Joe Lacob, managing partner at private equity firm Kleiner Perkins, and Peter Guber, chairman of Mandalay Entertainment, have won the bid for the NBA's Golden State Warriors, a source close to the sale has told CNBC.
The purchase price is $450 million, beating out the previous record of $401 million paid for the Suns.
Oracle CEO Larry Ellison was widely considered the favorite, but Lacob and Guber had the winning bid.