NEW YORK (
CEO Larry Ellison plans to buy the Golden State Warriors basketball team from owner Chris Cohan, according to several reports.
The San Francisco Chronicle
reported Wednesday that Ellison would be willing to pay between $315 million to more than $401 million for the team.
Apparently Ellison outbid several other prospective buyers, including Mark Mastrov, the founder of
Oracle owns the naming rights of the Oracle Arena in Oakland where the Warriors play. If the deal goes through, Ellison would own 80% of the franchise.
Oracle shares are up 1.4% at $24.04 today.
-- Reported by Theresa McCabe in Boston.
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