Yes, the Warriors sale is going to be approved. No, the approval won't become official at the current NBA Board of Governors meetings in New York.
That's the conclusion drawn by multiple sources with knowledge of the proceedings. The team of incoming owners, led by Joe Lacob and Peter Guber, is hashing out the final formalities. One source characterized the transaction as "looking good."
Lacob was in New York on Wednesday meeting with the NBA's budget and finance committee, according to one of the sources, and will meet with league officials today as well. Previous reports pointed to the NBA meetings, which are taking place Wednesday and today, as the target for the approval of the Warriors' sale. But the process is not quite done.
The new ownership group has all its paperwork in, according to one source, and the ball is in the NBA's court. Hope still remains in the organization that the sale will be approved by opening night, which is this coming Wednesday. But another source said the approval could come the first week of November.
None of the sources expressed doubt in the sale's approval, blaming the delay on the magnitude of the transaction.
One of the sources addressed rumors regarding Magic Johnson, who recently sold his 4.5 percent ownership of the Los Angeles Lakers and his 105 Starbucks outlets back to the company. The new ownership group has talked with Johnson, the source said, adding that Lacob and Guber have a
Johnson told the Los Angeles Times he would be interested in bringing an NFL team back to L.A. but hasn't had any talks with the league. He also told the Times he has no plans to purchase a stake in the Warriors.
Note: The Warriors waived guard Aaron Miles, who appeared in six preseason games, averaging 3.5 points and 2.2 assists in 14 minutes per contest.
The Associated Press contributed to this story.