Warriors Co-Owner Will Probably Lose His Share Of The Team Over Kyle Lowry Shove
Mark Stevens has also given Lowry a formal apology.
The NBA decided on Thursday to enforce a one-year ban and $500,000 fine against Mark Stevens, the part-owner of the Golden State Warriors who shoved Raptors star Kyle Lowry during Game 3 of the NBA Finals. However, the punishments don't stop there. The Warriors part owner will likely be forced to give up his shares in the franchise next year, The Big Lead reports. It might sound like the disgraced owner's life couldn’t get any worse right now, but don't feel bad for him just yet.
According to Action Network’s Darren Rovell, if Stevens is forced to sell his stake in the Warriors, he'll be in for a huge payday. The investor reportedly bought his share of the Warriors when the team was only worth $800 million. Since then, Oakland’s valuation has soared to over $3 billion. Meaning that Stevens could sell his share and get 4.5 times what he paid to buy in.
According to experts, it wouldn’t be surprising at this point if Stevens were to sell. It certainly isn't likely that anyone in the NBA wants to be associated with the guy right now.
“A team representative must be held to the highest possible standard and the conduct of Golden State Warriors investor Mark Stevens last night was beyond unacceptable and has no place in our league,” NBA spokesman Mike Bass stated on Thursday, according to CP24.
In a formal apology, Stevens had this to say: "I take full responsibility for my actions last night at the NBA Finals and am embarrassed by what transpired."
"What I did was wrong and there is no excuse for it." Stevens continued, "Mr. Lowry deserves better, and I have reached out today in attempt to directly apologize to him and other members of the Raptors and Warriors organization," Stevens said, according to TSN.
To be denounced by NBA officials is one thing, but to be condemned by the king himself, well that’s a whole new level of shade. LeBron James got vocal about the incident on Instagram yesterday.
James wrote, "But he himself being a fan but more importantly PART-OWNER of the Warriors knew exactly what he was doing which was so uncalled for. He knew the rules more than just the average person sitting watching the game courtside so for that Something needs to be done ASAP! A swift action for his actions."