http://realgm.com/src_wiretap_archives/65499/20100322/report_cohan_ready_to_sell_warriors/ [video=youtube;a37bBm8pXSk]http://www.youtube.com/watch?v=a37bBm8pXSk[/video]
Hiring a broker means you're fairly committed to going through with a sale. He's trying to get the best offer possible but he'd lose money if he withdrew during this process. When I first read the post about this on espn I instantly went to verify it. I'm not quite ready to throw a party, but this is definitely the best I've been feeling about the team for years.
Awesome news. I wonder how long it takes, historically, to sell a team once you've hired a third-party agency to broker the deal. This is the same company that brokered the Bobcats sale to Jordan, reportedly.
I can't even remember any sales that were advertised this openly. Some teams announced intentions to sell, taking offers for a full year. Others took 6 months to sell, taking offers more discreetly. How fast it ends up taking will depend on if Cohan gets an offer he can't refuse, but likely the time frame will be 1-2 months for initial proposals. It can take another 1 month to work out the fine details and get the NBA's approval, longer if they propose to move the team to San Jose.
What's a fair offer now? Ellison bid $315 or something close to it, but it appears the market has gone down with recent franchise sales. Possibly. Warriors set a deadline for renewals before the draft, so they need more incentive for STH to act now.
Bobcats sold for $275M. That's not good for Ellison who wanted to buy the Warriors, who are in a much better market, at "only" 40M more.
Amazing news. Can't wait for Bobby Rowell to get shitcanned! I would also expect us to dump Mags and perhaps Monta and Biedrins for the best salary cutting offer available as soon as the offseason starts. It will suck but to be honest if it means selling the team and keeping Curry, Randolph, Wright, Morrow, Turiaf, and our first round pick then I'm all for it.
I think that $315 is a truly fair offer, but Cohan will probably not bite until the $350 million range. And I do expect someone to hit 340-360, but probably not more. There's at least 3 groups that are based in the Bay Area that can gather enough interest among various investors to put together an offer. Golden State can consistently hit #5-#10 in NBA attendance and has a great basketball history, is not in any major debt, but is not in a position to improve its revenue quickly either. Other recent sales: 2003 Bobcats: $300 2004 Hawks: $208 2004 Nets: $300 2004 Suns: $404 2005 Cavs: $375 2006 Thunder: $325 2007 Hornets part-ownership share: $285 2010 Bobcats: $280 2010 Nets pending: $260 + $700 arena in Brooklyn
Kawakami, whom many of you dismiss, has been all over this from over a year ago, has a pretty comprehensive look at the machinations and lays out a timetable of about 6 mos to get this done. http://blogs.mercurynews.com/kawaka...many-interested-parties-strong-sf-bid-likely/ A couple of months until a new prospective owner is identified? AWESOME. While I love SF, Oakland games, while working in Oakland, makes the games much easier to get to. Lease is good until 2016 anyways, so might not be a big deal.
it's funny that you say that, because I started a thread about this when there was 1st Ellison talk. The overwhelming feedback was to keep the name. I'll probably add a Curry Photoshop Graphic instead of the foul signature that I have now though
Oh yeah, if Ellison saves the Warriors, our team would have the RICHEST OWNER IN THE LEAGUE! How sweet would that be? No more penny-pinching idiotic moves (think flushing Speedy Claxton's expiring K).
Thinking about it, what if Ellison or someone else buys the Warriors and ends up being a retard like Cohan and co?
There is no possible way that it could be worse. A can of sardines can run a franchise better than Chris Cohan. This is awesome news...
Here's Marc Stein's blog, which talks about the Logo: http://espn.go.com/blog/TrueHoop/post/_/id/14451/warriors-for-sale-what-we-know
