Mark Mastrov, the founder of 24-Hour Fitness, bid a lot more for the Warriors than the previously reported figure of $350 million.
A source has told the Sacramento Bee that Mastrov offered Chris Cohan $420 million to buy the Warriors, who were eventually sold to Joe Lacob and Peter Guber for a record $450 million in 2010.
Why is this relevant?
Mastrov is one of two wealthy investors interested in producing a counter-offer to keep the Kings in Sacramento.
The other, business magnate Ron Burkle, met with David Stern in New York last week to discuss a new arena for the Kings.
Mastrov himself hosted a meeting with Kings’ investors on Monday.
If he was willing to give up $420 million to buy the Warriors, one has to wonder how much he will shell out to own the Kings.
A deal to sell the Kings to a Seattle-based investment group led by Chris Hansen for $525 million was reached a week ago, but is still pending approval from the NBA Board of Governors. They will first hear from Sacramento mayor Kevin Johnson, who will try and convince them to vote the deal down in favor of a counter-offer.