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Steve Ballmer Wins Bidding for Clippers With $2 Billion Price Tag (Report)
The Hollywood Reporter ^

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.


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1 posted on 05/29/2014 7:32:19 PM PDT by drewh
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To: drewh

So now, who is to say that the Sterlings didn’t set this whole thing up to get an outrageous price for the Clippers?


2 posted on 05/29/2014 7:36:27 PM PDT by SubMareener (Save us from Quarterly Freepathons! Become a MONTHLY DONOR!)
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To: drewh

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??


3 posted on 05/29/2014 7:37:13 PM PDT by Dilbert San Diego (et)
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To: drewh

Wow! f he turned that down she could probably have him committed.

Good gtief what a price.


4 posted on 05/29/2014 7:37:56 PM PDT by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat Party!)
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To: Dilbert San Diego

The headline says there was “bidding”

His was the winning bid I guess


5 posted on 05/29/2014 7:38:01 PM PDT by GeronL (Vote for Conservatives not for Republicans)
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To: drewh

Donald Sterling’s Best Investment:”The LA Clippers”;his worst:”A Telephone”!!!!!!!!!!!!!!!


6 posted on 05/29/2014 7:39:40 PM PDT by bandleader
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To: Dilbert San Diego
$2 billion is the budget of most states.

Just a ridiculous price to pay for, up until now, the most losingest team in professional sports.

7 posted on 05/29/2014 7:41:17 PM PDT by Extremely Extreme Extremist
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To: drewh

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.


8 posted on 05/29/2014 7:42:13 PM PDT by Loyalist (Now available in organic fair trade gluten-free probiotic industrial strength!)
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To: Extremely Extreme Extremist

Weren’t they in the playoffs?


9 posted on 05/29/2014 7:44:19 PM PDT by GeronL (Vote for Conservatives not for Republicans)
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To: drewh

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.


10 posted on 05/29/2014 7:49:23 PM PDT by Cicero (Marcus Tullius)
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To: Cicero

5% Nation will decry this as racist pricing


11 posted on 05/29/2014 7:51:20 PM PDT by GeronL (Vote for Conservatives not for Republicans)
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To: Dilbert San Diego

“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.

http://www.youtube.com/watch?v=8To-6VIJZRE


12 posted on 05/29/2014 7:52:05 PM PDT by Rebelbase (Tagline: optional, printed after your name on post)
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To: Extremely Extreme Extremist

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?


13 posted on 05/29/2014 7:52:20 PM PDT by rdcbn
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To: mrsmith

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.


14 posted on 05/29/2014 7:53:41 PM PDT by Oshkalaboomboom
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To: drewh

Donald Sterling should post selfies of himself rolling in money, just to irritate people.

15 posted on 05/29/2014 7:55:09 PM PDT by Vince Ferrer
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To: Vince Ferrer

Lol


16 posted on 05/29/2014 7:56:06 PM PDT by GeronL (Vote for Conservatives not for Republicans)
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To: drewh

Don’t tell Melissa Harris - Perry that the Clippers have a new massa’...


17 posted on 05/29/2014 7:56:14 PM PDT by bolobaby
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To: drewh

SOLD!


18 posted on 05/29/2014 7:59:45 PM PDT by Free Vulcan (Vote Republican! You can vote Democrat when you're dead...)
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To: Dilbert San Diego
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??

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.

19 posted on 05/29/2014 8:04:27 PM PDT by quimby
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Comment #20 Removed by Moderator

To: drewh

Sterling is one slick Jooo to unload the Clippers with this scheme he prolly cooked up.


21 posted on 05/29/2014 8:05:05 PM PDT by batterycommander (We will likely still be Majors, passed over twice, sitting in dimly-lit offices in the Pentagon.)
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To: drewh

Ballmer was PUTTIN ON THE RITZ!

https://www.youtube.com/watch?v=2uclKacCCB0


22 posted on 05/29/2014 8:08:37 PM PDT by raccoonradio
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To: drewh

The fix was in.
The NBA commissioner has as much hair as Steve Ballmer!


23 posted on 05/29/2014 8:11:25 PM PDT by minnesota_bound
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To: drewh

Whatever scheme that girl was up to looks like it didn’t work. Back to her day job, whatever that was, her ship did not come in.


24 posted on 05/29/2014 8:14:11 PM PDT by Vince Ferrer
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To: drewh
Like I said when all this blew up - they put Sterling in the driver's seat. "You want me out of the NBA so bad? It's going to cost you..."

After all the {expletive} they raised about his remarks they had to make a deal at whatever price he named. Racist? Ha! Well, maybe, or just opinionated. That doesn't matter (I know that phrase will drive lib lurkers nuts, but it doesn't). What matters is twofold. One, Sterling is one astute and shrewd SOB. Two, I wonder what kind of quiet, back-door deal the NBA made with Balmer to get him to pay up. Probably said if he wants to move the team, they'll back him. He's no-doubt now putting together a sweet deal with Seattle. Tax breaks, help with an arena, etc.

25 posted on 05/29/2014 8:14:12 PM PDT by ThunderSleeps (Stop obarma now! Stop the hussein - insane agenda!)
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To: minnesota_bound

The cost of Windows will go up $20 per copy to pay for the team.


26 posted on 05/29/2014 8:15:10 PM PDT by minnesota_bound
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To: drewh

of the $2B ... over 20% goes to state and federal capital gains taxes ... which would have been avoided if he postponed the sale until after his death.

And then the remaining 1.6B is subject to the 40% estate taxes ... leaving less than $1B.

Unless much of the shares have been donated to a family charitable trust.


27 posted on 05/29/2014 8:16:33 PM PDT by campaignPete R-CT (Let the dead bury the dead. Let the GOP bury the GOP.)
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To: drewh

Being a rassist might be the most profitable thing Sterling has ever done


28 posted on 05/29/2014 8:21:13 PM PDT by bigbob (The best way to get a bad law repealed is to enforce it strictly. Abraham Lincoln)
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To: drewh

Wow what a payday. Racism pays!


29 posted on 05/29/2014 8:35:54 PM PDT by Mike Darancette (Do The Math)
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To: drewh

I wonder if season tickets is part of the deal.


30 posted on 05/29/2014 8:50:22 PM PDT by Uncle Chip
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To: bigbob; drewh

“Being a rassist might be the most profitable thing Sterling has ever done”

Me, I could be a race-ist too...I wanna cash in! Let’s start another ‘bidding’ war! Buzz me Miss Blue!


31 posted on 05/29/2014 8:59:26 PM PDT by GGpaX4DumpedTea (I am a Tea Party descendant...steeped in the Constitutional Republic given to us by the Founders)
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To: drewh

Two billion dollars for a basketball franchise? That’s stupid money.

Sterling is laughing all the way to the bank.


32 posted on 05/29/2014 9:06:05 PM PDT by WildWeasel
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To: Extremely Extreme Extremist
Just a ridiculous price to pay for, up until now, the most losingest team in professional sports.

Team name is appropriate:

A clip[per] joint or fleshpot is an establishment (often claiming to offer adult entertainment and/or bottle service) in which customers are tricked into paying excessive amounts of money, for surprisingly low-grade goods or services.

33 posted on 05/29/2014 9:45:53 PM PDT by QT3.14
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To: drewh; NFHale; sickoflibs; GOPsterinMA

Check this out

http://nba.si.com/2014/05/29/donald-sterling-mentally-incapacitated-clippers/


34 posted on 05/29/2014 10:27:49 PM PDT by Impy (RED=COMMUNIST, NOT REPUBLICAN)
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To: All

So much for the crazy conspiracy theories from a few weeks ago that this was a setup for Magic Johnson to buy the Clips at a cut-rate price.


35 posted on 05/29/2014 11:14:45 PM PDT by Rodney Dangerfield (Has any President in history sunk to such a level of self-flattery & validation-seeking?)
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To: quimby

LA doesn’t need two basketball teams that play in the same arena...moving to Seattle makes sense....I wonder if they’ll be the Supersonics?


36 posted on 05/29/2014 11:16:51 PM PDT by dfwgator
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To: drewh

They're back!

37 posted on 05/29/2014 11:18:35 PM PDT by dfwgator
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To: dfwgator

Its interesting ‘cause tonite LA mayor was on tv praising Balmer. Magic johnson said LA could be proud.

It seems odd to pay so much over recent team sale prices.

Another odd bit from la media, a report that sterlings wife had sterling declared mentally incompetent giving her total say in the sale !


38 posted on 05/30/2014 12:01:21 AM PDT by quimby
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To: Extremely Extreme Extremist

Wow, what does this do to the market for sports teams?

If an NBA team such as the Clippers, who are the “other” team in LA, are worth $2 billion, can you imagine what a prominent team such as the Dallas Cowboys or New York Yankees are worth?


39 posted on 05/30/2014 7:27:11 AM PDT by Dilbert San Diego (et)
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To: Impy; NFHale; sickoflibs

What a mess.


40 posted on 05/31/2014 4:57:49 AM PDT by GOPsterinMA (Khent is not stable... be advised...)
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