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.
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 . . . .
;-)
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]
Insane valuation..
you are very sharp
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 ...
I would rather the Clippers go to Seattle than Ballmer come to LA. ::: shudder :::
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!!
“And if I hear one more racist word from you, Mr. Sterling, I’m gonna have to up the offer to $3 billion!”
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.
A fool and his money are soon parted.
LOL!
Adam Silver is in a strait jacket by now!
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.
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.
I thought my $1,999,999,999,999.99 would get it!
Damn!!
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.
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
Put in an extra set of nines...phew! glad they didn't take it!
2 billion? not bad.
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.
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