The Golden State Warriors' latest business dealing will have owners around the league asking the $800 million question: Since when are teams outside of New York or Los Angeles worth $800 million?
Per "a source with knowledge of the terms," venture capitalist Mark Stevens purchased a share of the Warriors at a price point valuing the entire franchise at a clean $800 mil, ESPN's Darren Rovell reports. That's a lot of dough by any measure, but it's all the more eye-popping in light of what Golden State was supposedly going for earlier this year. Forbes calculated the team to be worth $555 million in January, which ranked it five spots behind the $800 Chicago Bulls.
Forbes' estimate actually sounded pretty good, given that the group led by Joe Lacob and Peter Guber originally purchased the club for just $450 million in 2010.
That's some kind of inflation.
The equity interests Stevens acquired previously belonged to Vivek Ranadive, who bolted the Bay Area to join an investment group paying a record $550 million for a 72 percent stake in the Sacramento Kings and their existing arena in M ...
Read Full Article at Bleacher Report - NBA
Article written by Stephen Babb
Golden State Warriors Reportedly Valued at $800 Million Purchase Price
August 16th, 2013 by Stephen Babb Leave a reply »
Advertisement