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Warriors To Start Narrowing List Of Suitors; Ellison Included
Published May 26, 2010
|Cohan Will Begin Narrowing List Of Warriors
Suitors To Three Or Four This Week
The sale of the Warriors is advancing as Owner Chris Cohan this week begins narrowing seven initial suitors of the franchise down to three or four qualified bidders, according to sources. The three or four bidders selected by Cohan then will be allowed access to more detailed financial information followed by another round of bidding, which should begin shortly after Memorial Day. Cohan is being advised by Galatioto Sports Partners, with the team looking to eclipse the NBA franchise sale record of $401M set in '04 when Robert Sarver bought the Suns. Oracle Corp. CEO Larry Ellison reportedly is among the bidders for the Warriors. A sale agreement could be announced by the June 24 NBA Draft, though any deal must be approved by NBA owners (John Lombardo, SportsBusiness Journal).
SOMETHING TO BUZZ ABOUT: In New Orleans, John DeShazier wrote if reports are true that Hornets minority owner Gary Chouest's bid to become the team's majority owner is on hold because he has "yet to put together an out-of-state group of minority owners that would purchase a portion of the team," then it is "just another reason to roll the eyes over the sale of the Hornets." DeShazier: "Shouldn't that minor detail have been ironed out a while ago? Or, if not a while ago, at least before anyone started publicly stating or privately leaking anything about a sale transfer? ... I'm thinking that issue shouldn't be an issue because Chouest should've known long ago whether he had people who wanted to play ball along with him or whether he'd have to play one on one" (NOLA.com, 5/25).