After George Steinbrenner passed away Tuesday, we were reminded of how he bought the Yankees for $8.8 million only to watch his empire grow to an estimated value of $1.6 billion last year. Quite a return, right? Now completely flip that around and you have Peter Guber, the new owner of the Golden State Warriors after he and Joseph Lacob paid a record $450 million for the franchise. Suddenly Donald Sterling doesn’t seem so insane.
Guber has been a minority owner of the Boston Celtics, after failing to purchase stakes in the Los Angeles Dodgers, Anaheim Ducks, and Sacramento Kings. He’s also been a Warriors season ticket holder and plans to help his new franchise back to the success that it hasn’t seen in 35 years. The Warriors last won a division title in 1976, and the Warriors’ two NBA titles came in 1956 and 1975. Presumably the expensive price is indicative of Guber’s desire to win before fans who witnessed the last title die.
Get the Bay Area’s hopes up, LA Times: