November 12, 2010 Sale of Golden State Warriors to Joe Lacob and Peter Guber Complete Duo to Serve As Lead Partners of GSW Sports LLC, New Ownership Group of Bay Area NBA Team
The sale of the Golden State Warriors to an ownership group headed by Joe Lacob and Peter Guber was formally completed today, the team announced. GSW Sports LLC, a group of six board members and multiple investors, headed by Lacob and Guber, have officially assumed full control of the NBA organization.
“This announcement has been much-anticipated,” said Lacob. “Now that the process is officially complete, I am incredibly anxious and excited to take the helm of the Golden State Warriors organization. It’s a great day for me and my family, and a great day for Warriors fans. The unmatched passion of this Bay Area fan base played a huge role in my pursuit of this dream come true, and I’m looking forward to a tremendous ride on our journey to the return to greatness. We will work extremely hard to represent you as the championship organization that you deserve, and the team that you will be proud to be a part of.”
“This is a tremendous opportunity for new ownership, the Warriors franchise and its great fans,” Guber said. “I'm convinced that we have formed a passionate and well-diversified group. With the financial and intellectual commitment of the board members and investors, and Warriors fans as the truly key partners in this endeavor, we will not fail.
"We all understand that in sports business, it’s about winning, but we will also strive to make sure that the Warriors are recognized among our industry leaders in innovation and business practices. Joe and I have assembled a group of highly successful and well-respected individuals, each of whom will provide expertise in various aspects of our business. This will be an extremely strong, productive and creative partnership."
The sale of the Warriors to GSW Sports LLC was unanimously approved by the NBA Board of Governors earlier today. Game Plan LLC, a Miami Beach-based investment banking firm, represented GSW Sports LLC on the sale, while Katten Muchin Rosenman LLP served as legal counsel for this record-breaking transaction.
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