Joe Lacob, Peter Guber

New Warriors owners not sure how they outbid Larry Ellison either

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There was a given going into the sale of the Warriors — if he wanted the team, Silicon Valley mogul Larry Ellison could win the auction. Easy. You know how rich Nets owner Mikhail Prokhorov is? Trail Blazer owner Paul Allen (he of the ground floor of Microsoft)? Ellison is worth more than both of them combined.

And it was assumed Larry Ellison wanted the Warriors, he had expressed interest before.

But at the end of the bidding, Joseph Lacob and Peter Guber came out with the team after a $450 million bid.’s Scott Howard Cooper asked them how that happened, and, well, they don’t know either.

“We heard all that too, and we even thought that,” Lacob admitted, laughing. “I remember Peter and I talking about this during the process. We said, ‘We can’t really worry about him. We just have to do what we think is right. We have to do our homework, we have to bid at the appropriate time, we have to bid the right amount, we have to do our due diligence properly, and we just stay in the game because you never know what’s going to happen….”

“The truth is, in the end, who’s to say why. Larry could have had the team probably at any time by just writing a bigger check. And he certainly could afford to do that. I really don’t know why he didn’t do that. Maybe it’s one of these things where you just don’t think the other guys are real in a bidding process. We were a little bit under the radar. We just stayed in there and did our thing. I guess the one thing I would say is that when it came down to it and we knew we had it, or were very close to having it, we did do one thing that was rather unusual. We signed a letter of intent. Then it usually takes a couple months to do what’s called a complete purchase-and-sale agreement. We went and did that in a period of about 72 hours. Completely. Nonstop. Without sleeping. With our lawyers. We knew that they, or he, or whoever – we didn’t know who the competitor was – would try to come in over the top at the end. It’s an auction process. We just said, ‘We’re going to be done before they ever get there.’

Ellison did try to come in with a bigger offer after the bidding process ended, but that didn’t work. Selling owner Chris Cohan stuck with his process. And there you go.

We don’t know how good Lacob and Guber will turn out to be as owners. Better than Cohan, one could hope (one playoff appearance in 16 years). Owners who stuck with a plan and beat the big gun out sound like just the perfect guys to take over in the Bay Area.

Mark Cuban suggests supplemental draft for undrafted free agents

Mark Cuban
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A lot of people around the NBA have ideas to improve the draft, free agency and the D-League, and Mavericks owner Mark Cuban has never been shy about sharing his. His latest idea seems pretty logical: a supplemental draft for undrafted free agents.

Via Hoops Rumors:

“I would have a supplemental draft every summer for undrafted free agents of the current and previous 3 years,” Cuban wrote in an email to Hoops Rumors. “If you are more than 3 years out you are not eligible and just a free agent.”

The supplemental draft would have two rounds, and teams would hold the rights to the players they select for two years, Cuban added. Players can opt out and choose not to make themselves eligible, but those who get picked would receive fully guaranteed minimum-salary contracts when they sign, according to Cuban’s proposal.

“That would make it fun a few weeks after the draft and pre-summer league,” Cuban wrote. “It would prevent some of the insanity that goes on to build summer league rosters.”

It’s an interesting proposition. Most undrafted players who sign during the summer don’t get guaranteed contracts, so when deciding to enter this supplemental draft, they would have to weigh the value of having guaranteed money versus getting to decide where they sign. It’s unlikely that anything like this could happen anytime soon, because of all the hoops to jump through to get the league and the players’ union to sign off on it, but it’s a worthwhile idea that deserves some consideration in the next CBA negotiations.