Golden State Warriors: Their Story and Rebound

Golden State Warriors: Their Story and Rebound


Basketball, the quintessential American sport. Among all of the basketball leagues in the
world, the NBA stands as the ultimate pinnacle. It is a $6 billion industry and today we’ll
be looking at one of the few teams that have played in the NBA since it’s very beginning,
the Golden State Warriors. Basketball in mid 1940s was a vastly different
sight than what we know today. For starters, there wasn’t an NBA:
Instead, there was the American Basketball League in the East, founded 1925, and the
National Basketball League in the Midwest, founded 1937. Teams back then did play at a very high level,
but they did so in small arenas, and sometimes even in ballrooms and high school gymnasiums. What brought the basketball business to the
next level was actually the American Hockey League, or rather its president, Ukrainian
immigrant Maurice Podoloff. He got the idea of offering his league’s
ice hockey arenas, which sat empty on most nights, to basketball teams. Neither of the big basketball leagues took
him up on his offer though, and so in true American fashion he decided to make his own
league. Thus, in 1946, the Basketball Association
of America was born alongside the 11 teams that would participate in it. One of those teams was the Philadelphia Warriors,
created by Peter Tyrrell, the owner of the local hockey team. Now, building a team out of scratch is a pretty
daunting task, which is why Peter hired Eddie Gottlieb, a 30-year basketball veteran who
was also a Ukrainian immigrant. The team he assembled and coached would go
on to win the championship in the BAA’s first season. The star player in these first few years was
Joe Fulks, a first-time rookie who went on to break the single game scoring record four
different times in his career. He came to be known as one of the first high-scoring
forwards, averaging 24 points per game at a time when most teams struggled to get 70. In 1949 our friend Maurice Podoloff negotiated
the purchase of the National Basketball League. The newly-formed entity was called the National
Basketball Association, and it included 17 teams in total, including the Philadelphia
Warriors. The team’s first change in ownership happened
in 1952, when Eddie flat out bought the whole team for $25,000. The Warriors did not move beyond the Eastern
Conference playoffs until 1956, when they won the NBA title over the Fort Wayne Pistons. In 1959 the Warriors signed Wilt Chamberlain,
a basketball prodigy who became Rookie of the Year and MVP during his first season. To this day he remains the only player in
NBA history to average at least 30 points and 20 rebounds per game in one season, a
feat he accomplished seven times. By far his greatest accomplishment, however,
came on March 2nd, 1962, when the Warriors played the Knicks in Hershey, Pennsylvania. During that game Chamberlain set a once-unthinkable
record by scoring 100 points in a single game. Now, you have to remember that back then the
NBA was still not a major sports league. Chamberlain’s 100-point game was not televised
and there are no video recordings of it. In fact, there wasn’t a single member of
the press in the audience, which was only at around half capacity anyway. Nevertheless, Chamberlain’s performance
skyrocketed the NBA’s popularity and also paved the way to full integration at a time
when NBA teams were still reluctant to sign black players. After the 1962 season Eddie Gottlieb sold
the Warriors for $850,000 to a group of investors led by Diners Club, a charge card company. One of the major figures in that group was
this guy, Franklin Mieuli, a radio and television producer from San Francisco. Upon his recommendation, the new owners decided
to make a radical change: they moved the team to San Francisco. Now back in the early 60s basketball wasn’t
really that big in California, and although the San Francisco Warriors performed very
well in their first season, attendance was abysmal. They dropped from an average of over five
and a half thousand attendees to barely 3 thousand. Diners Club and the other investors weren’t
happy and wanted a way out, even if it meant folding the team, but luckily Franklin Mieuli
stepped in and bought them out, eventually becoming sole owner. From 1962 until 1977, the Warriors reached
the playoffs 10 times, advancing to 3 NBA finals. San Francisco, however, never really felt
like their home, and in fact they played most of their home games in the Oakland Coliseum
Arena. In 1971 Mieuli officially moved the team to
Oakland and rebranded them as the Golden State Warriors. In what was considered the biggest upset in
NBA history at the time, the Warriors defeated the heavily favored Washington Bullets in
a four-game sweep in 1975. Starting in 1978, however, the Warriors suffered
a nine-season drought in which they didn’t make the playoffs. Mieuli finally decided to sell the team in
1986, and he got $18 million for it from two businessmen. Under the new owners, the Warriors made the
playoffs several times, largely thanks to ‘Run TMC’, the iconic combo of Tim Hardaway,
Mitch Richmond, and Chris Mullin. In 1994 the businessmen decided to cash in
on their investment, selling the team for $119 million to entrepreneur Chris Cohan. He helped arrange an expensive renovation
of the Oakland Coliseum Arena in 1997 and in 2006 he signed a naming agreement with
Oracle to rename the venue the Oracle Arena. This agreement brought in some much needed
cash, since the Warriors were one of the few teams that didn’t own their own venue. Nevertheless, Cohan’s ownership marked the
beginning of one of the worst losing streaks in NBA history. The Warriors didn’t appear in playoffs for
12 seasons in a row, and they only managed to do so once in a brief miracle run in 2007. Suffice to say, Cohan wasn’t very popular
among the fans, and in 2010 he finally offered to sell the team. The likely buyer was Larry Ellison, the CEO
of Oracle and a lifetime Warriors fan. Once the bidding started, however, Larry got
outbid by these guys, Peter Guber and Joe Lacob. Now keep in mind that Larry was the 4th wealthiest
man in the world at that point, so everyone assumed that the new owners had overpaid dearly. The duo bought the Warriors for $450 million,
a record price for an NBA franchise that doesn’t own an arena. Despite getting new owners, the Warriors didn’t
really improve until 2013, when they made it to the second round of the NBA playoffs. Then, on May 14, 2014, the Warriors scored
a huge victory by naming Steve Kerr as head coach. He single-handedly reorganized the team and
helped kickstart the success of Stephen Curry, who is now widely regarded as the greatest
shooter in NBA history. In 2015 he was voted MVP and he led the Warriors
to their first championship since 1975. One year later, the Warriors broke the record
for the most wins in an NBA season and Curry became the first player in NBA history to
be elected MVP by a unanimous vote. Since the 2015 season, the Warriors have won
85% of their games, and as a consequence they’re now valued at $2.6 billion. Their 20-year lease of the Oracle Arena is
set to expire on June 30, 2017, but they recently negotiated a 2-year extension. This will help them ease the transition to
the new Chase Center in San Francisco, a $1 billion arena set to open in late 2019. In the current 2017 season the Warriors have
continued their dominant performance, and although the signing of Kevin Durant wasn’t
received very well, he has in fact become a crucial part of the team’s success. The 2017 finals are shaping up to be one of
the greatest showdowns of all time, with the Warriors set to face the Cleveland Cavaliers
for the third time in a row. The Warriors are expected to win, but even
if they don’t, they’ll still offer the most expensive contract in NBA history, signing
Steph Curry for another five years for a whooping $207 million. So whatever the outcome of this year’s finals,
it’s a safe bet that the Warriors will continue their stellar performance, both on the court
and financially. Thanks for watching. If you enjoyed this video, please consider
supporting us on Patreon, it would be an immense help! This is our first take on looking at a sports
team from a business perspective, so if you’d like to see more of these, leave a comment
down below. Once again, thanks a lot for watching, and
as always: stay smart.

100 Comments

  1. Apologies for the mistake at 7:11, where we show a wrong playoffs chart. The actual 2013 playoff results looked like this: http://www.landofbasketball.com/yearbyyear/2012_2013_playoffs_brackets.htm

  2. You would have a lot of fun doing a video similar to this about the famed Toronto Maple Leafs of three NHL.

  3. Do more of these videos. Helps make business seem more relatable… Up until billions are thrown out like they are M&M's. Lol

    I can see this helping a lot of people out to get them to become entrepreneurs.

  4. honestly, with the flawless editing and fantastic delivery you can explain anything and i would watch it.

  5. Beautiful work! Mind doing an episode for E-Sports? It's incredible the popularity that it has gained in the recent years, might be an interesting topic to expand on.

  6. Explain the success (or lack there of …) of the Toronto Maple Leafs, and why their prices are so damned high, and people still go see them without a Stanley Cup in 60 years. (Yes, I'm one of the fools who loves the Leafs.)

  7. As usual great videos, I watch every release of your channel, done with perfection, love the channel, as a viewer, I have a request, can you do a business view on Indian Premier League, it's the only cricket league in the top 20 wealthiest sporting league, in fact the next 25 leagues in the list don't feature cricket at all, so I want to know from an expert the reason for it's success and moreover it'll a nice challenge for you too, BTW the league has existed for only 10 years

  8. SERIOUSLY, Steve Kerr didn't do shit in terms of building this winning team. That was all MARK JACKSON.

    And also for the 2013 playoff graphic… SMH

  9. I'd love more sports videos! Do the Yankees next! They're one of the most successful sports teams of all times!

  10. no no no no, don't mix up sports with brands. although we all love some kind of sports but we don't expect/want all these sports stuff from this channel(hope you get the point). Try to cover established brands only.

  11. I would have liked to have seen more of the day to day business of salary cap and expenses vs profits and sales

  12. How about Mark Jackson. Steve Kerr did not build the team. Mark did , he was the one who drafted Curry. Please correct this!

  13. As a native Washingtonian, it pains me to say this. However, if you do make another sports-related video, could you do one on either the New York Yankees or the Dallas Cowboys.

  14. The Warriors were a good team for a couple of seasons before Steve Kerr became head coach. They were already making the playoffs before Kerr got hired. Steve Kerr inherited a team that was already winning and good, they just were missing a couple of pieces. He is not solely responsible for the Warrior turn around and success.

  15. Definitely love the take on sports so do make more. As Dutch, you should talk about some of the teams in Eredivisie Football, whether Ajax or Feyenoord.

  16. As far as Mark Jackson getting love… he deserves credit for turning a team everyone thought would be an all offense, no defense SSOL Suns clone into a team that bought in and played hard and really well on D. Yes, acquiring Iggy did help a LOT, but MJax helped mold a mediocre defender into an extremely good one (Klay) and Draymond has been the lynchpin of the D. The team jelling and being successful was mostly because Steph stayed healthy and really elevated the play of everyone around him. He was always amazing prior to the MVP years when he got a chance to play, he just had glass ankles. Guys like Klay and Barnes were too talented not to naturally develop (even if Barnes did take longer).

    But that's where the love stops. People forget how cancerous MJax's personality was. Bogut's an atheist, which didn't sit well considering how religious MJax is, and the relationship between the two was awkward at best and pretty bad at times (MJax even said rim protection is overrated, probably as a shot at Bogut). He tried turning the entire team on Festus Ezeli by making up claims of Ezeli shitting on the rest of the team behind their backs, to the point where Ezeli broke down in tears. He banned Jim Barnett, one of the most beloved people in the organization, and Jerry West from attending practices so they didn't get to constantly see how nuts he really was. He also hired yes men like Pete Myers and Lindsay Hunter to be his assistants when Mike Malone (a leftover) ended up getting the Kings HC gig after being pushed out because MJax thought he was a threat to his job, a huge reason why Harrison Barnes developed slowly. MJax was also a homophobe and said something to the effects of "I'll pray for him" after Jason Collins came out, which would never ever fly in the Bay Area (especially since team president Rick Welts is gay himself). The whole religion thing also goes way overboard… like, he also tried getting a priest to bless Steph's ankle and was convinced that Harrison Barnes was possessed by demons lol.

    And now lets get to his actual coaching. Oh god, our offense under him was DREADFUL. we had one of the worst offenses in terms of stagnancy and lack of assists/ball movement under him. Our main gameplan was Steph ISO's and predictable pick n rolls with very few spot up opportunities. His substitution patterns also would routinely cost us games. His main go to move was to go full hockey subs and have the entire bench unit in with Harrison Barnes running ISO's (oh dear god…). Not to mention we'd say plenty of David Lee and his turnstile defense in late game situations.

    MJax helped develop a defensive culture and not much else. Jerry West deserves most of the credit. Him and Bob Myers made all the right moves, but it was Jerry that threatened to resign if we had traded Klay+ for Kevin Love. If we do that, we do not win shit. We remain a mid tier team in the west and of course, never get KD.

  17. I would like that you make a video about fc barcelona real madrid or any other la liga or or english premiere league or any other valuable and successful football team.

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  19. I love your channel but this is the worst video of yours so far. Could be because all your other videos were excellent but the last 2.5 minutes were bad. Too many key things were skipped explaining their rebound. Again, I love your channel and will be a future Patreon sponsor, just wanted to give you some feedback.

  20. I have to call BS on Steve Kerr single handily changing the warriors. There was Mark Jackson who drafted Thompson, Green Barnes and attracted free agency of Lee Bogut and Iggy. Mark Jackson changed the reputation of losing when he traded out Montei Ellis and made the team around Steph Curry. I’m a Oakland native and we all know Mark Jackson is the unsung hero in this Dubs dynasty

  21. I like the vid but alot of points are missed like stephs rise its a common missconception that steph has only been good in his first mvp season but thats wrong. Also mark jackson and injuries were not adressed at all the same goes with stephs contract. Imo your not a hardcore basketball fan you seem like a casual who just did his research on stats and empty data its not wrong for me its just feels very empty .

  22. Imagine if Wilt played for warriors his whole career. Wilt, Nate Thurmond, Guy Rodgers and Rick Barry. That would have been a great team

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