What did Lacob do? On the advice of then-NBA Commissioner David Stern, he bought into his hometown Boston Celtics as a minority partner and built relationships with league honchos. “When the Warriors came up in 2010, I had an advantage, ironically — maybe my only advantage — over Larry Ellison, which was I knew everybody in the league really well,” said Lacob, who partnered with Peter Guber to buy the Warriors in 2010, five years after MLB denied him, for $450 million. The team is now valued by Forbes at $5.6 billion.
Tag: Larry Ellison
A number of potential ownership groups …
A number of potential ownership groups have been rumored to be interested in pursuing the Trail Blazers. Among the names that I have heard as possible majority owners: Oracle Corporation co-founder Larry Ellison, philanthropist MacKenzie Scott and Laurene Powell-Jobs. Ellison has unsuccessfully attempted to buy NBA teams on three occasions. Scott is the ex-wife of Amazon founder Jeff Bezos. Powell-Jobs, the widow of Apple co-founder Steve Jobs, is an executive and businesswoman.
This day in Golden State history: Joe Lacob and Peter Guber agree to purchase the Warriors from Chris Cohan
10 years ago, Joe Lacob and Peter Guber agreed to purchase the Golden State Warriors from Chris Cohan for $450 million.
Stephen Curry, Klay Thompson, Draymond Green and Kevin Durant should rightfully be in line for most of the credit for the Golden State Warriors’ rise to perennial playoff contenders. However, the arrival of a new ownership group can change the outlook of a struggling franchise.
After a bevy of unsuccessful rebuilds over his tenure, owner Chris Cohan aimed to sell the Warriors in 2010. All signs pointed to Oracle’s billionaire owner Larry Ellison purchasing the Bay Area basketball team.
However, when the check was signed, it was Joe Lacob and Peter Guber walking away with the keys to the Golden State Warriors.
On July 15, 2010, Cohan sold the majority ownership of the Warriors to Lacob and Guber for the price of $450 million. A decade later, the rest is history.
Under the eye of Lacob and Guber, the Warriors hired Bob Myers, Jerry West and Steve Kerr to usher in the dynasty era of Curry, Thompson and Green.
Over the past 10 years with Lacob and Guber, the Warriors have been apart of five consecutive Finals appearances, three NBA championships, multiple All-Star appearances and Most Valuable Player awards. In 2019, the pair of Lacob and Guber moved the Warriors home from Oakland to a brand new arena across the bay in San Francisco.
In 2020, Lacob, Guber and the Warriors will take on a new task.
For the first time since 2002, the Golden State Warriors are slated to make a selection in the top five picks of the NBA Draft. After a league-worst 15-50 record, how Golden State handles the draft will be a vital first step in their return to the top of the playoffs.
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When Joe Lacob and Peter Guber paid …
When Joe Lacob and Peter Guber paid $450 million for the Golden State Warriors in 2010, the sports world was left scratching its head. The first major team purchase for the venture capitalist and Hollywood producer, who outbid billionaire Larry Ellison, then the world’s sixth-richest person, set a record price for an NBA franchise. It was hardly anyone’s idea of a crown jewel. Forbes valued the team at $315 million seven months earlier, No. 18 in the league. The team had been to the playoffs just once in the prior 15 years and had inconsistent attendance at its 44-year-old arena. No one is questioning the deal now. Today the Warriors are valued at $3.5 billion, the third most valuable team in the NBA behind the New York Knicks ($4 billion) and Los Angeles Lakers ($3.7 billion), a ten-fold appreciation since 2009 that has proven to be the decade’s best team investment in all the major sports leagues, including the NFL, NBA, MLB, NHL and international soccer, on a percentage basis.