May 25, 2014, 3:30 PM EDT
The Clippers will be up for sale soon enough, whether the NBA controls the process or whether the Sterlings are allowed to do so in what appears to be an increasingly less likely scenario.
There will be a long line of suitors for the team, all of whom will be putting together potential ownership groups willing to pay over $1 billion (with a ‘b’) for L.A.’s historically junior franchise.
But image will play in important role in the group the league chooses, as they’ll want to move in a positive direction following the Sterling disaster. And for that reason, a group headed by a well-respected former player may have an edge in the bidding process.
From Marc Stein of ESPN.com:
Former NBA All-Star Grant Hill has partnered with billionaire investors and longtime Southern California residents Tony Ressler and Bruce Karsh to form an ownership group to bid on the Los Angeles Clippers when they are officially put up for sale, according to sources close to the process.
Sources told ESPN.com that Hill’s group is already regarded by league officials as a viable contender for the Clippers in what is forecast to be a highly competitive auction when the franchise finally hits the open market. One industry source told ESPN.com this week that the bidding could start as high as the $1.5 billion range. …
Hill is just completing his first season in retirement after a 19-year career that featured seven All-Star appearances. Ressler is the co-founder of Ares Management and a minority owner of the Milwaukee Brewers. Karsh is president and co-founder of Oaktree Capital Management and currently serves a minority owner of the Golden State Warriors.
Magic Johnson is another person who would similarly meet the positive image criteria, but with easily more than 10 groups likely to be interested, that in itself won’t be enough to win the right to purchase the Clippers.
Since the Sterlings are being forced to sell, the league will almost certainly need to ensure that the group it chooses is also the highest bidder. Otherwise, it opens itself up to even more potential litigation from Sterling than is already being predicted, as the NBA continues the process of terminating the current ownership interests in the team as quickly as possible.
Aug 23, 2014, 9:30 AM EDT
It’s an accurate description.
Aug 23, 2014, 8:00 AM EDT
It was a good night to be Stephen Curry.
Aug 23, 2014, 1:20 AM EDT
Team USA kept four centers on the roster. That’s a bit of a surprise.
Aug 23, 2014, 12:05 AM EDT
The players who got DNP-CDs in this one may be the ones who stay home.
Aug 22, 2014, 9:50 PM EDT
Playing time decisions will be interesting with four legitimate options competing for minutes.
Aug 22, 2014, 8:20 PM EDT
Timberwolves will stick with Andrew Wiggins
Aug 22, 2014, 7:50 PM EDT
Monty Williams gives Drummond some excellent instruction.
Aug 22, 2014, 6:21 PM EDT
DeMar DeRozan, Andre Drummond, Gordon Hayward, Chandler Parsons, Kyle Korver all possibilities for chopping block
Aug 22, 2014, 5:01 PM EDT
A fine choice, even if he isn’t the best current NBA player from Spain.
Aug 22, 2014, 4:02 PM EDT
Hairston’s guarantee will total $2 million over two seasons.
Aug 22, 2014, 3:01 PM EDT
Curry, seen on video discussing it, still seems upset by the situation.
Aug 22, 2014, 1:59 PM EDT
If true, Thompson needs a much thicker skin.
Aug 22, 2014, 1:05 PM EDT
Watching Smith and his gunner, ball-stopping tendencies try to fit in the move-the-ball, read and react triangle offense is going to be interesting. To put it kindly.
Aug 22, 2014, 12:20 PM EDT
His critics don’t get it, but Jeremy Lin is a solid NBA guard now.
Aug 22, 2014, 11:44 AM EDT
Krzyzewski – surprise, surprise – also reportedly likes Mason Plumlee, who played at Duke
Bulls’ Doug McDermott’s can’t sing, tries to lead Cubs’ fans in “Take Me Out To The Ballgame” anyway
Aug 22, 2014, 11:08 AM EDT
Doug McDermott can’t sing. We know that now.
Aug 22, 2014, 10:35 AM EDT
The Greek freak is going to be so much fun to watch at the world Cup.
Aug 22, 2014, 10:00 AM EDT
The hopes of the Finnish nation are crushed…. if they even noticed.
Aug 22, 2014, 9:15 AM EDT
Stiviano claims Sterling paid her to act as his beard
Aug 22, 2014, 8:44 AM EDT
Energy is a skill.
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