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Sterling Agrees to Sell Clippers to Ballmer for $2B, Drops Lawsuit
NBC Philadelphia ^ | 5/4/14 | Christina Cocca

Posted on 06/04/2014 3:47:09 PM PDT by DoodleDawg

Donald Sterling officially announced Wednesday that he, the NBA and his estranged wife Shelly have agreed to sell the Los Angeles Clippers to Steve Ballmer for $2 billion and various additional benefits, Sterling's lawyer told NBC News.

All disputes and outstanding issues have been resolved, and the $1 billion lawsuit against the NBA Sterling filed last week has been dropped, Sterling's lawyer Bobby Samini told NBC News exclusively. Sterling told NBC4 in an exclusive interview on Tuesday he was ready to "move on" from the team.

"I feel fabulous, I feel very good. Everything is just the way it should be, really. It may have worked out differently, but it's good. It's all good," Sterling said.

A vote by the NBA Board of Governors will be needed to finalize the sale.

Last week, the league announced that it had canceled a hearing to oust Sterling, instead moving forward to vote on the deal negotiated by his wife to sell the team. The move came on the same day Sterling's attorneys filed suit in a Los Angeles federal court against the NBA and Silver, asking for damages in excess of $1 billion.

Silver fined Sterling $2.5 million and banned him for life from the league after an audio recording surfaced in which Sterling told companion V. Stiviano not to bring black people to Clippers games.


TOPICS: News/Current Events
KEYWORDS: clippers; donaldsterling; nba; sterling
It's all over but cutting the check.
1 posted on 06/04/2014 3:47:09 PM PDT by DoodleDawg
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To: DoodleDawg

...and he may not have to pay taxes on any of it due to a provision regarding forced sales.


2 posted on 06/04/2014 3:48:46 PM PDT by gorush (History repeats itself because human nature is static)
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To: DoodleDawg

Awww...too bad

I was gonna enjoy the trial

Unless he ended up with Sonia Sotomayor the judge would just say “private conversations illegally recorded are not sufficient to cancel contracts”....and the NBA would have to fork over $1B


3 posted on 06/04/2014 3:49:49 PM PDT by Regulator
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To: DoodleDawg

Dang!

I was looking forward to a big old hairy legal battle. It would have been delicious.

Oh well, we will have to see what Ballmer does with the team...


4 posted on 06/04/2014 3:49:49 PM PDT by freedumb2003 (AGW "Scientific method:" Draw your lines first, then plot your points)
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To: DoodleDawg

That’s a ludicrous amount.

What’s Ballmer thinking?


5 posted on 06/04/2014 3:51:05 PM PDT by eddie willers
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To: gorush
...and he may not have to pay taxes on any of it due to a provision regarding forced sales.

It wasn't a forced sale. The NBA owners never voted to expel him so this sale was done on his own accord.

6 posted on 06/04/2014 3:52:13 PM PDT by DoodleDawg
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To: gorush
...and he may not have to pay taxes on any of it due to a provision regarding forced sales.

My take is that since the sale occurred before the NFL owners actually voted on forcing him to sell, he's still going to have to pay taxes on it.

Its a shame that the lawsuit was dropped tho. But my guess on that is that it was intended as a threat to encourage the owners to rapidly ok the sale to Ballmer, when they'd probably prefer the team go to one of the other groups.
7 posted on 06/04/2014 3:52:34 PM PDT by tanknetter
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To: DoodleDawg

So...the sensitive NBA thugs and PC NBA commissioner and the presstitutes get their scalp...and Sterling gets $2B. I think I see who the winner is.....


8 posted on 06/04/2014 3:52:41 PM PDT by clintonh8r (Soon, "the grateful dead" will be more than just the name of a crap band...)
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To: DoodleDawg

Team is worth about 500 million at the most.

Sterling made out of this like a bandit.

What did he even say that was so terrible? Justin Bieber has worse stuff posted on TMZ and the black mafia isn’t going after him apparently.


9 posted on 06/04/2014 3:52:46 PM PDT by TigerClaws
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To: DoodleDawg
The best part is that Magic Johnson gets nothing.
10 posted on 06/04/2014 3:53:00 PM PDT by E. Pluribus Unum ("The more numerous the laws, the more corrupt the government." --Tacitus)
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To: E. Pluribus Unum

‘cept aids


11 posted on 06/04/2014 3:54:11 PM PDT by shalom aleichem
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To: eddie willers

He got his name in the news I guess. It cost a lot. And, since he likely hasn’t a clue on how to run a franchise he will lose most if not all his investment.

People suck.


12 posted on 06/04/2014 3:54:12 PM PDT by the anti-mahdi
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To: eddie willers

Who cares.

It’s NOT YOUR BUSINESS!


13 posted on 06/04/2014 3:54:24 PM PDT by BBB333 (Q: Which is grammatically correct? Joe Biden IS or Joe Biden ARE an idiot?)
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To: Regulator
Unless he ended up with Sonia Sotomayor the judge would just say “private conversations illegally recorded are not sufficient to cancel contracts”....and the NBA would have to fork over $1B.

I think the NBA's chances of winning were very, very good. But you're right, it would have been a heck of a fight and very entertaining to watch. Probably one of the reasons why his missus was so anxious to sell.

14 posted on 06/04/2014 3:54:29 PM PDT by DoodleDawg
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To: DoodleDawg; tanknetter

Well that’s a pity.


15 posted on 06/04/2014 3:57:06 PM PDT by gorush (History repeats itself because human nature is static)
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To: DoodleDawg

That was the deal of the Century.

$2 Billion for a team that isn’t worth even $500 million dripping wet.

Donald Sterling just made a killing off of some very bad publicity.

Now he’ll donate a couple of million to that Black Church he attended last Sunday and all will be forgiven.


16 posted on 06/04/2014 3:57:48 PM PDT by P-Marlowe (There can be no Victory without a fight and no battle without wounds)
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To: DoodleDawg

“I was bred and born in the briar patch, Brer Fox.”


17 posted on 06/04/2014 3:58:55 PM PDT by dfwgator
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To: eddie willers
What’s Ballmer thinking?

Maybe that he can do for the team what he did for Microsoft? (Though even if he does that -- and much, much more -- will it be worth $2 billion?)

18 posted on 06/04/2014 4:03:21 PM PDT by Sooth2222 ("Suppose you were an idiot. And suppose you were a member of congress. But I repeat myself." M.Twain)
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To: P-Marlowe
$2 Billion for a team that isn’t worth even $500 million dripping wet.

May not be worth $2 billion, but the Milwaukee Bucks recently sold for over $550 million for a bad team in a small market;, plus a $100 million contribution towards a new arena to be matched by the seller of the team.

19 posted on 06/04/2014 4:07:54 PM PDT by SeaHawkFan
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To: TigerClaws

“Sterling made out of this like a bandit.”

I remember a scene from the movie, (was it “Breast Men?”) where they were complaining about the taxes they were paying, and they just fell down laughing! They were making so much money, that the taxes meant nothing to them!


20 posted on 06/04/2014 4:10:14 PM PDT by Dr. Bogus Pachysandra ( Ya can't pick up a turd by the clean end!)
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To: P-Marlowe
$2 Billion for a team that isn’t worth even $500 million dripping wet.

Donald Sterling just made a killing off of some very bad publicity.

Look for every other NBA owner to start giving press conferences wearing Klan hoods.

21 posted on 06/04/2014 4:13:41 PM PDT by Drew68
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To: DoodleDawg

Sterling: OK you win. Thanks for the extra $1,200,000,000 (not counting tax games, which are probably worth another $300,000,000 under the forced sale rules).


22 posted on 06/04/2014 4:14:22 PM PDT by piytar (The predator-class is furious that their prey are shooting back.)
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To: DoodleDawg

Donald Sterling, owner of the Los Angeles Clippers of the NBA has been banned for life by the league for vile racist remarks he made that were audio recorded and made public.

His mistake was that he didn’t rap the lyrics, add a few n-words, and throw in some references to women as ho’s and bitches. Then, he could have been invited to the White House to perform for the president.


23 posted on 06/04/2014 4:15:43 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: clintonh8r
Two ... BILLION ... Dollars !
24 posted on 06/04/2014 4:16:48 PM PDT by mikrofon (Nothin' But A***es)
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To: DoodleDawg

Um, my bet is Sterling’s lawyers are not idiots, so in return for Sterling dropping the suit vs the NBA, the docs say it was a forced sale.


25 posted on 06/04/2014 4:17:42 PM PDT by piytar (The predator-class is furious that their prey are shooting back.)
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To: DoodleDawg

“Please, throw me in that Briar Patch”, says Brer Sterling.


26 posted on 06/04/2014 4:19:02 PM PDT by MuttTheHoople (Ob)
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To: eddie willers
What's Ballmer thinking

That he wanted to acquire a team, the opportunity came up, and he probably won't end up on food stamps with his wealth reduced to a paltry $18 billion.

27 posted on 06/04/2014 4:19:54 PM PDT by grania
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To: clintonh8r

Maybe the whole thing was planned to achieve this outcome? Just being a devils advocate.... Stranger things have happened.


28 posted on 06/04/2014 4:26:19 PM PDT by Puppage (You may disagree with what I have to say, but I shall defend to your death my right to say it)
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To: DoodleDawg

How much did Magic and Oprah make off this?

Pray America wakes up


29 posted on 06/04/2014 4:28:21 PM PDT by bray (Palin 2016)
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To: eddie willers
I just heard Sterling bought the team for $12 million........now he sells it for $2 Billion.......

I hope he's laughing all the way to the bank........

30 posted on 06/04/2014 4:33:41 PM PDT by Hot Tabasco (By now, everyone should know that you shoot a zombie in the head. Don't try to reason with them...)
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To: eddie willers
That’s a ludicrous amount. What’s Ballmer thinking?

He has sought ownership for years. As much as anything, I think it's a guys dream toy, which I'm sure he feels he deserves. As for the premium paid, it's not that much over the reported 1.6B offered by another group. When rare opportunities come along, and you have the cash, sometimes 400 million is chump change..lol.

31 posted on 06/04/2014 4:37:02 PM PDT by catbertz
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To: catbertz

I wonder how LeBron will look in a Clippers uniform?


32 posted on 06/04/2014 4:45:24 PM PDT by dfwgator
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To: dfwgator

LeBron irritates me, but he would complete a monster of a Clippers team. Maybe Kobe would retire lol.


33 posted on 06/04/2014 4:58:13 PM PDT by catbertz
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To: bray
How much did Magic and Oprah make off this?

Nothing that I know of.

34 posted on 06/04/2014 5:24:14 PM PDT by DoodleDawg
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To: piytar
Um, my bet is Sterling’s lawyers are not idiots, so in return for Sterling dropping the suit vs the NBA, the docs say it was a forced sale.

I'm betting it doesn't. But even if it does, in order to avoid taxes Sterling has to invest the proceeds from the sale in a similar business venture, i.e. another sports team. What league will admit him as an owner?

35 posted on 06/04/2014 5:25:59 PM PDT by DoodleDawg
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To: P-Marlowe
Now he’ll donate a couple of million to that Black Church he attended last Sunday and all will be forgiven

At the very least the Church will name him man-of-the-year.

36 posted on 06/04/2014 5:27:16 PM PDT by DoodleDawg
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To: E. Pluribus Unum

Oprah goes empty handed, also.


37 posted on 06/04/2014 5:31:58 PM PDT by ridesthemiles
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To: DoodleDawg

The women’s teams??


38 posted on 06/04/2014 5:33:37 PM PDT by ridesthemiles
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To: eddie willers

Ballmer will now move the Clippers to Seattle, but he better be careful cuz he’ll have to pay the players at least $15/hr. Minimum wage.


39 posted on 06/04/2014 5:39:33 PM PDT by Old Yeller (Anything is possible, if you don't know what you're talking about.)
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To: DoodleDawg

I bought some brush ... Trimmers for $50, about a year ago.

I might be willing to say something politically-incorrect, if that will get me just $1 bil. for The Trimmers.


40 posted on 06/04/2014 5:41:49 PM PDT by First_Salute (May God save our democratic-republican government, from a government by judiciary.)
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To: All

Sterling obviously planned everything from the very beginning. Brillian!


41 posted on 06/04/2014 5:43:01 PM PDT by PAR
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To: DoodleDawg

Crap ... CNN will lose 4 hours of race baiting per day. Wonder what they can have slap happy Banister, Coyote Blitzer and the cult of death cover for those 4 hours?


42 posted on 06/04/2014 5:45:30 PM PDT by RetiredTexasVet (If you lined up the best and brightest of this administration, you'd just have a string of dim bulbs)
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To: PAR

Magic got a used hooker!


43 posted on 06/04/2014 5:45:45 PM PDT by DocJhn
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To: ridesthemiles

Even better!


44 posted on 06/04/2014 5:47:03 PM PDT by E. Pluribus Unum ("The more numerous the laws, the more corrupt the government." --Tacitus)
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To: grania
That he wanted to acquire a team, the opportunity came up, and he probably won't end up on food stamps with his wealth reduced to a paltry $18 billion.

The team is still an asset and part of his wealth. I think the next closest bid was $1.6 billion. If he can sell it in the future for more than he paid, it's not a hit to his wealth at all.

45 posted on 06/04/2014 5:49:02 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: SeaHawkFan

Los Angeles has the Lakers.

They don’t need, or really even want the Clippers.

I see 100 Laker bumper stickers for every Clippers.


46 posted on 06/04/2014 6:17:55 PM PDT by P-Marlowe (There can be no Victory without a fight and no battle without wounds)
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To: P-Marlowe

Ballmer’s going to get a haircut with those Clippers.


47 posted on 06/04/2014 11:52:13 PM PDT by Rainier1789 (My Constitution has a 2nd and 10th Amendment)
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To: ridesthemiles
The women’s teams??

For $2 billion he could probably but the entire WNBA and toss in the Lingerie League as well.

48 posted on 06/05/2014 3:46:47 AM PDT by DoodleDawg
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To: DoodleDawg; Revolting cat!; GeronL

to Baltimore?


49 posted on 06/05/2014 4:41:35 AM PDT by a fool in paradise (The new witchhunt: "Do you NOW, . . . or have you EVER , . . supported traditional marriage?")
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