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Donald Sterling’s LA Clippers sold for $2 billion to former Microsoft CEO Steve Ballmer: Report
New York Daily News ^ | 05/29/2014

Posted on 05/29/2014 5:12:11 PM PDT by SeekAndFind

That’s $2 billion with an uppercase B!

Former Microsoft CEO Steve Ballmer has apparently won the bidding war Thursday for the Los Angeles Clippers with a staggering $2 billion offer for the NBA franchise, according to the L.A. Times.

The frenzied battle to get the team from Sterling drove the franchise’s price sky high for a team that Forbes estimated was worth at $575 million in January of 2014.


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: ballmer; billionaires; clippers; donaldsterling; msn; nba; steveballmer
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For perspective:

* The Dodgers were sold in May of 2012 for $2.1 billion,

* NFL’s Jacksonville Jaguars fetched $770 million.

* The Milwaukee Bucks were the last NBA team to be sold, taking in a paltry $550 million.

1 posted on 05/29/2014 5:12:11 PM PDT by SeekAndFind
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To: SeekAndFind

Tip: Ticket prices will rise.


2 posted on 05/29/2014 5:13:17 PM PDT by Don Corleone ("Oil the gun..eat the cannoli. Take it to the Mattress.")
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To: SeekAndFind

Hey, a little prejudiced words baited in private goes a long ways


3 posted on 05/29/2014 5:13:52 PM PDT by A_Former_Democrat (Shame on Sam The Sham . . . Michael ScAM . . .$$$ grab all planned by this "handlers")
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To: SeekAndFind

I have a hard time believing Sterling isn’t going to fight the forced sale regardless of the profit.


4 posted on 05/29/2014 5:14:01 PM PDT by mgstarr ("Some of us drink because we're not poets." Arthur (1981))
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To: SeekAndFind

I am just glad that Oprah and Magic Johnson didn’t get the team. They both were disgusting during this ordeal.


5 posted on 05/29/2014 5:14:09 PM PDT by napscoordinator (Governor Scott Walker 2016 for the future of the country!)
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To: SeekAndFind

Another white privilege guy keeps the black man down./s


6 posted on 05/29/2014 5:14:30 PM PDT by dynachrome (Vertrou in God en die Mauser)
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To: SeekAndFind

Will he move the team to Seattle?


7 posted on 05/29/2014 5:14:34 PM PDT by bubbacluck (America 180)
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To: Don Corleone

According to Forbes, Steve Ballmer, 58, is the 35th richest man in the world with a net worth of $20 Billion.

http://www.forbes.com/profile/steve-ballmer/

He took 10% of his wealth and overbid for a basketball team IMHO.


8 posted on 05/29/2014 5:14:50 PM PDT by SeekAndFind
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To: SeekAndFind

LOL that’s quite a punishment Sterling got.


9 posted on 05/29/2014 5:15:12 PM PDT by cripplecreek (Remember the River Raisin.)
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To: A_Former_Democrat

RE: Hey, a little prejudiced words baited in private goes a long ways

Here’s one for conspiracy theorists out there... how do you know Sterling didn’t plot this whole thing all along in cahoots with V. Stiviano?


10 posted on 05/29/2014 5:15:59 PM PDT by SeekAndFind
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To: SeekAndFind
WHAT? It wasn't GIVEN to Black basketball players for nothing in reparations for what that SOB said in a private conversation? And it was sold to another WHITE man, THAT'S RACIST!
11 posted on 05/29/2014 5:16:05 PM PDT by Mastador1 (I'll take a bad dog over a good politician any day!)
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To: SeekAndFind

12 other NBA owners just tweeted the N-word.


12 posted on 05/29/2014 5:16:36 PM PDT by Starstruck (If my reply offends, you probably don't understand sarcasm or criticism...or do.)
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To: SeekAndFind

Moving to Seattle.


13 posted on 05/29/2014 5:16:47 PM PDT by demshateGod (The fool hath said in his heart, There is no God.)
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To: Starstruck

LMAO


14 posted on 05/29/2014 5:18:45 PM PDT by umgud
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To: SeekAndFind

Crap. I was hoping Sterling would drag the National Thug League through a couple of decades’ worth of court hearings and trials.


15 posted on 05/29/2014 5:18:58 PM PDT by SoFloFreeper
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To: cripplecreek
The only thing he's worried about is which island in the Carribean to buy.
16 posted on 05/29/2014 5:19:36 PM PDT by 1rudeboy
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To: Starstruck

Funny.


17 posted on 05/29/2014 5:19:52 PM PDT by SoFloFreeper
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To: SoFloFreeper

RE: Crap. I was hoping Sterling would drag the National Thug League through a couple of decades’ worth of court hearings and trials.

C’mon, put yourself in his position, if someone offered you over 150 times the price you paid for your property, would you say ‘No’?

I’d take the money and leave all the aggravation behind ( especially if I were 80 years old ).


18 posted on 05/29/2014 5:21:31 PM PDT by SeekAndFind
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19 posted on 05/29/2014 5:23:55 PM PDT by DJ MacWoW (The Fed Gov is not one ring to rule them all)
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To: demshateGod

I don’t follw basketball but here is a wikipedia excerpt.

In 2012, a group of investors came forward with a plan to build a new arena in Seattle’s SoDo neighborhood. The investors hope to revive the SuperSonics name and archives.[3] On October 15, 2012, the King County Council voted unanimously in favor; while the Seattle City Council voted 7-2 to approve the amended SoDo multipurpose arena proposal.[4] On January 9, 2013, media reports documented advanced negotiations for the sale of the Sacramento Kings to Seattle investors led by hedge fund manager Chris Hansen and Microsoft CEO Steve Ballmer, intent on relocating the franchise to Seattle as early as the 2013–14 NBA season.[5][6][7][8][9] On January 11, 2013, NBA reporter Matt Steinmetz reported the Kings had been sold for $525 million to the Seattle group, with both parties and the NBA subsequently declining comment.[10][11]


20 posted on 05/29/2014 5:24:28 PM PDT by kvanbrunt2 (civil law: commanding what is right and prohibiting what is wrong Blackstone Commentaries I p44)
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To: Starstruck

Sports team owners aren’t the only one who can play that game.

I’m going to post something derogatory about everyone in my craig’s list car ad and double my asking price.

Sauce for the goose being sauce for the gander . . . .

;-)


21 posted on 05/29/2014 5:25:25 PM PDT by GladesGuru (Islam Delenda Est - because of what Islam is and because of what Muslims do.)
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To: liege

look like it from wikipedia he’s tried before
In 2012, a group of investors came forward with a plan to build a new arena in Seattle’s SoDo neighborhood. The investors hope to revive the SuperSonics name and archives.[3] On October 15, 2012, the King County Council voted unanimously in favor; while the Seattle City Council voted 7-2 to approve the amended SoDo multipurpose arena proposal.[4] On January 9, 2013, media reports documented advanced negotiations for the sale of the Sacramento Kings to Seattle investors led by hedge fund manager Chris Hansen and Microsoft CEO Steve Ballmer, intent on relocating the franchise to Seattle as early as the 2013–14 NBA season.[5][6][7][8][9] On January 11, 2013, NBA reporter Matt Steinmetz reported the Kings had been sold for $525 million to the Seattle group, with both parties and the NBA subsequently declining comment.[10][11]


22 posted on 05/29/2014 5:26:25 PM PDT by kvanbrunt2 (civil law: commanding what is right and prohibiting what is wrong Blackstone Commentaries I p44)
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To: SeekAndFind

Insane valuation..


23 posted on 05/29/2014 5:27:21 PM PDT by ken5050 ("One useless man is a shame, two are a law firm, three or more are a Congress".. John Adams)
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To: Starstruck

you are very sharp


24 posted on 05/29/2014 5:29:51 PM PDT by roofgoat
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To: SeekAndFind

As I predicted: A huge premium price is being paid for the Clippers. The rumors that this was a setup to jack up the price will be circulating soon. Counting down - 10, 9, 8 ,7 ...


25 posted on 05/29/2014 5:32:53 PM PDT by InterceptPoint
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To: liege

I would rather the Clippers go to Seattle than Ballmer come to LA. ::: shudder :::


26 posted on 05/29/2014 5:33:53 PM PDT by BunnySlippers (I LOVE BULL MARKETS . . .)
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To: A_Former_Democrat

This is great news!! Bad publicity is as good as good publicity!! But for this baloney, he would never have gotten 600 million!! No way. Only NFL teams get Billion!! This is huge and he got rid of that taping slut!!! He is laughing his ass off and his lawyer just made 10 million!! Nobody cares about pro basketball!! We call it “thump Thump” You get the whole game in the last 60 seconds. Haven’t watched in 40 years!! This is so great!!


27 posted on 05/29/2014 5:35:05 PM PDT by SADMILLIE
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To: SeekAndFind

“And if I hear one more racist word from you, Mr. Sterling, I’m gonna have to up the offer to $3 billion!”


28 posted on 05/29/2014 5:35:16 PM PDT by Billthedrill
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To: InterceptPoint

I read something earlier today that the offer was $1.8 billion from Ballmer.
If true then a couple hundred additional million is chicken feed.


29 posted on 05/29/2014 5:35:42 PM PDT by deport
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To: SeekAndFind

A fool and his money are soon parted.


30 posted on 05/29/2014 5:37:02 PM PDT by DoodleDawg
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To: Starstruck

LOL!

Adam Silver is in a strait jacket by now!


31 posted on 05/29/2014 5:37:58 PM PDT by exit82 ("The Taliban is on the inside of the building" E. Nordstrom 10-10-12)
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To: mgstarr

He’s strictly a businessman. He, or his advisers recognize that he would probably have to sell regardless so it’s best to make the most of it. If he chose to fight the sale, he’d be forced to sell under duress, which would hurt the price he would fetch.

May as well sell while there were multiple bids.


32 posted on 05/29/2014 5:38:09 PM PDT by Jonty30 (What Islam and secularism have in common is that they are both death cults)
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To: mgstarr
I have a hard time believing Sterling isn’t going to fight the forced sale regardless of the profit.

If he fights it and wins he's out the $1.4 billion premium on his team. I'd go for that kind of money too.

33 posted on 05/29/2014 5:38:39 PM PDT by DoodleDawg
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To: SeekAndFind

I thought my $1,999,999,999,999.99 would get it!

Damn!!


34 posted on 05/29/2014 5:41:12 PM PDT by Fightin Whitey
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To: SeekAndFind

Sterling during this whole thing was said to be worth around 1.8 Billion. Not sure how much of that evaluation included the team. I would say he just made a windfall however you slice it. That fine of 2.5 million is looking mighty small now.


35 posted on 05/29/2014 5:41:39 PM PDT by xp38
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To: deport

Ballmer bid higher than competitors that included Los Angeles-based investors
Tony Ressler and Bruce Karsh and a group that included David Geffen and executives
from the Guggenheim Group, the Chicago-based owner of the Los Angeles Dodgers.

The Geffen group offered $1.6 billion and the Ressler-Karsh group $1.2 billion. People
familiar with both those offers said they were rejected.

http://www.latimes.com/sports/la-sp-sn-clippers-sale-ballmer-20140529-story.html


36 posted on 05/29/2014 5:41:54 PM PDT by deport
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To: Fightin Whitey
I thought my $1,999,999,999,999.99 would get it!

Put in an extra set of nines...phew! glad they didn't take it!

37 posted on 05/29/2014 5:43:56 PM PDT by Fightin Whitey
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To: SeekAndFind

2 billion? not bad.


38 posted on 05/29/2014 5:44:13 PM PDT by NormsRevenge (Semper Fi - Revolution is a'brewin!!!)
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To: deport

Forbes reports that former Microsoft CEO Steve Ballmer, who was once part of an
unsuccessful bid to acquire the Sacramento Kings and move them to Seattle, has
put in a $1.8 billion bid for the Los Angeles Clippers. Reports indicated that
Shelly Sterling, who may, or may not have been authoized to sell the team depending
on who you talk to, put a 5 p.m. Wednesday deadline on bids to be entered.

http://www.cbssports.com/nba/eye-on-basketball/24575893/report-former-microsoft-ceo-ballmer-puts-in-18-billion-bid-on-clippers


39 posted on 05/29/2014 5:45:03 PM PDT by deport
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To: demshateGod
To be owned by Howard Schultz and Oprah Winfrey.


40 posted on 05/29/2014 5:45:10 PM PDT by ConservativeStatement ("World Peace 1.20.09.")
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To: Don Corleone

Big time.

And those who tend to watch basketball, probably more than the rest of the population, will be shelling out over their indignation about their racial pride and skin colour.


41 posted on 05/29/2014 5:45:11 PM PDT by Jonty30 (What Islam and secularism have in common is that they are both death cults)
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To: Fightin Whitey

A real estate agent knocked on my door this morning and said the house 3 doors down just sold for $2,000,001. I looked at her and said and one dollar? She said bidders sometimes add the dollar just in case someone matches the 2 mill. The house sold over asking price and obviously had a bit of a bidding war.


42 posted on 05/29/2014 5:46:52 PM PDT by xp38
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To: SeekAndFind

It was estimated that the Clippers were worth around $800 million. Consider the fact Sterling bought the Clippers for $12 million.


43 posted on 05/29/2014 5:51:45 PM PDT by Hotlanta Mike ("Governing a great nation is like cooking a small fish - too much handling will spoil it." Lao Tzu)
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To: Starstruck
12 other NBA owners just tweeted the N-word.

LOL

I had a similar thought but yours is funnier.

44 posted on 05/29/2014 5:52:26 PM PDT by Veto! (OpInions freely dispensed as advice)
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To: demshateGod

Yeah sure. This whole event was set up by the NBA mafiosi. Certain to be a game plan to get an NFL team back to Los Angeles.


45 posted on 05/29/2014 5:53:20 PM PDT by Hotlanta Mike ("Governing a great nation is like cooking a small fish - too much handling will spoil it." Lao Tzu)
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To: Veto!

He should held out for a copy of Windows 7


46 posted on 05/29/2014 5:54:22 PM PDT by GeronL (Vote for Conservatives not for Republicans)
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To: SeekAndFind

$2 billion against an estimate of $5xx million....?

That’s insane, isn’t it...?


47 posted on 05/29/2014 5:55:02 PM PDT by Attention Surplus Disorder (At no time was the Obama administration aware of what the Obama administration was doing)
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To: SeekAndFind

He can buy a better girlfriend with that kind of money.


48 posted on 05/29/2014 5:59:17 PM PDT by Moonman62 (The US has become a government with a country, rather than a country with a government.)
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To: mgstarr
I have a hard time believing Sterling isn’t going to fight the forced sale regardless of the profit.

If he's really getting $2 billion, he's the winner.

49 posted on 05/29/2014 6:01:47 PM PDT by Moonman62 (The US has become a government with a country, rather than a country with a government.)
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To: Moonman62

But wait a sec....isn’t the wife in control now? How much is she getting of this deal?


50 posted on 05/29/2014 6:02:02 PM PDT by xp38
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