Skip to comments.Sterling Agrees to Sell Clippers to Ballmer for $2B, Drops Lawsuit
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.
...and he may not have to pay taxes on any of it due to a provision regarding forced sales.
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
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...
That’s a ludicrous amount.
What’s Ballmer thinking?
It wasn't a forced sale. The NBA owners never voted to expel him so this sale was done on his own accord.
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.....
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.
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.
It’s NOT YOUR BUSINESS!
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.
Well that’s a pity.
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.
I was bred and born in the briar patch, Brer Fox.”
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?)
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.
“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!
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.
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).
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.
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.
“Please, throw me in that Briar Patch”, says Brer Sterling.
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.
Maybe the whole thing was planned to achieve this outcome? Just being a devils advocate.... Stranger things have happened.
How much did Magic and Oprah make off this?
Pray America wakes up
I hope he's laughing all the way to the bank........
Thats a ludicrous amount. Whats 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.
I wonder how LeBron will look in a Clippers uniform?
LeBron irritates me, but he would complete a monster of a Clippers team. Maybe Kobe would retire lol.
Nothing that I know of.
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?
At the very least the Church will name him man-of-the-year.
Oprah goes empty handed, also.
The women’s teams??
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.
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.
Sterling obviously planned everything from the very beginning. Brillian!
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?
Magic got a used hooker!
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.
Los Angeles has the Lakers.
They don’t need, or really even want the Clippers.
I see 100 Laker bumper stickers for every Clippers.
Ballmer’s going to get a haircut with those Clippers.
For $2 billion he could probably but the entire WNBA and toss in the Lingerie League as well.