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.
Aug 3, 2015, 12:01 AM EDT
Orlando keeps backup center on minimum contract
Aug 2, 2015, 10:30 PM EDT
I think the movie is coming, people.
Aug 2, 2015, 9:32 PM EDT
Saunders has a versatile front line, but does he have enough shooting to give them room to operate?
Aug 2, 2015, 8:50 PM EDT
Jordan will gloat about this to Butler for years.
Aug 2, 2015, 3:30 PM EDT
The game in Africa felt like an exhibition.
Aug 2, 2015, 2:00 PM EDT
It’s a standard rookie contract for a first-round pick.
Aug 2, 2015, 12:30 PM EDT
He will be one of the favorites to win ROY.
Aug 2, 2015, 11:00 AM EDT
He was a star with the Buffalo Braves (the franchise that is now the L.A. Clippers).
Aug 2, 2015, 9:30 AM EDT
“Dude, what are you talking about? You’re only a year older than me!” — Giannis Antetokounmpo on Anthony Davis calling him “kid.”
Aug 2, 2015, 8:00 AM EDT
Okafor is getting acquainted with his young fans in Philadelphia.
Aug 2, 2015, 12:30 AM EDT
Davis is in talks to re-sign with the Clippers.
Aug 1, 2015, 11:00 PM EDT
Hamilton played 14 games with the Clippers last season.
Aug 1, 2015, 9:30 PM EDT
Rose played in the 2010 and 2014 FIBA World Championships.
Aug 1, 2015, 8:00 PM EDT
That would be good news for the Spurs and bad news for the rest of the Western Conference.
Aug 1, 2015, 6:30 PM EDT
Noah spent most of last season limited by knee surgery.
Aug 1, 2015, 5:00 PM EDT
His $4.7 million salary for next season is unguaranteed.
Aug 1, 2015, 3:30 PM EDT
Paul is still in the running for a spot on the 2016 Olympic team.
Aug 1, 2015, 2:00 PM EDT
Will this lead to all 30 teams getting their own affiliates?
Hakeem Olajuwon and Dikembe Mutombo make surprise appearances for Team Africa in NBA exhibition game (VIDEO)
Aug 1, 2015, 12:30 PM EDT
Team Africa faced off against Team World in Johannesburg.
Aug 1, 2015, 11:00 AM EDT
Mbah a Moute signed a one-year deal with the Kings in July.
- Jahlil Okafor: “Rookie of the Year is one of the goals I set for myself” 13
- Report: Derrick Rose undecided about attending Team USA minicamp 8
- Report: Pacers planning to purchase D-League’s Fort Wayne Mad Ants 3
- Report: Hawks’ Mike Scott told police after arrest all drugs in car were his 17
- NBA lands in Africa trying to put down roots, which is all about youth programs, infrastructure 1
- Report: Kings expected to hire Nancy Lieberman as assistant coach 9
- Report: Hawks’ Mike Scott arrested for felony drug possession 16
- Gilbert Arenas on LeBron James: “James isn’t a #1 option..and yes I (didn’t stutter)” 50