Golden State Warriors announce they're for sale

Golden State Warriors guard Monta Ellis (8) drives to the basket against Memphis Grizzlies forward Darrell Arthur (00) and Sam Young (4) during the first half of an NBA basketball game in Memphis, Tenn., Saturday, March 20, 2010. The Grizzlies won 123-107. (AP Photo/Lance Murphey)
March 22, 2010 7:24:52 PM PDT
There have been few bright spots in the 15 years since Chris Cohan took over as owner of the Golden State Warriors in 1995. The Warriors have had just one playoff appearance, bookended by never-ending coaching changes and overall dysfunction.

Several suitors have previously offered to buy the team, but it was not for sale -- until Monday, when the Warriors confirmed they have hired Galatioto Sports Partners to broker a sale.

Sources say there are at least six interested buyers. Coach Don Nelson says the loyal fan base makes the franchise a golden opportunity.

"Oh yeah, I think it's one of the best in the league," he said. "It's an unbelievable franchise; If I had enough money, I would buy it."

Oracle CEO Larry Ellison has been the most vocal potential buyer. Ellison won the America's Cup in January and his philosophy in business and sports is simple -- failure is not an option.

Would he keep Nelson as coach? What about the roster? Who knows?

"I don't know him; I read he does have an interest in the team," Nelson said. "You gotta be a great competitor to win the cup. You know, that would be great."

Chris Cohan has been a relative recluse as the Warriors' owner, with his visibility decreasing while the losses were increasing. He is not close with any of the players, so a change at the top does not mean much right now.

"Until the name on the check changes, it's still the same thing," Warriors forward Corey Maggette said. "We don't know what's going to happen right now, but we're just going to continue to play basketball."

It is believed the Warriors are worth around $300 million dollars. ABC7 has been told a sale could be completed in a few months with regime change coming before the start of next season.


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