When Vivek Ranadive sold his stake in the Warriors so he could buy the Sacramento Kings, Ranadive's shares went back on the market. Venture capitalist Mark Stevens recently stepped in to buy those shares, and the price Stevens paid shows how far the Warriors' value has risen in just three years under new ownership.
The terms of the deal weren't disclosed, but ESPN sports business reporter Darren Rovell wrote that the price Stevens paid reflects an overall valuation of $800 million. That's $350 million more than Peter Guber and Joe Lacob paid for the Warriors in late 2010, and it reveals a massive, rapid appreciation in overall value.
Stevens is the managing partner for S-Cubed Capital of Menlo Park, CA, and also serves on the board of directors for Nvidia and the board of trustees of the University of Southern California. In January, Forbes magazine valued the Warriors at $555 million, but it appears that estimate was way off.
Last season, the Warriors made the playoffs for the first time since 2007, falling in the second round to the San Antonio Spurs. The culture change Lacob and Guber have overseen is no doubt a major factor in the Warriors' increased value, and with their anticipated move to a state-of-the-art San Francisco arena in 2017, that value will continue to rise.
Back to the Golden State Warriors Newsfeed