Steve Ballmer To Buy Los Angeles Clippers For $2 Billion

[engine]

I heard about the mess over the Clippers management and thought there's little hope. Who'd have thought that Steve Ballmer would step up!
Effectively, it has rescued the Clippers.

Microsoft's former CEO Steve Ballmer has reached a deal to buy the Los Angeles Clippers basketball team for a potential record deal of $2bn (£1.2bn).

Shelly Sterling, who owns the Clippers with her husband through a trust, said she was "delighted" with the deal.Steve Ballmer To Buy Los Angeles Clippers For $2 Billion [bbc.co.uk]

[LifeinAsia]

Well, The NBA still has to approve it (most likely to be approved- they want it done, although they will most likely require some type of guarentee that Ballmer will keep the team in L.A.).

And don't count out any Donald Sterling legal maneuvers. It wouldn't surprise me if he claims he didn't actually give Shelly controlling interest (remember, she is his estranged wife, at least to the public), then she counter-sues him and tries to declare him mentally unfit. During the ensuing legal battles, nothing can be done about selling the team, giving the Sterlings leverage to issue all types of demands to the NBA (like removing the lifetime ban, formal apology, etc.) to let things move on.

For those not subjected to the drama on a daily basis, Sterling is a former lawyer, and he and his wife have no problems suing people, even when they know they won't win, just to be a huge PITA.

[Mackin_USA]

"Well, The NBA still has to approve it (most likely to be approved- they want it done, although they will most likely require some type of guarentee that Ballmer will keep the team in L.A.)."

Team MUST STAY in L.A.

For those not subjected to the drama on a daily basis, Sterling is a former lawyer, and he and his wife have no problems suing people, even when they know they won't win, just to be a huge PITA. "

And California is a VERY litigious state!

[tangor]

Ballmer... has experience taking a good company down interesting (and expensive) paths. Will be interesting to see what he does with the Clippers. After all, can't hurt, right? Right? :)

[phranque]

ballmer was already vetted by the nba from when he tried to buy the sacramento kings recently.
the arena (staples center) lease agreement will likely keep the clippers in la for a while.

things are looking good for the clippers but they will always be tenant #2 in la.
but $2B?!? for the clippers? really?

[LifeinAsia]

So from what I heard today on the drive home:
- the NBA already approved the sale
- Donald Sterling filed a $1 billion lawsuit against the NBA
- the sales agreement includes language to reimburse the NBA if Donald Sterling's lawsuit somehow succeeds
- Donald Sterling has been diagnosed with Alzheimers and has been pretty much declared mentally unfit

With all this entertainment, who needs cable TV?

[tangor]

Left out gorgeous devious girlfriends, snarky ex-wife, salacious innuendo, pc speak drama, political fallout, old boy's club, old boy money... Yup, in addition to all above there's a hit prime time soap opera in there!

[engine]

This could easily be a soap opera!

Los Angeles Clippers owner Donald Sterling has pulled his support from a deal to sell the team to former Microsoft CEO Steve Ballmer and will pursue his $1 billion federal lawsuit against the NBA, his attorney said Monday.

"We have been instructed to prosecute the lawsuit," said attorney Maxwell Blecher. He said co-owner Donald Sterling would not be signing off on the deal to sell.Sterling Pulls Support for Clippers Deal [bigstory.ap.org]

[LifeinAsia]

He (Sterling) has said publically that he doesn't want to be remembered as a racist. Mostly likely, he will instead be remembered as a sore loser racist.