Warriors Sale is Final, Joe Lacob & Peter Guber Are New Owners

It's official....the Cohan era is over.  The NBA has annouced that the sale is done.  Joe Lacob and Peter Guber are the new owners of the Golden State Warriors.

To celebrate, Joe Lacob and the rest of the owners are welcoming the team back from their road trip by giving 50% off of tickets, food, and drinks at Monday's game.

Here's the Warriors press release:

Sale of Golden State Warriors to Joe Lacob and Peter Guber Complete

Due to Serve As Lead Partners of GSW Sports LLC, New Ownership Group of Bay Area NBA Team

The sale of the Golden State Warriors to an ownership group headed by Joe Lacob and Peter Guber was formally completed today, the team announced. GSW Sports LLC, a group of six board members and multiple investors, headed by Lacob and Guber, have officially assumed full control of the NBA organization.

“This announcement has been much-anticipated,” said Lacob. “Now that the process is officially complete, I am incredibly anxious and excited to take the helm of the Golden State Warriors organization. It’s a great day for me and my family, and a great day for Warriors fans. The unmatched passion of this Bay Area fan base played a huge role in my pursuit of this dream come true, and I’m looking forward to a tremendous ride on our journey to the return to greatness. We will work extremely hard to represent you as the championship organization that you deserve, and the team that you will be proud to be a part of.”

“This is a tremendous opportunity for new ownership, the Warriors franchise and its great fans,” Guber said. “I'm convinced that we have formed a passionate and well-diversified group. With the financial and intellectual commitment of the board members and investors, and Warriors fans as the truly key partners in this endeavor, we will not fail.

"We all understand that in sports business, it’s about winning, but we will also strive to make sure that the Warriors are recognized among our industry leaders in innovation and business practices. Joe and I have assembled a group of highly successful and well-respected individuals, each of whom will provide expertise in various aspects of our business. This will be an extremely strong, productive and creative partnership."

The sale of the Warriors to GSW Sports LLC was unanimously approved by the NBA Board of Governors earlier today. Game Plan LLC, a Miami Beach-based investment banking firm, represented GSW Sports LLC on the sale, while Katten Muchin Rosenman LLP served as legal counsel for this record-breaking transaction.

New Warriors Ownership To Take Over In a Week

Opening night is set to kick off on Wednesday for the Golden State Warriors and soon their new owner will be running the ship.  David Stern, the NBA commissioner, said that Joe Lacob would officially own the Warriors within the next week.

It is unsure whether they would be the new owners by opening night but either way, the Chris Cohan era is only days away from ending.

Although Joe Lacob and Peter Guber have not officially the owners yet, their stamp is currently on this team.  They were involved in the firing of Don Nelson and the additions of David Lee and Jeremy Lin among others.

Still no word who will make up the ownership group.

Warriors are sold & Cohan screws fans one final time

It’s official!!!

The Warriors were sold and not to Larry Ellison.  More on this below.

The new owners are a group that is led by Joe Lacob, a minority owner of the Celtics of which he will have to sell.  The other leader of the group will be Mandalay Entertainment CEO Peter Guber.

The price they paid was $450 million, which is a new record.  The previous highest price was $401 million which was back in 2004 when the Phoenix Suns were sold.

This is all speculation at this point but according to Larry Ellison’s statement he was the highest bidder.  Cohan was able to get one final ”f— you” to the Warrior fans even after he praised them for being the best fans in the NBA.