NBA Ownership: The Money Is in Cashing Out, Right?

Early yesterday afternoon, CNBC reported that Joe Lacob, managing partner at venture capital firm Kleiner Perkins (early investors in Google in addition to over 150 companies that have gone public), and Peter Guber, chairman of Mandalay Entertainment, will purchase the Golden State Warriors for an NBA-record $450 million—the previous mark was the $401 million paid by Robert Sarver paid for the Phoenix Suns in 2004—despite reportedly being outbid by Oracle CEO, billionaire Larry Ellison.

Although, it should be pointed out that Ellison’s final bid was submitted after the deadline for bids had passed.

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