Warriors minority owner Mark Stevens was banned from NBA activities for one year, and a forced sale could be next. But is $180 million really punishment? by kbadenhausen
With five straight appearances in the NBA Finals and a new $1.3 billion arena, Chase Center, set to open for the 2019-20 season, the value of the team has soared to $3.5 billion, according to. The 367% jump in value is the largest for any NBA team over that stretch.
The privately financed Chase Center will be the first major arena in San Francisco. It is part of a revitalization of the Mission Bay neighborhood, and the development will include restaurants, offices, public plazas and a public waterfront park. Before the doors open, the team hasin contractually obligated revenue for things like sponsorships, luxury suites and tickets.
There will be a lot of eyeballs on the opening, planned for September. The team does not need the distraction of Stevens’ ownership weighing on it. Sales of minority stakes in sports teams are not an exact science. They are often done at discounted valuations because the minority owner does not have any control over the direction of the franchise. But it is safe to say that Stevens will make a tidy profit if his fellow Warriors owners force a sale. Stevens owns an estimated 8% stake in the team, which could mean a profit of roughly $180 million, after factoring in team debt, on his original investment six years ago.
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