Sources: Warriors Minority Owners Seek 5% Sale To Quell Losses

Minority investors in the Warriors are "gearing up to sell a five percent stake in the team amid losses incurred during the pandemic," according to sources cited by Josh Kosman of the N.Y. POST. The selling owners are "seeking $200 million for their stake," which would give the team a "valuation of $5 billion when factoring in its $800 million in debt." The identities of the sellers "remain unclear as that information is usually not unveiled until an auction is done." Sources said that in this case, the process has "just begun." A source indicated that Joe Lacob, who currently owns the largest stake in the team at 35%, is "not selling." Kosman notes the Warriors have "15 investors total, including Lacob’s co-chairman Peter Guber, a Hollywood executive with a 20 percent stake." Sources said that the "normally profitable" Warriors are "on pace to lose more than $70 million." A source: "The owners don't want to put in more money" (N.Y. POST, 2/2).