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LA Clippers sold for 2 billion, WTF?!

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  • LA Clippers sold for 2 billion, WTF?!

    Steve Ballmer bids $2B for Clippers

    The Sterling family trust has signed an agreement to sell the Los Angeles Clippers to former Microsoft chief executive Steve Ballmer for $2 billion, sources tell ESPN.com's Ramona Shelburne.

    The agreement is going straight to the NBA for final approval and does not require additional approval from banned Clippers owner Donald Sterling, according to sources.

    ESPN.com's Darren Rovell reported earlier Thursday that Ballmer's $2 billion bid was the highest submitted, topping bids from groups led by music mogul David Geffen ($1.6 billion) and L.A. investors Tony Ressler and Steve Karsh ($1.2 billion).

    Geffen confirmed to ESPN on Thursday night that his group had formally withdrawn from the bidding.

    Sterling's wife, Shelly, had pushed to negotiate a sale before Tuesday's board of governors meeting at which both of the Sterlings' ownership interests could be terminated, while Donald Sterling had vowed to fight the NBA's attempts to force a sale.

    News of Ballmer's bid was first reported by the Los Angeles Times.

    Magic Johnson, who was referenced in the racist remarks by Sterling that resulted in the owner's ban from the NBA, expressed his excitement over Ballmer's bid in several tweets Thursday evening.

    The $2 billion price tag would be the second-most ever for a North American professional sports franchise. The Los Angeles Dodgers were sold in 2012 for $2.15 billion (which included $500 million tied to real estate value). It would be the most paid by far for an NBA team, after the $550 million paid for the Milwaukee Bucks this year.

    Ballmer, 58, was CEO of Microsoft from 2000 to '14, and reportedly is worth $20 billion. He was the only investor that did not immediately seek out other partners when preparing a bid.

    On Wednesday, Seattle Seahawks (and former USC Trojans) coach Pete Carroll took to Twitter to back Ballmer.

    It's not the first time Ballmer has bid on an NBA team. He was part of a group that attempted to buy the Sacramento Kings last year, with the intent of moving the team to Seattle. NBA owners voted to reject the proposed move.

    Ballmer told The Wall Street Journal earlier this month that, should he obtain the Clippers, he would not attempt to move the franchise from Los Angeles, saying that would be "value destructive."

    Shelly Sterling told bidders to submit letters of interest by Wednesday, with firm offers due by 5 p.m. ET on Thursday.

    Geffen's group also included Oracle CEO Larry Ellison and Oprah Winfrey, as well as Guggenheim executives Todd Boehly and Mark Walter, Steve Jobs' widow Laurene Jobs, Steve Wynn's ex-wife Elaine Wynn, and Beats by Dre co-founder Jimmy Iovine.

    Former NBA All-Star Grant Hill was part of Ressler and Karsh's group.

  • #2
    the nba huh?

    oh hey, who is your favourite professional wrestler?

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    • #3
      Clippers sold for 2B?! Milwaukee Bucks sold this month for 550m, Dodgers 2.1B two years ago, this doesn’t pass the smell test

      Then again, Ballmer lead Microsoft into mediocrity and irrelevance during his tenure as CEO, maybe he sees another opportunity to repeat the process with the Clippers

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      • #4
        Originally posted by El Minion View Post
        Clippers sold for 2B?! Milwaukee Bucks sold this month for 550m, Dodgers 2.1B two years ago, this doesn’t pass the smell test :kidding me

        Then again, Ballmer lead Microsoft into mediocrity and irrelevance during his tenure as CEO, maybe he sees another opportunity to repeat the process with the Clippers
        Or he could be following Paul Allens footsteps.

        Let's not act like Clippers aren't a great opportunity with the Lakers on decline and that buss family...

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        • #5
          Originally posted by Chrissy Rules View Post
          its NBA thinking they punished this guy I guess...hes got to 2billion reasons to see it differently...sad to say but the scum bags usually win...2billion times over...
          I keep reading this and I disagree. This amount of money will not change his life considering his age.

          It's nice - but he'd rather keep the team.

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          • #6
            Bowlen didn't place a bid, you cheap drunk broke bastard.........haha J/K

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            • #7
              Originally posted by Action View Post
              Or he could be following Paul Allens footsteps.

              Let's not act like Clippers aren't a great opportunity with the Lakers on decline and that buss family...
              Donald Sterling is no Jerry Buss, since his ownership the Clippers have sucked, and sucked bad. IIRC, the only reason the Clippers are relevant is because the NBA blocked Buss from acquiring Chris Paul from the Hornets several years ago, imagine the Lakers with Paul, Kobe, Howard, and Gasol. The NBA did and put the kibosh on the trade. Sometimes a blind squirrel finds a nut, Sterling belies his namesake in the NBA, he's been anything but sterling.

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              • #8

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                • #9
                  Originally posted by BroncosfanGuy View Post
                  the nba huh?

                  oh hey, who is your favourite professional wrestler?
                  Your one of my favorite guys on this board man, but your dirty whore lips just reared their ugly head!

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                  • #10
                    Originally posted by Bronc0guy View Post
                    Your one of my favorite guys on this board man, but your dirty whore lips just reared their ugly head!
                    No homo.

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                    • #11
                      Originally posted by Action View Post
                      Or he could be following Paul Allens footsteps.

                      Let's not act like Clippers aren't a great opportunity with the Lakers on decline and that buss family...
                      Lakers....sigh. Don't bring them up.

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                      • #12
                        The big winner here is the federal government, who will get a boatload of tax revenue they wouldn't have gotten if the team had been passed down via an estate.

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                        • #13
                          Originally posted by El Minion View Post
                          Clippers sold for 2B?! Milwaukee Bucks sold this month for 550m, Dodgers 2.1B two years ago, this doesn’t pass the smell test
                          I'll give you the Bucks, that's a weird deal. But for the two LA teams, given the media market and TV deals, those figures sound about right.

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                          • #14
                            Seattle Supersonics will be back!

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                            • #15
                              Originally posted by Action View Post
                              Or he could be following Paul Allens footsteps.

                              Let's not act like Clippers aren't a great opportunity with the Lakers on decline and that buss family...
                              They might be in a decline right now but if that team is worth $2 billion then the Lakers are worth $4 billion. With their own station and legions of fans, Sterling got out at a price I am sure he would have never thought he would see. This is throw away money for the billionaire that just wants his new expensive toy. Even though I am not a huge basketball fan, I am a Lakers fan and would laugh my ass off if the Clippers are taken to Seattle and all those fans that were actually loyal and were from South Central aka black fans and to see their team finally not be the laughing stock, embarrassed by the owners words, demand he sells the team and now watches them leave for the Northwest. This is Laker town and only one team needs to be here.

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