Report: Larry Ellison Out, Peter Guber in as New Warriors Owner
Rumors had been swirling that Ellison was the lead candidate to purchase the team from Chris Cohan, who has owned the Warriors since 1995.
Instead, Peter Guber (right), CEO of Mandalay Entertainment, has reportedly bought the franchise with Joe Lacob, a minority owner of the Boston Celtics. The group paid $450 million, topping the previous record of $401 million spent to buy the Phoenix Suns in 2004.
The sale will still have to be approved by the NBA Board of Governors, which should be a formality.