Oracle CEO Larry Ellison’s bid to buy the Golden State Warriors basketball team has flopped.
Ellison’s camp just put out a press release confirming he is not buying the team, despite being the high bidder.
Ellison is famous for his support of yacht racing and his fleet of aeroplanes.
The Warriors went to Joseph Lacob and Peter Guber for $450 million. Lacob is a partner at Kleiner Perkins.
Larry Ellison Confirms He Is Not Buying Golden State Warriors
REDWOOD SHORES, CA–(Marketwire – July 15, 2010) –
- Larry Ellison confirmed today he is not purchasing the Golden State Warriors.
- Despite Ellison making the highest monetary bid, current owner Chris Cohan has selected a different offer.
“Although I was the highest bidder, Chris Cohan decided to sell to someone else. In my experience this is a bit unusual. Nonetheless, I wish the Warriors and their fans nothing but success under their new ownership,” said Larry Ellison.
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