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New York Post
The Golden State Warriors are slipping in value — and here’s why
By Josh Kosman,
10 hours ago
The value of the Golden State Warriors is sinking faster than a Steph Curry jump shot.
An attempt to sell a minority stake in the team, the NBA’s most successful franchise over the past decade with four titles, has languished for nearly a year amid concerns about the aging team — combined with broader fears over San Francisco’s exodus of high-paid tech workers, The Post has learned.
Forbes estimated the franchise to be worth $4.7 billion last October, trailing only the Los Angeles Lakers ($6.4 billion), the Knicks ($6.6 billion) and the Warriors — who were valued at $7.7 billion.
But Golden State failed to make the playoffs last year as Curry turned 36 years old.
“This is a hard sale,” one of the sources close to the talks said.
A sports investment banker cited the prospect of fair-weather fans abandoning the team as its plummets from its meteoric rise for the Warriors’ depreciating value.
The source noted that many tech workers have fled San Francisco or are working remotely, and may be less likely to come to games — especially if the Warriors are not competing for titles.
The price to attend Warriors home games trails only the Knicks as the costliest in the league. The cheapest four tickets, plus four hot dogs, two beers, two sodas and a parking spot will run $608.39, according to Axios.
Joe Lacob and Peter Guber bought the Warriors in 2010 for $450 million.
In 2022, Arctos Sports Partners bought a 5% stake in the team, including the building and real estate, at a $5.6 billion valuation — a record price paid for a stake in an NBA team.
Gerry Cardinale — founder of RedBird Capital Partners, which owns stakes in Boston Red Sox owner Fenway Sports Group and Italian soccer team AC Milan — said in a recent interview that sports team valuations were in an economic bubble and would come down.
“There is a tremendous amount of inexperienced capital chasing sports,” Cardinale told Private Equity News .
“I just think everybody has to calm down a little bit. We need some sober, unemotional, non-trophy-hunting investing in sports.”
For the latest in sports, top headlines, breaking news and more, visit nypost.com/sports/
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