I know there have been many posts/shots about this. However, recent updates can be made. In an exclusive interview with Comcast Sportsnet Bay Area, Galatioto admitted that Ellison did in fact make the highest offer, just that it was too late. He said he could not "morally" advise Cohan to take the higher bid because a deal had already been reached in principle with the other group (read article for more).
I think we can all agree that any new owner will be exponentially better than Cohan, however this issue of "morality" is rather irksome to me. What would be worse, letting down a few people who think they have an agreement made (though nothing was official) or crush the hopes of thousands of Warriors fans who have been among the most devoted in the entire NBA? This is not to say that the new ownership group will be unsuccessful, but the general consensus among fans was Larry Ellison was the owner of choice. IMO, this is just another example that Cohan couldn't care less about the Warriors fans. Leave it to Cohan to leave us with a sour taste in our mouths on a day he is leaving! I would have never thought it could happen.