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.
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.