The Warriors have sold an estimated 5% of their franchise to private equity firm Arctos Sports Partners, according to Scott Soshnick and Eben Novy-Williams of Sportico.
The team’s total value was most recently estimated at $5.21 billion by Sportico ($4.7 billion by Forbes), but the minority stake was purchased using a $5.5 billion overall valuation, per Sportico.
Soshnick and Novy-Williams note that this purchase marks the first instance that a private equity firm has procured a portion of an NBA club, following the league’s decision to expand its pool of prospective owners to include “institution investors.”
Arctos, founded by private equity veteran Ian Charles and former Madison Square Garden Company CEO David “Doc” O’Connor, holds roughly $1 billion in assets that it hopes to invest across multiple sports teams.
Majority owners Joe Lacob and Peter Guber bought the franchise in 2010 for a then-record $450MM. Eleven years, five Finals appearances, and three titles later, they have turned quite a profit.
The beginning of the end?
Nope just infusing 260 million dollars in cash back in their pockets. Happens to be more than half what they paid for the team in the first place. And they still own 95% of the team LOL. Sure looks like they know what they’re doing.
Selling high, that’s smart.
lol you wish
Anyone who cant see this team is exactly one Klay Thompson away from complete dominance is just kidding themselves. Next year the chip is going to GSW for sure. Rest of league run by idiots lol
I didn’t mean for the Warriors, I meant for the NBA
I thought that both Kerr and Lacob were the ones messing things up this season for the Warriors. But now they’re not and will somehow know what they are doing in 2022 and return the team to its championship ways? Unfortunately Klay Thompson is no longer Klay Thompson, just wait until next season and you will begin to understand how difficult it is for a 31-year old player to come back from two consecutive season-ending injuries.
He’s not even expected back at the start of next season, so he might get in a handful of games before next year’s AS break if the Warriors are lucky. Barring a miracle in 2022 they may have to blow it all up.
“Anyone who cant see this team is exactly one Klay Thompson away from complete dominance is just kidding themselves”
They’re two games under .500. They’d need about five Klay Thompsons, all mashed together, making like a 33′ tall, 5,000 pound player, to give them “complete dominance”.
That child.
What’s the NBA now allowing institutional investors,
I’m curious to see how other owners respond in the approval of these institutional investor owners.
Now if a SPAC purchases a team, what’s going to happen when the SPAC dissolves and the shares are publicly traded?
That’s interesting.
Why wasn’t Marty in on this ??
Who’s to say I wasn’t?
A handsome profit that is never counted when calculating total basketball income. That way, the players never get a penny.
But the owners say that they’re partners with the players. Partners who don’t share profits on the franchises, but who share all the franchise operating expenses.
Some partnership,eh?
Jason you are sooo very right!
Players get a raw deal countin’ they are the show, no one goes to watch GSW or any other team, fans go to watch players, as simple as!
I thought, according to Marty, that Lacob was rich beyond anyone’s wildest dreams, so rich that he did not care about spending way, way over the luxury tax and was going to sign KD and Kawhi this offseason?
Something about selling off a chunk of the Warriors to make some cash doesn’t quite gibe with that. Unless he plans on blowing all of his new profits immediately?
They probably need some of that 260 million to pay stef LOL