COHAN COMPLETES PURCHASE OF WARRIORS
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).