Golden State sold for record amount
The Golden State Warriors basketball team was sold today for $450 million, which makes it the highest price ever paid for an NBA team.
The previous record was held by the sale of the Pheonix Suns in 2004 to current owner Robert Sarver for $401 million.
The Warriors were bought by a minority owner of the Boston Celtics, Joe Lacob and Mandalay Entertainment CEO Peter Guber. Lacob and Guber beat out Oracle CEO Larry Ellison who had been the favorite to purchase the team for months.
Marketplace is on a mission.
We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.
Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?