The Bay Area "buzz" is that Warriors Owner Chris Cohan,
"saddled with major financial obligations and rocked by the
lack of support by fans, is quietly exploring the idea of
selling the team sometime in the next two years," according
to C.W. Nevius of the S.F. CHRONICLE. There is "even a
scenario" that would have the MLB Giants' ownership group
"taking over and using the team as an East Bay presence to
help attract baseball fans" (S.F. CHRONICLE, 11/20).
WARRIORS REFUTE RUMORS: Nevius adds that the Warriors
"insist there is nothing to" the sale rumors. Warriors
General Counsel Robin Baggett: "The concept of selling the
team has never been discussed. As far as losing money and
not operating in the black, that is inaccurate." Baggett
said that "there has always been a misconception about"
Cohan's financing, and that ever since he bought the team
"there have been suggestions that Cohan borrowed heavily for
the money, and overpaid wildly." More Baggett: "[Cohan]
bought the team for $119 million, not $140 million. ... He
is not heavily leveraged." Nevius adds that "there are
clearly some problems, which go beyond the woeful product on
the floor," and that the league office is "concerned about
the way the franchise is floundering." Baggett also added
that sales of the team's 72 luxury boxes have been "fair. I
wouldn't put it at good." But Nevius reports that "others
are even less optimistic, doubting that the team has sold as
many as 20 boxes" (S.F. CHRONICLE, 11/20).
