Apr 30, 2014, 12:48 PM EDT
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.
Jul 31, 2014, 12:04 AM EDT
A LeBron James-Kevin Love combo seems increasingly inevitable
Jul 30, 2014, 10:30 PM EDT
“His unique skill set makes him one of the best players in the game today.” —Pat Riley on Chris Bosh, who still is overpaid.
Jul 30, 2014, 8:59 PM EDT
Pat Riley got beat in free agency, and he doesn’t take losing well.
Jul 30, 2014, 8:00 PM EDT
Scott, not Mike Brown, would have followed Phil Jackson
Jul 30, 2014, 6:59 PM EDT
“He’s playing out of his mind. He’s being Derrick Rose.” —Anthony Davis on Rose.
Jul 30, 2014, 6:05 PM EDT
NBA reportedly wanted Bavetta to retire four years ago
Jul 30, 2014, 5:17 PM EDT
The elicits a shrug of the shoulders. Not much else.
Jul 30, 2014, 4:29 PM EDT
Thunder star texted Davis after winning the award last season: ‘You on your way to get it’
Tony Parker says skipping FIBA World Championships this summer was a way for him to ‘give back to the Spurs’
Jul 30, 2014, 3:41 PM EDT
Parker has played 91 extra games since his last summer break three seasons ago.
Jul 30, 2014, 2:59 PM EDT
“Guys that don’t have a reputation for playing hard defense are picking up full court.” —Damian Lillard on the level of play at Team USA training camp.
Jul 30, 2014, 2:19 PM EDT
Dallas originally signed Lewis, but voided his contract once it was discovered he would require knee surgery.
Jul 30, 2014, 1:34 PM EDT
Cleveland, Chicago, Indiana, Miami, Toronto and Washington all simply shake their heads.
Jul 30, 2014, 12:47 PM EDT
World Peace hasn’t drawn legitimate interest from NBA teams, so he’s considering playing overseas.
Jul 30, 2014, 12:01 PM EDT
Silly idea anyway.
Report: Anthony Bennett pulled from pro-am by agent, possibly due to his inclusion in Kevin Love trade talks
Jul 30, 2014, 11:14 AM EDT
Just like Love, Bennett is not going to be playing in any games this summer until a deal is done.
Jul 30, 2014, 10:32 AM EDT
Sixers put a multi-year plan together based on current rules, which would be adversely affected with a quick change to the system.
Jul 30, 2014, 9:55 AM EDT
This was 100 percent guaranteed.
Jul 30, 2014, 9:18 AM EDT
Hayward set to earn $62,965,420 over next four years
Jul 30, 2014, 8:40 AM EDT
“Everyone talks about match-ups (with big teams such as Spain), people have to match-up against us, too.” — USA Basketball coach Mike Krzyzewski
Jul 30, 2014, 8:00 AM EDT
LeBron still not as popular as prior to The Decision, though. It’s only a matter of time until he is.
- Report: Cavaliers last team standing in Kevin Love trade talks 0
- Pat Riley says he didn’t think LeBron was leaving, Heat can turn around quickly 28
- Coach K on Rose: “Derrick’s played great, not good, and hasn’t held anything back” 17
- Report: Anthony Bennett pulled from pro-am by agent, possibly due to his inclusion in Kevin Love trade talks 42
- Report: Sixers fighting against immediate changes to NBA Draft Lottery system 56
- Team USA going small ball, but how many bigs do they keep on the bench? 4
- Report: LeBron James more popular than he ever was with the Heat 15
- Durant says 2014 USA team better than 2010 version that won gold 6