When Joe Lacob and Peter Gruber paid $450 million for the Golden State Warriors back in 2010, many thought they overpaid substantially for one of the NBA’s more downtrodden franchises.
The Warriors, after all, had just two winning seasons in the past 16 years up until that point, and while they’ve managed to retain one of the more passionate fan bases in the league, the location of the team in Oakland didn’t seem to be all that appealing to those observing from the outside.
It’s amazing how quickly perceptions can change. And with new Kings owner Vivek Ranadive forced to sell his minority share in the Warriors, the franchise’s valuation has nearly doubled in just three short years.
Less than three years after the two agreed to pay the highest price ever for an NBA franchise, the team is now valued at $800 million, according to a source with knowledge of the terms.
The new valuation comes from the price Silicon Valley venture capitalist Mark Stevens agreed to pay for a share of the team that was made available when former partner Vivek Ranadive had to sell it to buy the Sacramento Kings in May.
In a way, Ranadive’s agreement to pay about $550 million for 72 percent of the Kings and their existing arena helped his old partners sell their stake for even more. The $800 million number is still surprising, given that Forbes magazine valued the Warriors in January at $555 million. Warriors spokesman Raymond Ridder declined to comment on the new valuation or the percentage that Stevens bought.
Franchise valuations are a tricky thing, because all you can do is estimate what the price tag might be, based on what other franchises have sold for in recent transactions.
What can never be truly accounted for, however. is what someone might be willing to pay for even a share in an NBA franchise under the right set of circumstances. In the case of the Warriors, they’ve quite suddenly become one of the more attractive teams to buy into, and their current value is now reflective of that.
Rudy Gay expressed displeasure with how the Kings were handling trade rumors. Sacramento general manager Vlade Divac retorted that Gay had his phone number.
Apparently, Gay found it.
Sean Cunningham of ABC 10:
Following those comments, Gay told ABC10 on Thursday afternoon that he had since spoken with Divac.
“I have talked to Vlade,” Gay said from his Nike Skills Academy at Hardwood Palace in Rocklin. “I can’t say since Monday stuff has changed, but I just feel like we have a little bit of time to start changing things.”
Gay, who will be entering his 11th NBA season, has insisted he hasn’t demanded a trade and should he remain a member of the Kings by the time training camp opens in October, he says he’ll report and be ready to go.
“At this point in my career I just want to be happy,” said Gay. “I talked to Vlade and we’re trying to make that happen.”
Even if he hasn’t demanded a trade, it sure sounds like Gay would welcome one. I doubt the Kings would mind moving on, either.
But it takes another team to trade for Gay, and so far, one hasn’t emerged.
In the meantime, tensions appear to be eased. Open communication usually helps.
Jimmy Butler said of the Derrick Rose trade, “It had to be one of us.”
Butler also says not blame him for the Bulls losing Rose — or Joakim Noah, who’s also headed to the Knicks.
Jimmy Butler, via Vincent Goodwill of CSN Chicago:
“That has nothing to do with me, I don’t move guys,” Butler said. “People are gonna think what they’re gonna think. I don’t let it bother me. I know where I stand, I know who I am. It’s one more thing for people to talk about. I don’t pay too much attention to it.”
I can believe Butler didn’t directly urge Chicago to trade Rose, but Butler’s presence matters.
Rose and Butler clearly didn’t ideally mesh on the court, and there might have been off-court issues, too. If it weren’t for Butler, the Bulls might have kept Rose.
Noah is a little different, because it seems he, more than the team, was ready for a breakup. Still, that might have also had to do with Butler.
Butler is trying to grow into a leader, a natural progression for someone who became his team’s best player. But that was awkward with the Bulls’ previous leaders — Rose and Noah — still in the locker room. There’s no simple solution, though moving on without Rose and Noah will clear that cloud.
So — without other information — it’s too much to “blame” Butler for Rose’s and Noah’s departures. But Rose and Noah moving from Chicago to New York can still be ascribed to Butler.
It might not have been something asked for directly. It’s just the reality of the situation.
Dwyane Wade is back in sweet home, Chicago.
Wade met with the media for the first time and talked about the pairing of himself and Rajon Rondo with the Bulls’ existing star in Jimmy Butler — Wade used the term “three alphas” more than once. But he also was clear about whose team this was going to be on the court.
“We’re not going to go through this all year. It’s Jimmy Butler’s team. Myself and Rondo are here to bring what we bring as athletes.”
Wade added that he would not be a Bull if Jimmy Butler had not personally called him and asked him to come.
Wade took that cue from Shaquille O’Neal when he joined Wade’s Heat team — which eventually led to the Heat’s first title in 2006. The Bulls would love for that kind of result here, although it’s much tougher to see this Chicago roster having anywhere near that kind of impact.
With the Republican National Convention being held in Cleveland, you knew there was going to be a LeBron James influence.
It apparently kept Justin Bieber away from Donald Trump and Co.
Justin Bieber got a $5 million offer to perform at a Republican event during the GOP Convention, but turned it down after his manager considered quitting and LeBron James urged him to reject it … sources tell TMZ.
That’s a lot of money for a single gig. This either speaks to the power of LeBron’s words — or the embellishment of Bieber’s value.