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WARRIORS SALE ON HOLD AS NBA CONDUCTS BACKGROUND CHECKS
Published January 4, 1995
The sale of the Warriors will be delayed at least two weeks to "allow the NBA to complete its investigation" into prospective owner Christopher Cohan's financial background. Cohan, a cable TV "magnate," had been scheduled to take over the team today from the current group, led by Jim Fitzgerald and team President Dan Finnane. Finnane said the delay "should not be construed as a indication that Cohan does not have the financial backing to pay the $138M price tag." Cohan reportedly "structured the financing of the purchase so that it involves a variety of business interests," and the NBA, not "wanting its teams connected to anyone of ill repute," must check on everyone associated with those business interests. Finnane: "I'd bet heavily on the deal being approved. It is just a matter of finishing up the investigation" (Ric Bucher, SAN JOSE MERCURY NEWS, 1/4).