Tech superstar Larry Ellison wants to buy the Golden State Warriors
Oracle CEO Larry Ellison is well known
for opening the checkbook to purchase rival tech companies, but Ellis
recently disclosed he has a new business venture in mind: the
Golden State Warriors basketball team.
The Warriors, who play
in Oakland's Oracle Arena, have struggled as its upper management has
been a complete mess, while the team has been unable to gel
properly. Chris Cohan, current Warriors owner, is unpopular and
considered by many NBA bloggers as irrelevant and detrimental to the
team.
"I'm trying, I'm trying," Ellison told
reporters during a recent meeting at the company's Redwood Shores
headquarters. "Unfortunately, you can't have a hostile
takeover of a basketball team."
According to the
Warriors, Ellison hasn't
reached out and made an offer... yet.
The Warriors made
the NBA Playoffs just a couple seasons ago, but front office issues
and a young team have severely hindered the team. Sports
writers and tech bloggers indicate Ellison may be a good fit
because he has the money and influence to make some drastic changes
-- and he knows when it's time to hire the right people, and then let
them do their jobs.
The team now has a 13 - 31 record,
last place in the Pacific Division, and remains one of the worst
teams in the NBA. It's unknown how much Ellison would need to
pay for the franchise, but with a $27+ billion net worth in 2009, he
should be able to handle the bill.
Even though the team has
been horrible, the Warriors still have the 10th best home attendance
and 14th highest capacity percentage in the league -- bringing in
18,116 people to Oracle Arena each evening.
Ellison is already
being compared to fellow tech-billionaire Mark Cuban, who bought the
Dallas Mavericks and turned the team into one of the best franchises
in the country.
"Spreading the rumors, it's very easy because the people who write about Apple want that story, and you can claim its credible because you spoke to someone at Apple." -- Investment guru Jim Cramer
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