July 20, 2010
Way back in March, when the Golden State Warriors first went on the market, everyone assumed that Oracle CEO/enormous yacht owner Larry Ellison would swoop in and purchase the team for a crazy amount of money. He's a huge Warriors fan, he's super rich and he'd been trying to buy the team for years — it seemed like a no-brainer.
But then that no-brainer turned into a what?-brainer (not a real thing) as the Warriors sold to Joe Lacob and Peter Guber. Soon after the sale, news leaked that Ellison had actually bid more for the franchise but his offer wasn't accepted. Pretty weirdski, but there had to be another reason for Ellison's higher offer being rejected. Turns out there was, and it's a very Golden State-ish reason for failure. From Phillip Matier and Andrew Ross of the San Francisco Chronicle:
[We're] told that Ellison did offer a few million dollars more for the team than Silicon Valley venture capitalist Joe Lacob and Hollywood sports and entertainment mogul Peter Guber.
But that was at the tail end. Earlier, after Lacob and Guber submitted their NBA record $450 million offer, Ellison waited nearly two weeks to counter - with a lower bid.
Finally, days later and just six hours before the Lacob-Guber sale was to be finalized, Ellison's rep upped the offer. By then, it was too late.
Nice one, Lar-bear. Someone should report him to the Badder Business Bureau because a two-weeks-late counteroffer that comes in lower than the original offer is almost comically bad. Like, four guards and a small forward on the court at once bad. As they say, the early bird gets the very expensive NBA franchise.
While little is known about the group that ended up purchasing the Warriors, Golden State fans should be happy that it was able to get its act together and buy the team. Maybe they wanted Ellison, but if he can't be bothered to figure out how bidding works then maybe he's not the guy you want calling the shots. Not to mention, if the new owners can get Stephen Curry(notes) and Andris Biedrins(notes) to star in the newest iteration of the "I Know What You Did Last Summer" franchise — which Guber's Mandalay Entertainment financed and produced — we'll all be winners. That's certainly something worth rooting for.