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Golden State Warriors Sold
« on: July 17, 2010, 06:35:07 PM »
Boston Celtics minority partner Joe Lacob and Mandalay Entertainment chairman Peter Gruber have won the bid to buy the NBA's Golden State Warriors for a record price, CNBC reported.

An article posted on CNBC.com on Thursday put the price at $450 million, surpassing the previous record paid for an NBA franchise - $401 million paid by Robert Sarver for the Phoenix Suns in 2004.

Lacob and Guber beat out Oracle chief Larry Ellison, who had been considered the favorite to buy the team from Chris Cohan.

Cohan bought the club in 1995 for $119 million. The franchise was valued at $315 million by Forbes in December of last year.

The Warriors have made the playoffs only once since Cohan bought the team.

In 2007 they became the first eighth-seeded team to beat a top seed in a best-of-seven series, but fell in the next round. - Agence France Presse

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