The Golden State Warriors: Capturing Opportunities with a New Ownership Group
In 2010, venture capitalist Joe Lacob pursued his lifelong dream to own and operate a professional sports team. Three months after he purchased the Golden State Warriors basketball franchise, Lacob reflected on the team’s history, and progress to date under his leadership.
Lacob had prepared for this challenge by becoming a member of the Boston Celtics ownership group, where he was witness to the Celtics’ NBA championship season in 2007-2008. Lacob used this experience to frame what he planned to do as owner of the Warriors, and how he hoped to improve the franchise. Key to his strategy was boosting the team’s on-the-court results, as well as renegotiating the Warriors’ local TV contract with Comcast, increasing sponsorship revenues, and improving the team’s arena.