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The NBA's Golden State Warriors are hoping for a Cinderella -- turnaround under new ownership.
Led by scoreboard favored Peter -- of Mandalay entertainment and venture capitalists Joseph -- -- and they join us now to tell us.
How they hope to turn around this franchise.
Wonderful work -- you don't -- -- or maybe ado about Peter and I've -- target about this for weeks and months now.
I've been trying to pry information out of -- unsuccessfully he's been he's been very good but Peter.
Million dollars it is a record for an NBA team first question is there any concern that you might have overpaid for the team.
-- -- I would answer that.
Well we don't think we overpaid you know Peter and I have been looking at sports franchises for a decade together so we know each other well and we've looked at a lot of games.
And we've come close a couple of times.
And we looked at the intrinsic value of this franchise and decided it was worth every penny of it one of the largest five largest markets in the country and -- -- really happy with.
And Pacific rim country well like I gotta say also for those who don't know it usually even though the record -- as has not been stellar although they are -- to six in three starts they.
You're off to a great start this season but they usually -- pretty high ticket sales no Peter.
Yeah that's right they have a great fan base they're very excited about the game -- very loyal that your kids -- -- -- has Joseph said.
To put some really -- on the bone and make that field.
Team -- -- team that's got to be really successful -- live up to that aspiration now Joseph you had you were part owner and the Boston Celtics many folks would say.
Why give up this Celtics for the Golden State Warriors what's your answer.
Well my goal was always to be the movie the majority owner or one of them journalism the -- like this and the Celtics.
David Stern told me and every years ago.
The great organization you've got a lot of history were born there -- and do this for five or six -- and when the right opportunity comes along.
You'll be an insider and I think it -- very right it was a great great experience -- great ownership there learned a lot from it well and.
The -- so Peter -- -- like -- -- -- is going to be calling the shots here.
I listen I want to college -- -- three point shots at the end of the game I want to have the ball make sure he -- and I wanna make sure that no.
They'll all be the target he can be you know.
Who will -- out that the target we're burger came together that -- Joseph we should mention for those who don't know you're very successful venture capitalist your affiliate with Kleiner Perkins.
Which is a hugely successful venture capital firm.
Involve a lot of startups.
Is is this though the first is this seems to be something very special -- -- there seems to be kind of up a love relationship with this purchase.
Well the truth of the matter is I love doing venture -- I love starting companies I've enjoyed it thoroughly I think -- one of the best jobs in the world.
But there may be one better.
And I've always been puzzled -- want to be involved in sports ownership and NBA team that particular.
I mean -- that's a dream come true for me totally dream come true.
Peter then that the one thing that might -- a dream into a nightmare is the potential of a lock out the NBA.
Having some problems right now are you prepared.
And how do you prepare for something like that particularly as a new owner.
Well first of all -- keep your mouth shot because the NBA has some things haven't ruled.
About talking about any of those kinds of activities -- instead of being -- me.
Some of the I'm always Robertson and -- spouting off I got to save my money I can't have finally got -- thank -- -- plans -- for improvements.
Joseph was was was Peter the -- got you involved this or it was a just coincidental used to looking up like this.
No we had known each other for ten years and we've actually looked at a couple of franchises together.
And when this became available or look like it was gonna become available earlier this year Peter was the first person that I -- he was well aware of it looking ahead -- themselves.
Said -- team up political after this.
What what other franchises were you looking happy and well we were fooling with the Dodgers Ruben Frank McCourt and both of -- made firm office for the open.
Athletics baseball team in fact what we signed an agreement to buy it -- -- Major League said now -- -- -- contraction.
So -- this does not first rodeo we've been together for a different opportunities in this one.
Work and Peter -- we should mention you just.
You -- just part owner of of a new AAA baseball team right in Oklahoma.
Yes they get Red Sox were just took over that that franchise they at the AAA -- Team and we on the AAA yankees.
On the East Coast as well and so we're very deeply involved with Major -- -- -- the last fourteen years and end despite all of that you're still -- -- -- Frank Sinatra movie right.
Well yeah but he's not singing yet we get -- make this thing thing -- -- make this thing thing somehow was paying for that one guys can grad first of all congratulations on the purchase.
Congratulations also on his -- restart.
You're off to a wonderful start and you may be responsible will Renaissance.
Not only of the Golden State Warriors but also of Oakland who knows maybe it might happen -- the whole city.
Thank you very much for coming in Peter -- Joseph lake.
Best of luck to you guys.
Thanks David thank you very much David banks' ability.
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