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Cohen comes to senses, puts Warriors up for sale
By David Zizmor March 22, 2010 |
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OAKLAND--The Warriors were at home playing the Phoenix Suns at a place called Oracle Arena ironically during the game the team announced that they were for sale and one of the top candidates was Oracle CEO Larry Ellison. This is really the good news that Warriors fans have been really waiting for that team owner Chris Cohen had officially put the team up for sale on Monday night. We have been hearing for months that he was sending out feelers trying to find buyers to see who would be interested in buying the team and Ellison's name kept popping up presumably because Ellison made some sort of offer or at least put it on the table for Cohen to consider. This is official, word leaked out earlier on Monday that the Warriors had hired Galatioto Sports Partners better known as GSP. They are well known in the biz for putting together deals to purchase franchises and once their involved officially their officially on the clock that means the team is really for sure up for sale. Someone is really going to buy the team and it's known how soon but relatively soon and that is a huge deal. We have heard about the rumblings and inklings that something was about to happen but this is official. That's big news because as I have been saying all season long and as anybody who’s been following the Warriors knows the big problem with the Warriors is the management. Cohen just doesn't run a tight enough ship or just has the basketball knowledge to put a good team out on the court. That's why 13 of the last 15 years during which Cohen has run the franchise the team is stuck. The performance on the floor is terrible and it's just not fair to the great fans of the Bay Area who absolutely love the Warriors and are among the best fans in the NBA, they just haven't had anything to cheer for except for a couple of good games two years ago. The main guy everybody was talking about Larry Ellison who is Oracle's CEO and whose name is on the Arena in Oakland where the Warriors play so it would seem to be a natural fit and it certainly doesn't hurt that Ellison is the third wealthiest American worth $27 billion. If Ellison was to actually buy the Warriors he would not only become the wealthiest owner in the NBA he would become the wealthiest owner of any professional sports franchise in North America. Were not sure if this is something that's worldwide. It would be something that would be amongst the top wealthiest owners of any of the sports franchises around. Don Nelson Warrior head coach didn't expect to be around when the new owners take over, "I'm 70 years old I have one more year now and I'm going to retire, I have a year left on my contract. I'm going to fulfill my contract. What happens, happens." said Nellie. Cohen in the meantime owes the IRS around $160 million and is looking to sell the team for $300 million. The last estimated value of the franchise was $240. Ellis and Cohen may end up haggling but something will get done. David Zizmor covers Warriors basketball each week for Sportstalk Radio |
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