Lacob Explains the Three-Step Process to Owning Successful NBA Team
When ownership changes hand, it is not often you are able to enter the mind of the owners and get a glimpse of the thought process that goes into multi-billion dollar business decisions.
For Joe Lacob, the owner of the Golden State Warriors, he had a three-phase plan in place for when he purchased the franchise in 2010.
“To be honest, I will just leave you with this,” said Lacob. “I will say that, I look at this as a three-phase process, the Warriors, this whole exercise. We bought the team with the intent of building a championship basketball team, turning the Golden State Warriors from a not-so-successful basketball franchise into a very successful one. That’s Phase 1.”
With three championships in the past four years, one can agree, that Phase 1 was a success. Lacob then continued to Phase 2 of his plan.
“Phase 2? Make it a good business,” explains Lacob. “It wasn’t a good business before. I know people like to say it was, and maybe it’s because it wasn’t a good basketball team, but we’ve obviously brought a lot of great management in here. We’ve done a good job, we’ve created a very good business, we provide our customers with great value, I think. And we’re one of the better businesses in the NBA.”
Now, Lacob believes the Warriors are in Phase 3. then talked about the plan with the Warriors moving to their new San Francisco arena in 2019.
“Now, the question is, what do we do with it all then?” said Lacob. “And I call that Phase 3. At some point, we’ll talk about that, but I want this to become more than a basketball team. I want it to become a sports entertainment, media and technology company. It’s not just a team. That will become clear over the years. You can see, we’re into eSports, which is related. We’ve got some other things that we’re working on as well. Utilize the management that’s here, utilize the resources we have, utilize the brand that we have, to turn this into something a little bit bigger. But I think that’ll all become obvious later. Right now, we’re trying to get this arena open.”
Success begins from the top and a big reason as to why the Warriors are in the position they are in right now, is because of their very intelligent ownership group and front office.