Golden State Warriors Sold For $450 Million To Investment Group Headed By Joe Lacob

The Golden State Warriors have finally been sold, concluding an arduous negotiation process that sometimes appeared interminable. Would Chris Cohan ever actually sell the Warriors to someone?

After the past few months, it seemed like a fair question.

But on Thursday, we got the answer: Yes he'll sell, just not to the buyer we expected.

While Bay-Area billionaire Larry Ellison was the presumed front-runner to take over the franchise, CNBC's Darren Rovell reports that Joe Lacob, managing partner of a Private Equity firm, and Peter Guber, chairman of Mandalay Entertainment, emerged at the last second to steal away the Warriors.

The pair will pay an NBA-record $450 million for the team, netting Chris Cohan a significant profit after purchasing the Warriors for $119 million. That's probably the only unpleasant aspect of this news to Warriors fans, as Cohan's tenure as owner has been marred by complete disarray, lack of vision, outright apathy on occasion, and most of all, losing. With new ownership, Warriors fans hope that change is on the way, and a bright future lies ahead.

We'll have more on this story as news trickles out, but in the meantime, check out SB Nation Bay Area, and SB Nation's excellent Warriors blog, Golden State of Mind for further reaction.

X
Log In Sign Up

forgot?
Log In Sign Up

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

By becoming a registered user, you are also agreeing to our Terms and confirming that you have read our Privacy Policy.

Join SBNation.com

You must be a member of SBNation.com to participate.

We have our own Community Guidelines at SBNation.com. You should read them.

Join SBNation.com

You must be a member of SBNation.com to participate.

We have our own Community Guidelines at SBNation.com. You should read them.

Spinner.vc97ec6e

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.