Warriors draw plenty of interest from bidders, including Larry Ellison, but no magic numbers

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Thumbnail image for warriors_logo.pngThe good news: There are a lot of people who want to buy the Golden State Warriors — including the insanely rich Larry Ellison.

The bad news: None of them offered the $400 million plus that current owner Chris Cohan was hoping to get for the team.

Ellison, the owner of Oracle computers, put in the same $315 million bid he made last year, according to the Oakland Tribune. Other bids included “24-Hour Fitness founder Mark Mastrov, a group from China and the current minority owners,” the paper reported, but they were all in about the same ballpark.

The bids here signal a shift in the kind of people who are buying teams and why they are getting into this. Sure, it also signals bargain hunting in a down economy, but things change now because not many people consider things worth $300 million something you find in the bargain isle.

Bidders now are much more savvy about what they are buying — this is not just a toy, this is an investment of hundreds of millions of dollars. People putting that much in do a lot of homework — current value, market value, what they can reasonably expect to spend and make over time. For a couple decades owners just made money because the value of the franchise would go up — you could lose money every year but ultimately you were making it all back and a lot more when you sold. As Henry Abbott has pointed out in a great story at TrueHoop, that model has changed. New owners get that. They will not overbid just to own a team, not at these prices.

Which means Cohan may not get the numbers he hoped to see. It means he may hold on to the team for a while looking for that to change (which is a bad thing for Warriors fans and the franchise). Maybe he needs to sell, what with owing the IRS $160 million. Either way, now he sees what people are willing to pay.

And if Cohan needs the cash, there is one guy who could just write the check tomorrow.

Anthony Bennett moves around, dunks on Lakers’ Upshaw (VIDEO)

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If you believe there is a difference between being dunked on and being dunked around, this definitely falls in the latter category.

Still, it’s an impressive move by Toronto’s Anthony Bennett to make the move and dunk around Lakers’ big man Robert Upshaw during the Raptors’ 105-97 preseason win over the Lakers Thursday night.

Bennett only had four points, but Kyle Lowry had another impressive preseason outing with 25. He has looked sharp. Julius Randle had 17 for the Lakers on 7-of-10 shooting.

Report: Cavs sign Dionte Christmas

Dionte Christmas
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The Cavs are shorthanded in the backcourt right now, with Kyrie Irving still out and Iman Shumpert sidelined for up to three months. Yahoo’s Marc Spears reports that they’re bringing in former Temple guard Dionte Christmas, who played for the Suns in 2013-14:

In 31 games for the Suns two seasons ago, Christmas averaged 2.3 points and 1.2 rebounds in 6.4 minutes per game. He probably won’t get very many minutes if he makes the Cavs’ final roster, but there’s a chance they’ll keep him around on a non-guaranteed deal until Irving and Shumpert are healthy, just to have another body in the backcourt.