Peter Guber Rumors
In only five years, the Golden State Warriors ownership group led by CEO Joe Lacob and Mandalay Entertainment boss Peter Guber brought to Oakland the basketball franchise’s first championship in 40 years while turning around a money-losing business operation. At the same time, former venture capitalist Lacob has reinvigorated the team’s philanthropic foundation and created a game plan for a new, privately funded $1 billion-plus arena in San Francisco’s Mission Bay. It’s all part of the basketball fanatic’s passion for winning. “We’re a sports organization,” he said. “We’re supposed to win.”
Warriors owners Joe Lacob and Peter Guber made a public commitment soon after buying the team from Cohen in 2010 that they would privately finance a new arena, without any money from Bay Area municipalities, in San Francisco. The costs of the new building and surrounding developments in the Mission Bay area of the city are estimated at $1 billion. Lacob and Guber spent $450 million on the team and they’re committing up to a billion for the new digs. They have to start making their money back at some point.
The new arena will seat 18,000, less capacity than the 19,500-plus that have sold out 133 consecutive games at Oracle. There are local groups that oppose building at the new site, which is near a children’s hospital, because of concerns about egress to the hospital on game nights. But the city issued an 800-page environmental impact study on Friday that claimed it would be able to handle the additional traffic that would develop in the area if the arena — scheduled to open for the 2018-19 season — gets final approval.
In 1988, the Pistons moved even further north — 31 miles north of Detroit on Interstate 75 — to Auburn Hills, where auto-affiliated companies like BorgWarner, the parts manufacturer, and Autoliv, which makes seatbelts, airbags and other safety products, have their corporate headquarters. “It certainly went from being a blue-collar crowd at the Silverdome to a white-collar crowd,” said Joe Dumars, who played 13 seasons in Detroit after being drafted by the Pistons in 1986. “We used to always acknowledge that. The Silverdome crowd were the assembly workers who built the cars, and the Palace crowd was the executives of the auto companies.” But the move to Auburn Hills was nonetheless a financial boon for the franchise.
Diamond Leung: Great look at Joe Lacob from @Tim Kawakami reminds me of Lacob comments at venture capitalists luncheon on Don Nelson. Joe Lacob: “I fired Don Nelson before I even owned the team. I got in trouble for that. I got fined. They say, ‘You can’t fire (Don Nelson). You don’t own the team.’ I said, ‘No, I am. I’m firing him.’ I turned to Peter Guber & I said, ‘They r terrible. We r terrible.’ That was my 1st reaction (1st game). It was just an awful team.” Four years later, Warriors not so terrible.
Curry indicated that, based on his relationship with Guber, it was an “honest mistake,” adding that he has read previous emails that appeared to have mistakes resulting from the “quirkiness” of Guber’s typing. “Hearing how his reaction to when he found out what exactly happened seemed genuine,” Curry said. “(I) kind of got to assess the situation for his character and who he is, and that’s kind of how I’m going about it.
Warriors coach Steve Kerr, along with players Stephen Curry and David Lee, said they did not believe Guber meant to express anything offensive. “I don’t think it’s a big deal,” Kerr said. “But we’ll take him at his word and just move on.”