Skip to content

Former Citigroup chairman Richard Parsons named interim CEO of Clippers

May 9, 2014, 3:49 PM EST

2014 Matrix Awards - Inside Getty Images

The long-range future of the Clippers is murky — the other owners are starting the process to force a sale of the team, while both Donald and Shelly Sterling separately plan to fight that plan — but the short term picture got a little more clear.

Richard Parsons, the former Citigroup chairman and Time Warner CEO, has been appointed the interim CEO of the Los Angeles Clippers, the league has announced.

“I believe the hiring of Dick Parsons will bring extraordinary leadership and immediate stability to the Clippers organization,” NBA Commissioner Adam Silver said in a released statement. “Dick’s credentials as a proven chief executive speak for themselves and I am extremely grateful he accepted this responsibility.”

“Like most Americans, I have been deeply troubled by the pain the Clippers’ team, fans and partners have endured,” said Parsons in a statement released through the league. “A lifelong fan of the NBA, I am firmly committed to the values and principles it is defending, and I completely support Adam’s leadership in navigating the challenges facing the team and the league. The Clippers are a resilient organization with a brilliant coach and equally talented and dedicated athletes and staff who have demonstrated great strength of character during a time of adversity. I am honored to be asked to work with them, build on their values and accomplishments, and help them open a new, inspiring era for their team.”

After racist remarks by Sterling were released on a recording the Clippers faced serious ramifications — multiple sponsors (some of the NBA’s biggest) pulled their association with the Clippers, plus the players were threatening to boycott a playoff game (not just the Clippers but also the Golden State Warriors).

In a decision that was a combination of justified moral outrage and smart business move, Silver responded by banning Donald Sterling for life, fining him $2.5 million and starting the process with the other league owners to force a sale of the team. The league also forced long-time Sterling associate and team president Andy Roeser to step aside.

Parsons, an African-American, steps into that vacuum and will oversee the operation (primarily the business side; he is not going to be making basketball decisions –that power remains with Doc Rivers mostly). Parsons is currently a senior advisor at Providence Equity Partners, sits on the board of directors for the Commission on Presidential Debates, and has served as a member of President Barack Obama’s economic advisory team.

He will stay in this position until the ownership situation is settled, something likely headed to the courts after the owners vote out Donald Sterling. Complicating matters, Donald owns the team 50-50 in a trust with his wife Shelly. Also, Donald is currently battling cancer, according to reports. Shelly is apparently good with this hire.

Latest Posts
  1. Kyrie Irving has strained left shoulder, out Friday vs. Pacers

    Feb 27, 2015, 4:56 PM EST

    Cleveland Cavaliers v New York Knicks Getty Images

    He’s day to day. (Insert your Keith Olberman joke here.)

  2. NBA to release “Last Two Minutes” officiating reports through end of season, playoffs

    Feb 27, 2015, 4:30 PM EST

    Boston Celtics Vs. Brooklyn Nets At TD Garden Getty Images

    It’s not going to change most fans’ minds, but it’s a good first step.

  3. Report: Highest bid for Atlanta Hawks currently $800 million

    Feb 27, 2015, 3:45 PM EST

    Indiana Pacers v Atlanta Hawks - Game Six Getty Images

    Don’t be surprised if another bidder comes in over the top.

  4. Report: If Ray Allen return to NBA this season it will not be with Cleveland

    Feb 27, 2015, 3:15 PM EST

    Ray Allen Getty Images

    Don’t expect him to return, but if he does Cleveland appears off the list.

  5. The time Michael Jordan asked Common to forge his signature (VIDEO)

    Feb 27, 2015, 2:45 PM EST

    87th Annual Academy Awards - Red Carpet Getty Images

    Turns out Common was a Bulls ball boy back in the early Jordan era in Chicago, so he and Michael Jordan had some laughs together.

  6. Jeff Van Gundy to Daryl Morey when he flinched at using analytics to make a decision: ‘Either you believe in this sh-t or you don’t’

    Feb 27, 2015, 2:14 PM EST

    Game One Miami Heat v Indiana Pacers - Eastern Conference Finals Game One Getty Images

    The data said that Dikembe Mutombo was better than Yao Ming, but Morey wasn’t ready to make that call.

  7. Shane Battier says peer pressure is more valuable than coaching in the NBA

    Feb 27, 2015, 1:30 PM EST

    Shane Battier Shane Battier

    A team’s best players hold each other accountable, according to the former NBA player.

  8. Report: Phil Jackson to get fined for innocuous comment on Ohio State’s D’Angelo Russell

    Feb 27, 2015, 12:48 PM EST

    Celebrities Attend Vancouver Canucks Vs New York Rangers Game - February 19, 2015 Getty Images

    Phil Jackson can’t just quietly sneak into a building and watch a prospect, so a reporter asked him a question. Jackson answered and will pay for that.

  9. Derrick Rose expected to return in 4-6 weeks. In time for playoffs.

    Feb 27, 2015, 11:58 AM EST

    Chicago Bulls v Houston Rockets Getty Images

    This makes the Bulls a lot more dangerous come the playoffs.

  10. Draymond Green drives for dunk, Timofey Mozgov isn’t going to stop him (VIDEO)

    Feb 27, 2015, 11:28 AM EST

    draymond green Getty Images

    The Cavaliers’ rim protection has been infinitely better since the arrival of Timofey Mozgov, but he wasn’t stopping Draymond Green on this one.

  11. Kyle Lowry on his game of late: “I’m trash.”

    Feb 27, 2015, 10:44 AM EST

    Raptors DeRozan and Lowry against Hawks Getty Images

    DeMar DeRozan says he’s right next to Lowry on this.

  12. Eric Bledsoe, Russell Westbrook put on a show (VIDEO)

    Feb 27, 2015, 9:10 AM EST

    Russell Westbrook, Eric Bledsoe, Alex Len AP

    Westbrook had the numbers but Bledsoe was efficient.

  13. Kyrie Irving to get MRI on shoulder, did not travel with Cavs to Indianapolis

    Feb 27, 2015, 8:30 AM EST

    Golden State Warriors v Cleveland Cavaliers Getty Images

    He’s officially doubtful for Friday against the Pacers.

  14. Five Things We Learned in NBA Thursday: The Cavaliers we expected have arrived

    Feb 27, 2015, 2:55 AM EST

    LeBron James AP

    If you had any doubts about the Cavs, they answered them.

  15. LeBron drops season-high 42 as Cavaliers comfortably handle Warriors (VIDEO)

    Feb 27, 2015, 12:55 AM EST

    LeBron James AP

    LeBron looked at Stephen Curry across the way and decided to make his own MVP statement.

Featured video

Is Derrick Rose the next Penny Hardaway?
Top 10 NBA Player Searches
  1. K. Durant (8371)
  2. D. Rose (7488)
  3. S. Curry (7368)
  4. D. Howard (7209)
  5. M. Carter-Williams (7169)
  1. P. George (6790)
  2. C. Bosh (6516)
  3. A. Davis (6165)
  4. B. Beal (5967)
  5. K. Olynyk (5608)