Golden State Group, the holding company of the NBA’s Golden State Warriors, is seeking investors for a minority stake that values the business at more than $11bn, according to Bloomberg.

The proposed transaction involves the sale of about 5% of the company and includes a board seat, court-side seating for Golden State Group teams, and access to the ownership lounge. Citigroup is advising on the stake sale, while the Warriors said they do not comment on potential ownership changes.

Golden State Group owns not only the Warriors but also the WNBA’s Valkyries, the NBA G League’s Santa Cruz Warriors, the Chase Center arena, and Thrive City, an 11-acre mixed-use development surrounding the venue. The Chase Center cost $1.4bn to build, while Sportico values the Valkyries at $500m, the highest valuation in the WNBA.

The Warriors are considered the most valuable franchise in the NBA and generate the league’s highest revenues. The team has won four championships between 2015 and 2022, a period closely associated with the rise in franchise valuations across US professional sports.

Private equity capital has already entered the Warriors’ ownership base. Arctos Partners acquired an 8% stake in the franchise in 2021 and has since increased its holding to about 15%. 

The current process would add to a broader wave of minority stake sales across sports, including recent transactions involving Monumental Sports & Entertainment and Maple Leaf Sports & Entertainment.

If you think we missed any important news, please do not hesitate to contact us at [email protected].

Can`t stop reading? Read more.