Skip to comments.Steve Ballmer Wins Bidding for Clippers With $2 Billion Price Tag (Report)
Posted on 05/29/2014 7:32:19 PM PDT by drewh
Former Microsoft CEO Steve Ballmer is reportedly set to buy the Los Angeles Clippers for $2 billion.
The news came after weeks of speculation on the fate of the team since Donald Sterling was banned for life from the NBA by commissioner Adam Silver on April 29.
The sale would be the highest ever paid for a NBA team. The previous record was set last month with the sale of the Milwaukee Bucks for $550 million.
Sterling bought the Clippers in 1981 for $13.5 million.
STORY: Donald Sterling's Wife Approached by Bidders for the Clippers
Ballmer was chosen over competitors that included Los Angeles-based investors Tony Ressler and Steve Karsh and a group that included David Geffen and executives from the Guggenheim Group, the Chicago-based owner of the Los Angeles Dodgers, according to The Los Angeles Times.
It was previously reported that Shelly Sterling met with Ballmer on Sunday to discuss terms of a sale.
So now, who is to say that the Sterlings didn’t set this whole thing up to get an outrageous price for the Clippers?
Can I ask a stupid question? If the estimated value of the team was about $550 million, how can someone come along and pay an incredible $2 billion, to overpay by that much? Was there behind the scenes shenanigans to set up this deal? Was the goal to make Sterling an offer he couldn’t refuse, to make this whole Sterling controversy disappear???
And, considering that Ballmer had been active in trying to bring NBA basketball to Seattle, is there any chance the team will move to Seattle??
Wow! f he turned that down she could probably have him committed.
Good gtief what a price.
The headline says there was “bidding”
His was the winning bid I guess
Donald Sterling’s Best Investment:”The LA Clippers”;his worst:”A Telephone”!!!!!!!!!!!!!!!
Just a ridiculous price to pay for, up until now, the most losingest team in professional sports.
I am still trying to find the words to describe what Donald Sterling has done in turning a few racial slurs into a nearly $1 billion virtually tax-free profit.
That is son-of-a-bitchery of the highest order.
Weren’t they in the playoffs?
If the intention was to lower the price of the team and sell it to one of those black guys who were speculated about earlier, then it looks like a major fail.
5% Nation will decry this as racist pricing
“considering that Ballmer had been active in trying to bring NBA basketball to Seattle, is there any chance the team will move to Seattle?”
Ballmer probably has developers working on that right now.
When you are worth 20+ billion dollars and just became unemployed so you can indulge a long deferred mid life crisis, what else are you going to do?
Ballmer could have spent twice as much and would still have more money than he could ever want. This is nothing more than a toy for him.
Donald Sterling should post selfies of himself rolling in money, just to irritate people.
Don’t tell Melissa Harris - Perry that the Clippers have a new massa’...
There was a radio report today (local espn-la) that the $2B offer was contingent on moving the team to Seattle.This of couse complcates an already complex deal. Or reported deal.
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