Cohan Puts Warriors Up For Sale
Jul 09, 2009 11:31 AM EST
Chris Cohan, owner of the Golden State Warriors, is interested in selling the franchise, according to sources.
The unconnected sources confirmed Cohan was in negotiations with Oracle billionaire Larry Ellison recently. But Cohan and Ellison’s group couldn’t reach an agreement. Cohan is “still interested” in selling the team. One source said “he is tired of losing” and another said he is “looking to cash out.”
http://www.realgm.com/src_wiretap/2/
By Marcus Thompson
Wednesday, July 8th, 2009 at 2:25 pm in Uncategorized.
UPDATE: I forgot to add the Amare trade is still possible. A team source said the reports of the deal overstated how close the sides were, meaning no deal was ever official, also meaning the Warriors never reneged on sending the No. 7. But I am told the deal is still possible. Yes, Curry is still off the table.
My guess is it will happen, if at all, towards the end of this month, maybe even August. Phoenix will realize this is the best offer it can get.
I have learned from a few of sources that owner Chris Cohan IS INDEED interested in selling the franchise, which TK first reported on Friday.
The unconnected sources confirmed Cohan was in negotiations with Oracle billionaire Larry Ellison recently. But Cohan and Ellison’s group couldn’t reach an agreement. Cohan is “still interested” in selling the team. One source said “he is tired of losing” and another said he is “looking to cash out.”
But he isn’t desperate. According to one of the sources, potential suitors have tried to buy the Warriors at a deal price, trying to take advantage of the Warriors cellar-status, Cohan’s reported money problems and the spiraling economy. One would think Cohan would be eager to strike a deal now, since many expect the economy to hit the NBA harder in the immediate future.
But Cohan isn’t just giving away the team, according to a source.
“If he gets the right offer,” one source said, “I think he would sell the team right now. But he’s not giving it away for pennies.”
Cohan’s interest is only the start of the process, which can take a while. If other potential suitors emerge — the minority owners could pull together and buyout Cohan — and an agreement is reached, the paper work alone would probably prevent the transition from happening before the coming season ends. The NBA would have to approve any sale.
Certainly, Cohan’s desire to sell the team will have an impact on the product, even if it’s just the possibility of major change looming over the franchise. It may make the Warriors more willing to take risks, to speed up the renovation and make this team a winner as fast as possible (a winning team sells better than a losing one). It may put the Warriors in cost-cutting mode (no use dumping money into something you are trying to get rid of). It will likely make for some nervous employees, considering a new owner likely means new brain trust.
Rowell: "The Warriors Are Not For Sale"
Jul 11, 2009 9:45 AM EST
Warriors president Robert Rowell is denying a report that majority owner Chris Cohan is looking to sell the team.
"The team is not for sale," said Rowell on Friday. "I do not know how I can be any clearer than that."
The initial report claimed that Cohan has had negotiations with Oracle billionaire Larry Ellison and is seeking other suitors for the club.
"There has not been an offer and there has not been an ask," Rowell said. "There is not a sports team in the Bay Area that does not have discussions about the future and what is going to happen, but it is speculative to report that something could happen in one or two years.
"Anything could or could not happen in the next two years.
I Guess I could have said 10 Mil 100 Mil, but the reality is no one here has one mil to spare to buy a team so it was just made in jest
not that matters, update the team is not for sale
Jul 09, 2009 11:31 AM EST
Chris Cohan, owner of the Golden State Warriors, is interested in selling the franchise, according to sources.
The unconnected sources confirmed Cohan was in negotiations with Oracle billionaire Larry Ellison recently. But Cohan and Ellison’s group couldn’t reach an agreement. Cohan is “still interested” in selling the team. One source said “he is tired of losing” and another said he is “looking to cash out.”
http://www.realgm.com/src_wiretap/2/
By Marcus Thompson
Wednesday, July 8th, 2009 at 2:25 pm in Uncategorized.
UPDATE: I forgot to add the Amare trade is still possible. A team source said the reports of the deal overstated how close the sides were, meaning no deal was ever official, also meaning the Warriors never reneged on sending the No. 7. But I am told the deal is still possible. Yes, Curry is still off the table.
My guess is it will happen, if at all, towards the end of this month, maybe even August. Phoenix will realize this is the best offer it can get.
I have learned from a few of sources that owner Chris Cohan IS INDEED interested in selling the franchise, which TK first reported on Friday.
The unconnected sources confirmed Cohan was in negotiations with Oracle billionaire Larry Ellison recently. But Cohan and Ellison’s group couldn’t reach an agreement. Cohan is “still interested” in selling the team. One source said “he is tired of losing” and another said he is “looking to cash out.”
But he isn’t desperate. According to one of the sources, potential suitors have tried to buy the Warriors at a deal price, trying to take advantage of the Warriors cellar-status, Cohan’s reported money problems and the spiraling economy. One would think Cohan would be eager to strike a deal now, since many expect the economy to hit the NBA harder in the immediate future.
But Cohan isn’t just giving away the team, according to a source.
“If he gets the right offer,” one source said, “I think he would sell the team right now. But he’s not giving it away for pennies.”
Cohan’s interest is only the start of the process, which can take a while. If other potential suitors emerge — the minority owners could pull together and buyout Cohan — and an agreement is reached, the paper work alone would probably prevent the transition from happening before the coming season ends. The NBA would have to approve any sale.
Certainly, Cohan’s desire to sell the team will have an impact on the product, even if it’s just the possibility of major change looming over the franchise. It may make the Warriors more willing to take risks, to speed up the renovation and make this team a winner as fast as possible (a winning team sells better than a losing one). It may put the Warriors in cost-cutting mode (no use dumping money into something you are trying to get rid of). It will likely make for some nervous employees, considering a new owner likely means new brain trust.
Rowell: "The Warriors Are Not For Sale"
Jul 11, 2009 9:45 AM EST
Warriors president Robert Rowell is denying a report that majority owner Chris Cohan is looking to sell the team.
"The team is not for sale," said Rowell on Friday. "I do not know how I can be any clearer than that."
The initial report claimed that Cohan has had negotiations with Oracle billionaire Larry Ellison and is seeking other suitors for the club.
"There has not been an offer and there has not been an ask," Rowell said. "There is not a sports team in the Bay Area that does not have discussions about the future and what is going to happen, but it is speculative to report that something could happen in one or two years.
"Anything could or could not happen in the next two years.
I Guess I could have said 10 Mil 100 Mil, but the reality is no one here has one mil to spare to buy a team so it was just made in jest
not that matters, update the team is not for sale
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