Warriors worth reaches $800 million. | BlackSportsOnline

Warriors Franchise Value Reaches $800 Million

by Mark Gunnels | Posted on Sunday, August 18th, 2013
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Warriors are worth $800 million.

It’s a great time to be a Warrior, whether if that means on the court or in the front office. Many thought Joe Lacob and Peter Gruber overpaid for the franchise in 2010, when they spent $450 million. It’s crazy how things can change.

ESPN is reporting the franchise is now worth $800 million.

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.



About the Author

22-year old college student at Lincoln University, majoring in journalism. I'm currently employed by Black Sports Online and Full Scale Sports as a sports columnist.

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