Warriors narrow list of prospective buyers to four
Golden State Warriors owner Chris Cohan has identified four different prospective buyers for his team -- one of which is Oracle CEO Larry Ellison -- and will inform the groups early next week, according to a source.
Cohan met for the past few days with Sal Galatioto and former NBA Deputy Commissioner Russ Granik of Galatiato Sports Partners, the group brokering the sale of the team, to discuss which of the 12 bidders would move on to the next round.
The list was narrowed to four based primarily on the bidders' likeliness of receiving ownership approval from the league, as well as their ability to transact the sale quickly. Cohan would like a sale finalized by the end of the summer so that a new owner can make decisions for the upcoming season.
The other three finalists have not been identified to the public.
The four groups will be given nearly a month to go through the Warriors' financial records and study their existing radio, television and sponsorship contracts. They also will be given access to the front-office staff on the business side, though they will not speak with the basketball staff.
Once that process is complete, final bids will be submitted.
Though the sale price of the organization isn't known, the Charlotte Bobcats recently sold for $275 million, and the Warriors, in a larger market, are believed to be worth more.