Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

DONALD STERLING SURRENDERS CONTROL OF CLIPPERS... to wife, Shelly
TMZ ^ | 05/23/2014 | TMZ Staff

Posted on 05/23/2014 8:45:04 AM PDT by SeekAndFind

Donald Sterling is no longer the controlling owner of the Los Angeles Clippers ... TMZ Sports has learned he just surrendered control to his estranged wife, Shelly Sterling, and she is now secretly negotiating with the NBA to sell the team ... ON HER TERMS.

Sources close to the Clippers organization tell us ... Donald made the decision because he saw the handwriting on the wall -- as long as he remained in control, the NBA would order an involuntary sale of the team.

Our sources say Shelly and her lawyer, Pierce O'Donnell, have been secretly meeting with NBA Commissioner Adam Silver and NBA lawyers to "resolve the dispute amicably." We're told Shelly realizes the NBA wants the team sold, but she has significantly more leverage and credibility with the league than Donald. Her end game is simple -- she won't object to the sale, but SHE wants to call the shots.

(Excerpt) Read more at tmz.com ...


TOPICS:
KEYWORDS: clippers; donaldsterling; racism

1 posted on 05/23/2014 8:45:04 AM PDT by SeekAndFind
[ Post Reply | Private Reply | View Replies]

To: SeekAndFind

AH being SO Cal resident I kinda know this would happen eventually


2 posted on 05/23/2014 8:50:07 AM PDT by SevenofNine (We are Freepers, all your media bases belong to us ,resistance is futile)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind
DONALD STERLING SURRENDERS CONTROL OF CLIPPERS

Next, the scissors ....

3 posted on 05/23/2014 8:50:57 AM PDT by mikrofon (**No Running**)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

....and a (vile) man’s private conversation and personal thoughts can result in societal approval of the loss of his property.

Welcome to the Union of Soviet Socialist Republics.


4 posted on 05/23/2014 8:51:26 AM PDT by SoFloFreeper
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Mark Cuban, are you watching?.......................


5 posted on 05/23/2014 8:51:31 AM PDT by Red Badger (Soon there will be another American Civil War. Will make the first one seem like a Tea Party........)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Much blah, blah, blah here.

At the end of the day - Sterling still owns the franchise and nothing changes.

And thats good.


6 posted on 05/23/2014 8:52:11 AM PDT by Responsibility2nd (NO LIBS. This Means Liberals and (L)libertarians! Same Thing. NO LIBS!!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

I believe he’s making a big mistake.

Just saying.


7 posted on 05/23/2014 8:53:19 AM PDT by Cringing Negativism Network (http://www.census.gov/foreign-trade/balance/c5700.html#2013)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Responsibility2nd

For now. The owners have a vote schedule for June 3rd, of course if the Mrs is in the process of selling they might not bother with the vote.


8 posted on 05/23/2014 8:54:21 AM PDT by discostu (Seriously, do we no longer do "phrasing"?!)
[ Post Reply | Private Reply | To 6 | View Replies]

To: SeekAndFind

This is going to be fun to watch.

I’m guessing she’s going to demand an outrageous price for the team, probably along with certification by the NBA that the sale was involuntary, so she won’t have to pay any taxes.

I’m guessing that the NBA want this to go away so badly, and without a lot of additional publicity, that they play ball with her. The eventual buyer’s going to get hosed in the deal tho. Assuming Magic Johnson can even raise the money, it’ll only serve to give him the team ownership he desperately craves. He’ll NEVER get a positive financial ROI.


9 posted on 05/23/2014 8:57:35 AM PDT by tanknetter
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Price tag should be $1 billion dollars. Maybe a sheik can purchase it.


10 posted on 05/23/2014 8:57:36 AM PDT by windcliff
[ Post Reply | Private Reply | To 1 | View Replies]

To: Responsibility2nd

I guess it could all depend upon how estranged is his wife.


11 posted on 05/23/2014 8:57:44 AM PDT by deport
[ Post Reply | Private Reply | To 6 | View Replies]

To: mikrofon; SevenofNine; Responsibility2nd

Correct me if I am wrong but...

I think the worst case scenario for Sterling is, he gets HALF of what it’s worth if they were to get divorced.


12 posted on 05/23/2014 8:57:52 AM PDT by SeekAndFind
[ Post Reply | Private Reply | To 3 | View Replies]

To: windcliff

RE: Price tag should be $1 billion dollars. Maybe a sheik can purchase it.

If I were Carlos Slim of Mexico, I’d off load the money-losing New York Times and use the money to purchase the Clippers instead.


13 posted on 05/23/2014 8:58:58 AM PDT by SeekAndFind
[ Post Reply | Private Reply | To 10 | View Replies]

To: SeekAndFind

Unexpected? Not!


14 posted on 05/23/2014 8:59:07 AM PDT by Don Corleone ("Oil the gun..eat the cannoli. Take it to the Mattress.")
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

I watch with baited popcorn crunching breath as Leftist roundball team owners get skewered by the race baiters who should be backing these zer0bama funding gazillionairs in a thug ball sport that could cease to exist immediately and I would not shed a tear.

15 posted on 05/23/2014 8:59:09 AM PDT by Vaquero (Don't pick a fight with an old guy. If he is too old to fight, he'll just kill you.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Red Badger
So Sterling surrenders control of the Clippers to his wife.

He loses his personal property - CA is mean in divorces to men.

Is his next step to sue the blackmailing ex-girlfriend for $2 billion? There was a time ...

BTW, where does the Dolphin player go to get his reputation and $2,500 back for criticizing a reality show?

16 posted on 05/23/2014 8:59:27 AM PDT by texas booster (Join FreeRepublic's Folding@Home team (Team # 36120) Cure Alzheimer's!)
[ Post Reply | Private Reply | To 5 | View Replies]

To: windcliff

Ill chip in a buck.


17 posted on 05/23/2014 8:59:43 AM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
[ Post Reply | Private Reply | To 10 | View Replies]

To: Red Badger
Mark Cuban, are you watching...

Are any of the current NBA owners safe? They didn't get their money by being perfect.

18 posted on 05/23/2014 9:00:30 AM PDT by grania
[ Post Reply | Private Reply | To 5 | View Replies]

To: SeekAndFind

This should never have reached this point except the other owners and commissioner are a bunch of cowards and hypocrites. America, the home of the weak and cowards and the land of the slaves.


19 posted on 05/23/2014 9:01:12 AM PDT by mulligan (I)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Get your sodapop and popcorn, the show is just starting.

I do not believe the League had a legal leg to stand on with Sterling himself based on his private conversations made public without his knoweldge or apporval.

Now, with his wife’s rights in the mix, and with her actual controlling authority now established, I do not believe there is a way in Hades the NBA can make their demands stick.


20 posted on 05/23/2014 9:01:31 AM PDT by Jeff Head
[ Post Reply | Private Reply | To 1 | View Replies]

To: discostu

The other owners have a problem in that if they order the sale, the Sterlings could refuse and provoke a court fight.

A fight that, thanks to discovery and the ability of the Sterlings to finance an army of PIs and informants, would turn very very ugly as other owners gave THEIR dirty laundry aired out in court as the Sterlings were unfairly targeted for discrimination ...


21 posted on 05/23/2014 9:01:36 AM PDT by tanknetter
[ Post Reply | Private Reply | To 8 | View Replies]

To: SeekAndFind

Go Shelly —

The price just went up


22 posted on 05/23/2014 9:02:11 AM PDT by Uncle Chip
[ Post Reply | Private Reply | To 1 | View Replies]

To: tanknetter

That’s the illusion. The reality is the other owners’ behavior won’t matter one bit in a court fight. They have all the headlines they need to prove his ownership had become detrimental to the league, and the league constitution to say that they have the right to vote out an owner that has become detrimental to the league. Their dirty laundry hasn’t generated the headlines so it is simply immaterial, heck even with headlines it would be immaterial because they aren’t the question. The question is do they have the right to jettison an owner who has proven detrimental to the league, the answer is yes, and he has, and he’ll be gone.

Which is why he’s bailing. He’s got good lawyer and long history of being involved in messy litigation. If he thought he could win he’d fight. He isn’t fighting. If the other owners had a problem THEY’D be the ones caving.


23 posted on 05/23/2014 9:06:30 AM PDT by discostu (Seriously, do we no longer do "phrasing"?!)
[ Post Reply | Private Reply | To 21 | View Replies]

To: SeekAndFind

Actually, I do think you’re wrong.

My understanding is that the team is “owned” by the Sterling family trust, not Sterling himself. He (or, more accurately now his wife) is just the manager of the trust.

That adds all sorts of layers to the complexity of the situation.


24 posted on 05/23/2014 9:06:51 AM PDT by tanknetter
[ Post Reply | Private Reply | To 12 | View Replies]

To: SeekAndFind

Well under Cali law yeah he would

We talk about NBA rules different rules


25 posted on 05/23/2014 9:10:17 AM PDT by SevenofNine (We are Freepers, all your media bases belong to us ,resistance is futile)
[ Post Reply | Private Reply | To 12 | View Replies]

To: SoFloFreeper

he has every right to stand his ground....the accusations are baseless....stupid banter from another viagra needing rich eltiist on the make who by the way said nothing criminal nor threatening....


26 posted on 05/23/2014 9:12:44 AM PDT by cherry
[ Post Reply | Private Reply | To 4 | View Replies]

To: SoFloFreeper

he has every right to stand his ground....the accusations are baseless....stupid banter from another viagra needing rich eltiist on the make who by the way said nothing criminal nor threatening....


27 posted on 05/23/2014 9:13:04 AM PDT by cherry
[ Post Reply | Private Reply | To 4 | View Replies]

To: Responsibility2nd
How does he "still own the franchise" if it's sold?

...TMZ Sports has learned he just surrendered control to his estranged wife, Shelly Sterling, and she is now secretly negotiating with the NBA to sell the team ... ON HER TERMS.

28 posted on 05/23/2014 9:16:31 AM PDT by Jane Long (While Marxists continue the fundamental transformation of the USA, progressive RINOs assist!)
[ Post Reply | Private Reply | To 6 | View Replies]

To: Uncle Chip

Go Shelly —

The price just went up


Run and tell Magic and the Oprah!


29 posted on 05/23/2014 9:19:04 AM PDT by Jane Long (While Marxists continue the fundamental transformation of the USA, progressive RINOs assist!)
[ Post Reply | Private Reply | To 22 | View Replies]

To: Jane Long

How does he “still own the franchise” if it’s sold?

_________________________________________

The franchise isn’t sold. Nor is it likely to be sold.

TMZ is a gossip site. They’re just speculating


30 posted on 05/23/2014 9:21:26 AM PDT by Responsibility2nd (NO LIBS. This Means Liberals and (L)libertarians! Same Thing. NO LIBS!!)
[ Post Reply | Private Reply | To 28 | View Replies]

To: Red Badger

As I frequent some sports forums, believe me, there are quite a few on those forums who want to condemn anyone not adhering to the liberal agenda. These nuts want to go after the Orlando Magic owner because he has donated to Christian orgs. which do not support homo marriage.


31 posted on 05/23/2014 9:22:58 AM PDT by driftless2 (:-))
[ Post Reply | Private Reply | To 5 | View Replies]

To: Responsibility2nd

TMZ is a gossip site. They’re just speculating


But, but they have a “sports” division and everything ;) /s


32 posted on 05/23/2014 9:29:23 AM PDT by Jane Long (While Marxists continue the fundamental transformation of the USA, progressive RINOs assist!)
[ Post Reply | Private Reply | To 30 | View Replies]

To: tanknetter

If it classified as an involuntary sale, not only will the Sterlings be able to get a great price for the team; not paying taxes will will result in a huge financial gain not otherwise possible.

Donald Sterling must realize how much better off he will be financially than if he just sold the team on a voluntary basis.


33 posted on 05/23/2014 9:32:51 AM PDT by SeaHawkFan
[ Post Reply | Private Reply | To 9 | View Replies]

To: Responsibility2nd
Much blah, blah, blah here.

At the end of the day - Sterling still owns the franchise and nothing changes.

Yep. It's an interesting move, though. Mrs. Sterling is not the unsympathetic figure that her husband is (regardless of whether anything he did or said was technically wrong). If the league or any of the NBA players who so love to mouth-off try to smear her, her lawyers will be waiting.

34 posted on 05/23/2014 9:34:22 AM PDT by Charles Martel (Endeavor to persevere...)
[ Post Reply | Private Reply | To 6 | View Replies]

To: Jane Long

He might still own the team while “surrendering control.”

He and his wife simply agree that she is CEO, or chairman of the board, however their ownership papers so designate.

That doesn’t mean he isn’t calling her every hour to issue orders, etc...but of course it doesn’t mean she is listening either.

He has to hope she will continue working in both their interests...though their interpretation of that may differ.

But if she goes completely rogue (so to speak) and wants to divorce, then both their ownership interests will suffer terribly, because they won’t be selling a full ownership...they will each be half owners (or something like that) and each will lose a great deal in valuation.

Fascinating situation. They may now find themselves more closely aligned, and working together more closely, than they probably ever have.


35 posted on 05/23/2014 9:56:22 AM PDT by Fightin Whitey
[ Post Reply | Private Reply | To 28 | View Replies]

To: tanknetter

She also has a massive amount of good will / sympathy. The betrayed wife of a racist gets control of the team. She is now the only female owner/manager of an NBA team and wants the money for a team she’ll say she helped build.
The public wouldn’t care as much if Mr. Sterling was forced into a corner, faced massive fines and forcibly divested. Put the old lady whose husband was dinking a much younger woman at the negotiating table, and the NBA looks really bad for ripping her off.


36 posted on 05/23/2014 10:03:39 AM PDT by tbw2
[ Post Reply | Private Reply | To 9 | View Replies]

To: texas booster

Sue Magic Johnson for collusion with the girlfriend to take over a billion in property. And, if his wife divorces him, for undermining his marriage AND alienation of affection of the girlfriend.


37 posted on 05/23/2014 10:04:49 AM PDT by tbw2
[ Post Reply | Private Reply | To 16 | View Replies]

To: tbw2

She doesn’t have any goodwill. She’s just as mixed up in the racism scandal as he is because the old stories (most of which involved her) came up. And they were estranged before all this started, so she’s not really betrayed.

And she won’t get ripped off. It’s in the NBA’s best interest for the Clippers to have a fair market sale, the previous few prices set the negotiating start point for the next few sales. If the Clippers go too cheap the next 3 guys who sell look to lose money on the deal.


38 posted on 05/23/2014 10:09:50 AM PDT by discostu (Seriously, do we no longer do "phrasing"?!)
[ Post Reply | Private Reply | To 36 | View Replies]

To: SoFloFreeper
....and a (vile) man’s private conversation and personal thoughts can result in societal approval of the loss of his property.

Welcome to the Union of Soviet Socialist Republics.

Which is why I'm not surprised, and not even particularly angry at the federal judges, when every one in the nation (both Republican and Democrat nominees) seem to be breaking down the court room doors in a rush to throw out voter passed gay marriage bans and write all kinds of glowing praise of homosexuality in their ruling. They may be spineless cowards, but they ain't stupid, they know if the rule the "wrong" way, their careers are over and they and their families might even be in physical danger. We are starting to see what it was like living in the old Soviet Union, where you either vigorously spouted the "party line" or you could and would have everything taken from you...or worse. We haven't reached the "or worse" stage yet, but don't for a minute think that those on the left wouldn't lock "dissidents" up if they thought they could get away with it

39 posted on 05/23/2014 10:23:24 AM PDT by apillar
[ Post Reply | Private Reply | To 4 | View Replies]

To: SeekAndFind

It would not surprise me if he takes some of the profits he made from the team over the years and take out contracts on those who forced him out of his own property. They destroyed his life for no reason, he should have theirs destroyed.


40 posted on 05/23/2014 10:28:25 AM PDT by John O (God Save America (Please))
[ Post Reply | Private Reply | To 1 | View Replies]

To: Responsibility2nd
At the end of the day - Sterling still owns the franchise and nothing changes.

Delay and obfuscate..... Good move by The Donald! He doesn't own the team (wink wink) so they can't beat up on him anymore. And they don't have the cojones to go after his wife.

The league will accept rather than take on Mr D and his high priced lawyers and getting that legal stuff splashed all over the sports section for months

 

41 posted on 05/23/2014 11:05:51 AM PDT by dennisw (The first principle is to find out who you are then you can achieve anything -- Buddhist monk)
[ Post Reply | Private Reply | To 6 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson