A slice of the Golden State Warriors is up for sale, valuing the team at an eye-watering $7 billion, according to Bloomberg.
The roughly 10% stake in the Warriors has been priced by its sellers – who remain anonymous – at about $700 million, Bloomberg said.
There’s been pushback from buyers against the price, as a sale of that magnitude would catapult the Warriors into the ranks of the world’s most valuable sports teams, alongside the likes of the New York Knicks and Manchester United.
The identities of both buyers and sellers remain anonymous and talks are ongoing, Bloomberg said.
“Per our organization policy, we do not comment on the potential sale or non-sale of ownership among our investment group,” a team spokesperson told the outlet on Friday.
Since an ownership group led by investor Joe Lacob paid $450 million for the team in 2010, it has gone from strength to strength.
The value of the team has increased almost ten-fold, according to Forbes – in part because of Steph Curry, as the superstar has helped the team win four championship titles.
Under Lacob’s ownership, the Warrior have expanded their interests from the court into media and entertainment, for example by producing documentaries and music, partnering with a cryptocurrency, and housing a collection of non-fungible tokens.
The Chase Centre, where the team plays, is another contributing factor to their sky-high valuation.
The Warriors are not the only NBA team to have fetched a premium valuation of late. In June, Michael Jordan sold his majority stake in the Charlotte Hornets for approximately $3 billion.