In 1977, Cohan founded Sonic Communications, which became one of the largest independently owned cable outlets in the country before he sold it in May 1998. He assumed control of the
Golden State Warriors in October 1994 prior to the
1994-95 season for a reported fee totaling at $130 million As of 2005, Cohan's net worth was around $325 million. In May 2007, Cohan was reportedly fighting a $160 million tax-evasion charge in federal court in the aftermath of his 1998 sale of Sonic Communications for more than $200 million. In May 2009,
Sports Illustrated listed the top ten best and worst owners of basketball teams, ranking Cohan as fourth worst.
SI criticized Cohan for sticking with coach
Don Nelson as part of the Warriors' generally poor performance apart from their
2007 playoff first-round upset of the top-seeded
Dallas Mavericks, and pointed out that Golden State was repeatedly rebuilding without much success. In the wake of such criticism and controversy, he finally sold the Warriors to
Peter Guber and
Joe Lacob for $450 million in July 2010. Cohan has homes in
San Francisco, California and
East Hampton, New York. ==References==