Steinmetz: Cohan Receiving Offers

May 26, 2010, 8:30 pm
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So the bids have been received and now Warriors owner Chris Cohan and the powers-that-be at Galatioto Sports Partners are determining which offers are best.President Sal Galatioto, vice chairman Russ Granik and Cohan began that process on Monday, meeting for several hours at the teams downtown Oakland offices.No doubt, Cohan would like to receive an offer in excess of 401 million, which is what Robert Sarver paid for the Phoenix Suns in 2007. That was a record sale price for an NBA franchise.Whether Cohan can get that much remains to be seen. The two most recent sales of NBA teams didnt yield that kind of figure.Michael Jordan reportedly paid 275 million for the Charlotte Bobcats franchise. Russian billionaire Mikhail Prokhorov recently paid 260 million for an 80 percent stake in the New Jersey Nets and 45 percent stake in the new arena.So, where exactly does that put the Warriors? We know that theyve struggled on the court for more than a decade, but at the same time the Warriors have one of the most loyal fan bases in the NBA and it is the Bay Area, after all.Sports executive Andy Dolich who worked in the front offices of the 49ers, As and Warriors, said on Chronicle Live last week that he expected the process to be a horse race, and that Cohan will get a great number for the team.Multiple outlets reported that Cohan received approximately a dozen offers for the team last week. Some of the suitors are said to be: Oracle Corp. CEO Larry Ellison, 24 Hour Fitness president Mark Mastrov, the San Francisco Giants and a group of Chinese businesspeople.Ellison, one of the worlds richest people, is said to be the frontrunner, although Dolich said its very possible that a person or group that has not been talked about could emerge.Said Dolich: Sometimes the less you say, the more serious you are.What'son your mind? EmailMatt and let him know. He may use it in his weekly Mailbag.

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