AP Photo/Ben Margot)Oracle cofounder Larry Ellison missed out on shopping a Golden State Warriors in 2010, and it might have been a best thing that happened to a team.
In a Bloomberg MA podcast, contributor Alex Sherman interviewed Sal Galatioto, a landowner who worked on a sale of what is currently a NBA’s best team, about a sale process.
“We hold an auction. It was a frothy auction, it had 12 bidders,” Galatioto explained. “The final dual bidders were Joe Lacob and his group, who won. we got dumped on from good heights for offered it to him.”
Ellison, cofounder of Oracle, was a other bidder. Fans suspicion Ellison would take over a group and spend a garland of cash. Galatioto suspicion otherwise.
He told Sherman:
He wasn’t a high bidder. Peter Guber and Joe, they had a prophesy for this team, and we unequivocally felt they were going to be good owners. we went on atmosphere in a San Francisco area and we told everybody they were going to spin this around. They had a vision, they were focused and they unequivocally accepted what indispensable to be done. we got pooh poohed, oh my god. People wanted Ellison to win. They don’t know it. Joe had a plan. Joe got it.
I am still watchful for someone from a San Francisco Bay area to get behind to me and say, “You know what Sal, we were right, these guys were a right owners.” No offense, though who is improved than these guys? Give me a break. They’ve incited a group from a shouting batch to a powerhouse.
Galatioto, who has been described as “The King of Sports MA,” helped sell a Charlotte Bobcats to Michael Jordan and a Washington Redskins to Daniel Snyder. He worked during Societe Generale and Lehman Brothers, and now runs his possess firm, Galatioto Sports Partners.