Skip to comments.DONALD STERLING SURRENDERS CONTROL OF CLIPPERS... to wife, Shelly
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 ...
AH being SO Cal resident I kinda know this would happen eventually
Next, the scissors ....
....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.
Mark Cuban, are you watching?.......................
Much blah, blah, blah here.
At the end of the day - Sterling still owns the franchise and nothing changes.
And thats good.
I believe he’s making a big mistake.
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.
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.
Price tag should be $1 billion dollars. Maybe a sheik can purchase it.
I guess it could all depend upon how estranged is his wife.
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.
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.
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.
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?
Ill chip in a buck.
Are any of the current NBA owners safe? They didn't get their money by being perfect.
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.
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.
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