TheRussianRocket. Posted May 30, 2014 Share Posted May 30, 2014 http://www.sportsnet.ca/basketball/nba/source-sterlings-wife-reviewing-bids-up-to-2b/Source: Steve Ballmer buys Clippers for $2B LOS ANGELES Shelly Sterling reached an agreement Thursday night to sell the Los Angeles Clippers to former Microsoft CEO Steve Ballmer for $2 billion in what would be a record deal if approved by the NBA, according to an individual with knowledge of the negotiations. The individual, who wasnt authorized to speak publicly, told The Associated Press that Ballmer and the Sterling Family Trust now have a binding agreement. The deal now must be presented to the NBA. Shelly Sterling negotiated the sale after her husband, Donald Sterling, made racist remarks that were made public. The remarks included Sterling telling girlfriend V. Stiviano not to bring blacks to Clippers games, specifically mentioning Hall of Famer Magic Johnson. Donald Sterling must also approve the final agreement as a 50 per cent owner. Ballmer beat out bids by Guggenheim Partners and a group including former NBA All-Star Grant Hill. On Thursday, Magic Johnson posted on his Twitter account: "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!" Its unclear if the deal will go through. The individual said that though Donald Sterling was not involved in the negotiations, "at the end of the day, he has to sign off on the final process. Theyre not going to sell his 50 per cent without him agreeing to it." Donald Sterlings attorney says that wont happen. "Sterling is not selling the team," said his attorney, Bobby Samini. "Thats his position. Hes not going to sell." ... So his wife has reached an agreement with a buyer and this douche still won't sign off on the team? What an ignorant prick. Shows his personality losing the rights to the team and then not doing anything and making it an awkward situation for everyone. And for $2 billion?! That's a crazy amount of profit and yet he still won't. Will be interesting so see what comes of this.. Link to comment Share on other sites More sharing options...
Bure010 Posted May 30, 2014 Share Posted May 30, 2014 2 billion? holy crap lol didn't he buy the team in the early 90's originally for like 15 million? Link to comment Share on other sites More sharing options...
Ghostsof1915 Posted May 30, 2014 Share Posted May 30, 2014 I mentioned this in the NBA thread. He does know it's the Clippers and not the Lakers right? Link to comment Share on other sites More sharing options...
Absent Canuck Posted May 30, 2014 Share Posted May 30, 2014 2 billion? holy crap lol didn't he buy the team in the early 90's originally for like 15 million? I think it was 1981 and it was $15mil Nice profit Link to comment Share on other sites More sharing options...
LostViking Posted May 30, 2014 Share Posted May 30, 2014 Why doesn't she just sell her 50%? Why would she try to sell something that doesn't belong to her? The lifetime ban may also include collecting of any profits (I have no clue as to the details), which would make it pointless to sell. On the other hand, if he is forced to sell at a later time then the value will go down considerably because he will be backed into a corner, might be smart to make the move now. At the end of the day, we're talking crazy money, it really doesn't matter and won't impact lifestyle one iota, its just names on pieces of paper at this point, as it always is when one reaches such levels of wealth. Link to comment Share on other sites More sharing options...
Common sense Posted May 30, 2014 Share Posted May 30, 2014 http://www.sportsnet.ca/basketball/nba/source-sterlings-wife-reviewing-bids-up-to-2b/ So his wife has reached an agreement with a buyer and this douche still won't sign off on the team? What an ignorant prick. Shows his personality losing the rights to the team and then not doing anything and making it an awkward situation for everyone. And for $2 billion?! That's a crazy amount of profit and yet he still won't. Will be interesting so see what comes of this.. Why should he? He's still 50% owner even if he has no day-to-day affairs with it anymore. Quite frankly, the idea that other owners can force him to sell the team in the first place is asinine. Link to comment Share on other sites More sharing options...
Lil B From The Pack Posted May 30, 2014 Share Posted May 30, 2014 I could be wrong, but I believe Sterling already allowed his wife to negotiate a sale including his part of the team too. Link to comment Share on other sites More sharing options...
Brendan Gaunce Posted May 30, 2014 Share Posted May 30, 2014 fucking gold digger Link to comment Share on other sites More sharing options...
Canuck or Die Posted May 30, 2014 Share Posted May 30, 2014 Clippers are worth $2 Billion? Link to comment Share on other sites More sharing options...
Mustapha Posted May 30, 2014 Share Posted May 30, 2014 Why should he? He's still 50% owner even if he has no day-to-day affairs with it anymore. Quite frankly, the idea that other owners can force him to sell the team in the first place is asinine. Agree. Whatever people think of Donald Sterling, forcing someone to move an asset when they haven't even committed a crime doesn't strike me as very balanced. Meanwhile, the gold digging mistress gets paid out as what, a 'victim'? Extortion IS a crime, people. Land of the free indeed. Link to comment Share on other sites More sharing options...
MJDDawg Posted May 30, 2014 Share Posted May 30, 2014 The Lakers are valued at $1.35 Billion so this sale price is ridiculously over priced. But I guess that's the price to be paid to make the old racist go away without a lawsuit. His threats to the league are now not about money but about his integrity. If the league provides some type of statement or wording that paints him in a better light and as non-racist, he'll take the money and run. Link to comment Share on other sites More sharing options...
The Magician Posted May 30, 2014 Share Posted May 30, 2014 Sterling bought the Clippers in 1981 for $12.5 million. As of 2014, the team is valued at $575 million by Forbes magazine. Pretty insane they got 2 billion I'd sign and run with it. Link to comment Share on other sites More sharing options...
viking mama Posted May 30, 2014 Share Posted May 30, 2014 I think it was 1981 and it was $15mil Nice profit Sterling should sell the team & just let it go....especially - if his business-partners in the NBA come to the proper consensus that this is what needs to be done. But, mark my words, ...this was not only about some racsist comments dropped in his home. That's the pretense...but clearly an organized-sting & campaign was afoot to take one of this man's chief assets away from him. ...now that it is profitable. Even-tho' Sterling may have paid just $12.5 million for the Clippers 33 yrs ago...he sank millions into the team when it was a losing enterprise over the past 30 years. The maintenance, upgrades & ever-inflationary pay-rolls over that time...were signifigant. The 2$ billion sale-price must be including some other properties, amenities, or rights... to make-up the difference from the $575 million the Clippers are said to be currently valued at by Forbes. Everything needs to be viewed in proper context. This man is nearing the end of his life...and its ironic that his thank-you for saving & financing the turn-around of a failing NBA franchise...is public vilification & a kick in the pants. In his 80's you say?! That's a very challenging time. Is it any wonder his out-moded opinions just won't fade away...when the solution is not counselling...but an over-swing of the pendullum & villification for someone engaging in a sensitive dialogue that could have even influenced his opinions to the contrary? Is this not an example of....ageism? Link to comment Share on other sites More sharing options...
TheHitman Posted May 30, 2014 Share Posted May 30, 2014 Move 'em to Seattle or Vancouver! Link to comment Share on other sites More sharing options...
canucks155 Posted May 30, 2014 Share Posted May 30, 2014 If the Bucks can get sold for $550m, then the Clippers should be sold for around this much. Great investment by Ballmer. After each year, almost every teams' value has gone up. It's a big and wealthy market w/ lots of potential for making some green. The price IMO is just a bit high, but that's because there were numerous celebs/billionaires and u had to overpay to get them. I'm happy for the bandwagon Clip fans, they get a new owner who doesn't look like he's about to die... Link to comment Share on other sites More sharing options...
Monteeun Posted May 30, 2014 Share Posted May 30, 2014 Sterling should sell the team & just let it go....especially - if his business-partners in the NBA come to the proper consensus that this is what needs to be done. But, mark my words, ...this was not only about some racsist comments dropped in his home. That's the pretense...but clearly an organized-sting & campaign was afoot to take one of this man's chief assets away from him. ...now that it is profitable. Even-tho' Sterling may have paid just $12.5 million for the Clippers 33 yrs ago...he sank millions into the team when it was a losing enterprise over the past 30 years. The maintenance, upgrades & ever-inflationary pay-rolls over that time...were signifigant. The 2$ billion sale-price must be including some other properties, amenities, or rights... to make-up the difference from the $575 million the Clippers are said to be currently valued at by Forbes. Everything needs to be viewed in proper context. This man is nearing the end of his life...and its ironic that his thank-you for saving & financing the turn-around of a failing NBA franchise...is public vilification & a kick in the pants. In his 80's you say?! That's a very challenging time. Is it any wonder his out-moded opinions just won't fade away...when the solution is not counselling...but an over-swing of the pendullum & villification for someone engaging in a sensitive dialogue that could have even influenced his opinions to the contrary? Is this not an example of....ageism? I don't think that's completely true. Many people felt he kept the team close to the bottom. The reason they are winning now is because someone told him that he make more money if he actually win games. Before that he was a total cheapskate. I think he would trade away potential good players so he wouldn't have to pay them big. And its not like this is the first time Sterling has these kind of attitudes. But i do agree with you in some sense. The racist comments was the perfect thing to use against him. Perhaps someone hated him enough. If I was more cynical, i would also assume someone sent the woman into his life. Link to comment Share on other sites More sharing options...
Xbox Posted May 30, 2014 Share Posted May 30, 2014 Looks like Donald doesnt have any power or say in it. Ramona Shelburne ✔ @ramonashelburne Follow Espn has learned that experts had declared Donald Sterling mentally incapacitated, leaving Shelly as sole trustee & power to sell the team 11:04 PM - 29 May 2014 Link to comment Share on other sites More sharing options...
Canuck or Die Posted May 30, 2014 Share Posted May 30, 2014 If the Bucks can get sold for $550m, then the Clippers should be sold for around this much. Great investment by Ballmer. After each year, almost every teams' value has gone up. It's a big and wealthy market w/ lots of potential for making some green. The price IMO is just a bit high, but that's because there were numerous celebs/billionaires and u had to overpay to get them. I'm happy for the bandwagon Clip fans, they get a new owner who doesn't look like he's about to die...How is this a good investment at $2 billion? Maybe if this was the Lakers, sure. But the Clippers? Link to comment Share on other sites More sharing options...
EmployeeoftheMonth Posted May 30, 2014 Share Posted May 30, 2014 How is this a good investment at $2 billion? Maybe if this was the Lakers, sure. But the Clippers? He'll make that money back in no time. Even as a garbage franchise that team makes money hand over fist. Link to comment Share on other sites More sharing options...
viking mama Posted May 30, 2014 Share Posted May 30, 2014 I don't think that's completely true. Many people felt he kept the team close to the bottom. The reason they are winning now is because someone told him that he make more money if he actually win games. Before that he was a total cheapskate. I think he would trade away potential good players so he wouldn't have to pay them big. And its not like this is the first time Sterling has these kind of attitudes. But i do agree with you in some sense. The racist comments was the perfect thing to use against him. Perhaps someone hated him enough. If I was more cynical, i would also assume someone sent the woman into his life. Actually,... the history of the Clippers is that they seemed to have been "jinxed" for a time. After Sterling purchased the Clippers franchise, the team was frequently hit with a series of season-plaguing injuries to its' star-players. They were moved out of San Diego & up-rooted a number of times after that...until they eventually became another new tennant of the Staples Centre. Sterling turned down a great offer to move the team to Anaheim, where he would have been paid 33 $ million over 6 years to share an up-graded facility with the ANA Ducks at the Pond...or hecould have gone to a proposed 94 $ million Sports Arena directly across from where his team was presently housed. He stuck to his guns & chose to go to the new Staples Centre, instead. Sterling was at odds with league-politics in this, as he had been at other times in his tenure as an NBA owner.....clearly demonstrating the he was NOT willing to jump thru every hoop that they wanted him to. Yet, his financial instincts, have been correct. Will the Clippers now be moved....to full-fill the earlier wishes the NBA may have had for them? Maybe not..as Sterling proved that LA will easily sustain 2 franchises. Either way, Sterling is now a very old man...has cancer...& appears to be plagued by border-line dementia. I see all of this piling-on as super hypocritical...especially of a league & their celebrity-fans who've all been clamouring to snatch-away his very precious toy. Simple do-gooders...with NO elements of greed or vindictiveness there at all,.. you say? Righhhhhht.... Link to comment Share on other sites More sharing options...
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