California already has more NBA teams than any other state. And the Golden State could be adding another one.
The San Jose Mercury-News reports that Oracle Co. co-founder and chief executive officer Larry Ellison and moving them to the HP Pavilion in San Jose.
As of 2011, Ellison is the fifth richest person in the world, with a personal wealth of $39.5 billion.
Ellison told the Mercury News earlier this year that he unsuccessfully bid on the Golden State Warriors.
His interest in the Hornets potentially would be good news for the NBA, which has taken control and is currently operating the Hornets.
It would be an interesting move for the Golden State Warriors, who own the San Jose area as part of the league’s 75-mile “marketing rights” agreement but have no veto power to keep a potential competitor out of the area. All power to approve or block franchise shifts rests with the NBA Board of Governors — with one vote for each team.
With the strong likelihood the Sacramento Kings soon will be moving from the area, but another competitor could challenge the Warriors in an immediate manner.
Ellison, a dropout from the University of Chicago and the University of Illinois, has made a history throughout his career of making savvy business moves. I can’t believe he would be interested in owning an NBA franchise until after this summer’s looming labor negotiations.
The NBA would like to rid itself of running the New Orleans franchise. And Ellison would be the kind of big-money owner who would make David Stern and the other NBA owners drool to join their club.