Mark Stevens buys stake in Warriors
Mark Stevens finalized an agreement to buy a minority stake in the Golden State Warriors on Friday.
The minority stake, previously held by now-Sacramento Kings owner Vivek Ranadive, makes Stevens an executive board member, joining with owners Joe Lacob and Peter Guber, according to The Associated Press.
The Warriors are now valued around $800 million, according to ESPN.com, although the terms of Stevens’s purchase were not revealed.
Lacob and Gruber paid $450 million for the team in November 2010, which, at the time, was the highest price ever paid for a team, but the investment seems to be paying off.
On the court, the Warriors are an extremely young, talented bunch, who made it all the way to the Conference Semi-Finals this past season before losing to the Spurs in six tough games.
Led by All-Stars Stephen Curry and David Lee, as well as shooting phenom Klay Thompson and last year’s Rookie-of-the-Year Harrison Barnes, the Warriors are set to make another deep playoff run this year, with the goal of an NBA title a very real possibility.