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COHAN COMPLETES PURCHASE OF WARRIORS
Published October 11, 1994
Cable TV "mogul" President Christopher Cohan, 44, purchased sole ownership of the Warriors for what "appears to be a cost of $116M-$126M, which would be one of the highest prices paid for an NBA franchise." Cohan became the Warriors' largest single stockholder by buying 25% of the team for $21M in '92, but had filed a lawsuit against Warriors Chair Jim Fitzgerald and President Dan Finnane claiming that when he bought the team, they had an understanding he would eventually become full owner. Hearings were scheduled to begin this week, but the unexpected sale has settled the dispute (Ric Bucher, SAN JOSE MERCURY NEWS, 10/10). The AP is reporting a price tag of $95M-$105M (ATLANTA CONSTITUTION, 10/11). Cohan was introduced to the team on Monday and reassured players that he didn't plan to make any immediate changes (Ric Bucher, SAN JOSE MERCURY NEWS, 10/11). SEARCH FOR A NEW HOME OVER? Cohan said he has no plans to move the team out of the area, as the old ownership was believed to be interested in moving the team to downtown San Francisco. The Warriors' current home, the Oakland-Alameda County Coliseum, is seen as too small, and the team has been exploring other options (Mult., 10/10).