Apr 30, 2014, 12:48 PM EST
In this arena, Floyd Mayweather Jr. is a pretender… not that I’d say that to his face.
It didn’t take long after NBA Commissioner Adam Silver dropped the hammer on Clippers owner Donald Sterling over his racist comments and said the league was going to try to force him to sell the team that potential suitors lined up with an interest in purchasing the team. (No, Shelly Sterling, Donald’s estranged wife, is not in that group.)
Magic Johnson and the Guggenheim Group (which already own the Los Angeles Dodgers) are already trying to get in the front of the line, according to multiple reports. But they have a lot of company.
Mayweather said he was serious about his interest and that he had spoken with his adviser, Al Haymon, about teaming with Mayweather Promotions chief executive Leonard Ellerbe, Golden Boy Promotions chief executive Richard Schaefer and possibly others to make a bid for the Clippers.
“I called Al today about that to see if me, Leonard and Al, and hopefully Richard and a couple of other guys, a couple other of my billionaire guys, we can come together and see what we can come up with,” Mayweather said. “Hopefully, we can do it, and it’s not just talk.
Let’s set aside Mayweather’s gambling history and his ability to clear the league’s background check for owners, Mayweather would need a lot of help — his net worth is estimated in the $150 million range and the price tag for the Clippers is likely going to be in the $1 billion range (according to sources and other reports). Same with Oscar De La Hoya, who also is interested but worth roughly $200 million. In this ring, Mayweather and De La Hoya are not big time.
Oprah Winfrey is (estimated net worth around $3 billion). Entertainment mogul David Geffen is ($6.2 billion). And those two may be teaming up, reports Darren Rovel of ESPN.
Larry Ellison has been looking to buy a team and move them to San Jose, but it’s hard to see that outcome here — these partners wouldn’t want to move the team. Plus, if you move a team out of the nation’s second largest media market you are doing it wrong.
One fun name on the list — Matt Damon would love to be a minority owner.
Also on the minority owner wish list is Malcolm in the Middle’s Frankie Muniz.
There also will be a lot of names you don’t know who will have a serious shot at this. For example Dr. Patrick Soon-Shiong is one of the richest men in Los Angeles with a net worth of $7 billion, and he is the guy who bought Magic Johnson’s minority share of the Lakers. Soon-Shiong both has the money to get in this game and has already gone through the NBA’s vetting process for owners, there are no surprises there for the league.
It’s going to be a little while before a sale takes place. The NBA owners have to formally charge Sterling, have a hearing where both sides can present evidence, then the owners would vote. The NBA owners meet every July and this could happen then, except you can expect Sterling will fight this with lawsuits (plural) in federal court, dragging the process out. He’s a litigious person and is not just going to roll over for the “good of the game” here. That’s not in his nature.
When the sale process does move forward (and assuming the NBA runs it) expect a blind bid process (similar to how the Dodgers were sold out from under Frank McCourt by Major League Baseball). That process tends to bring in incredibly high bids as groups don’t know what others will bid. By the way, Magic Johnson and his group won the Dodgers in that process.
And yes, after league expenses, Donald Sterling will get that money. He bought the Clippers in 1981 for $12.5 million and will turn a handsome profit on this deal.
Mar 4, 2015, 1:28 PM EST
He should put up numbers against the Sixers. Then again he puts up numbers on everyone.
Joakim Noah says non-violence video he put out helped him maintain composure after flagrant foul from Wizards’ Nene
Mar 4, 2015, 12:45 PM EST
Nene whacked Noah in the face, but Noah didn’t respond.
Mar 4, 2015, 12:00 PM EST
Chemistry issues in Memphis?
Mar 4, 2015, 11:20 AM EST
League is releasing officiating reports for all calls made in a close game’s final two minutes, and the results are fascinating.
Mar 4, 2015, 10:40 AM EST
Nifty but necessary move by LeBron to earn the easy two points.
Mar 4, 2015, 10:00 AM EST
Suns in another unnecessary disagreement with a former player.
Mar 4, 2015, 9:20 AM EST
Knicks starting five combined for just 24 points, and New York trailed by as many as 44 before this one was finished.
Mar 4, 2015, 8:40 AM EST
Jazz are 5-1 in their last six games since Gobert was inserted into the starting lineup.
Mar 4, 2015, 8:00 AM EST
James passed Ray Allen to achieve his latest milestone.
Mar 4, 2015, 2:55 AM EST
Denver wins for its new coach.
Mar 4, 2015, 1:55 AM EST
Hawks fans booed Smith every time he touched the ball.
Mar 4, 2015, 12:15 AM EST
Tony Snell is not THAT good at getting open
Mar 3, 2015, 11:33 PM EST
Smith can’t stop shooting 3s, though, and you know how that ends
Mar 3, 2015, 10:50 PM EST
It was only a matter of time
Mar 3, 2015, 10:08 PM EST
Will he stay with Mavericks?
Mar 3, 2015, 9:08 PM EST
Denver should reciprocate
Mar 3, 2015, 8:08 PM EST
Boston reportedly also plans to try for Marc Gasol, Kawhi Leonard and Jimmy Butler
Mar 3, 2015, 7:20 PM EST
They say this was a one-time incident.
Mar 3, 2015, 6:34 PM EST
Yesterday’s Heat-Suns game got physical
Mar 3, 2015, 5:50 PM EST
The list for him is much longer than just two teams. Much longer.
- Derek Fisher questions ‘character and integrity’ of players after Knicks lose to Kings by 38 points 19
- Five Things We Learned in NBA Tuesday: The Hawks clinched playoff spot in front of Josh Smith 5
- Nuggets need to decide direction, then hire coach 18
- Report: Russell Westbrook ‘likely’ to return to Thunder lineup Wednesday, will wear protective mask 13
- Nuggets have fired head coach Brian Shaw 29
- Five Things We Learned in NBA Monday: Goran Dragic got his revenge in concentrated form 5
- League suspends James Harden one game for kick to LeBron James’ groin 23
- PBT’s weekly NBA Power Rankings: Hawks seem to be out of malaise. Maybe. 11