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.

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