Group of Warriors minority owners looking to sell $700,000,000 worth stake could bloom team’s valuation to over whopping $7 billion
The Golden State Warriors could see their valuation cross over the $7 billion mark if a group of minority owners is able to sell their $700 million stake in the team.
According to a new report, it sounds as though minority owners are eager to part ways with a 10% stake in the team for $700 million, at a $7 billion valuation; however, potential sellers aren't thrilled with the number.
A report from Bloomberg News, which has since been corroborated by other outlets, indicates that the team could be in for a big change depending on how things play out.
While various outlets, including Bloomberg, have all reached out to the Golden State Warriors for comments, the franchise is playing things close to the vest.
A statement relayed to the outlet confirmed what many already know: the organization's policy is to not comment on matters like sales until after the fact. As such, their statement provided to Bloomberg reads:
“Per our organization policy, we do not comment on the potential sale or non-sale of ownership among our investment group.”
This wouldn't be the first time in recent memory that a minority owner parted ways with their stake in the Golden State Warriors.
Last summer, Chamath Palihapitiya sold his 10% stake in the team, which he purchased back in 2010. At the time, Forbes put the franchise's valuation at $5.6 billion.
Now, however, Forbes estimates that the team is worth approximately $7 billion. The valuation marks the first time in over 20 years that the LA Lakers and NY Knicks haven't been the NBA's most valuable franchises.
Looking at the Golden State Warriors upcoming season
While the sale likely won't be impacted by the upcoming season, the team's valuation could be drastically altered by their performance. After winning four titles in the last 10 years, the team's valuation has continued to skyrocket.
Should they manage to capture another NBA title, it's safe to say that their valuation would once again see a major increase. The big question is whether or not the team is able to retake its place atop the NBA.
Last season saw the team go through struggles in the playoffs, which resulted in being eliminated by the LA Lakers.
Following the loss, the Golden State Warriors' front office went to work making some big moves, most notably parting ways with Jordan Poole and acquiring Chris Paul.
While there have been questions about how a veteran like Paul will fit in with the Warriors given that he and Steph Curry both play point guard, the team is optimistic.
With training camps set to open in October and the NBA season not far behind, the expectation is that Steve Kerr will start both Curry and Paul alongside one another.
Whether or not they're able to find success and push their valuation to another milestone number, only time will tell.