According to the LA times, Microsoft CEO, Steve Ballmer, has reportedly won the bidding for the Clippers at a staggering price of $2 billion. The plan to remove the Los Angeles Clippers from the possession of Donald Sterling seem to be moving forward. Shelly Sterling has reportedly agreed to sell the team to ex-Microsoft CEO Steve Ballmer for a whopping $2 billion dollars. If approved by the NBA, the deal will prove to be groundbreaking. The Sterling Family trust has faced outlandish pressure from inside and outside of the NBA to sell the team after Donald Sterling’s racist remarks went viral. The NBA will most likely approve the deal. Any owner it seems will be better than having Donald Sterling in the conversation.
Shelly Sterling noted that she has already signed a binding contract and all she is waiting for is final approval from the NBA to turn over the team. She was quoted as saying “I am confident that Steve will take the team to new levels of success.” Shelly has explained that as the sole trustee of the Sterling Family Trust (which owns the L.A. Clippers), she has the absolute authority to make this deal. Donald and his lawyers contest that he is still a co-owner and has no plans to sell the team. Though Donald may still have some legal claim to the team, it looks like his wife and the NBA are moving on without him.
Ballmer beat out several other contenders for the team. A source close to the matter reported Ballmer spent an hour at Shelly’s private residence in Malibu as he laid out his plans for the teams future. Magic Johnson (a victim of Sterling’s racist remarks) caught wind of the deal and tweeted “Steve Ballmer owning the Clippers is a big win for the City of LA and all the people who live in the City of Angels!” It seems the city is more than ready to move on and leave Donald in the past.
Donald Sterling still hasn’t faced the NBA owners yet though. They will be meeting in New York on Tuesday to discuss whether or not the comments made by Sterling are damaging to the league. If at least three-fourths of the owners vote for the affirmative will terminate Sterling’s ownership of the franchise. The Ballmer deal is expected to be evaluated by the NBA before Tuesday however, so that the deal can be considered during Donald’s hearing. Ballmer will be the sole owner of the team if the deal goes through. And on the behalf of everyone who is involved in the NBA we hope it does.
NBA club sales (source Forbes research)
(Photo credit: Wikipedia)
Comment Template