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Larry Ellison, Oracle CEO Outbid for Ownership of NBA’s Golden State Warriors
Posted On December 22, 2010
Oracle Corp’s (NASDAQ:ORCL) chief executive Larry Ellison was outbid by Joe Lacob, a partner in venture-capital firm Caufield & Byers, for ownership of the NBA’s Golden State Warriors by a record 0 million bid. Lacob also bought an ownership stake in the Boston Celtics in 2006. Ellison is reportedly Silicon Valley’s wealthiest technology executive and was favored to win the bid for the basketball team. Ellison said he was the “highest bidder” for the team and “in my experience this is a bit unusual. Nonetheless, I wish the Warriors and their fans nothing but success.” Shares of Oracle closed trading down Thursday at .83.