May 25, 2014, 3:30 PM EST
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.
Jan 28, 2015, 9:22 AM EST
Upshaw reportedly failed multiple drug tests at Washington and Fresno State
Jan 28, 2015, 8:30 AM EST
He can do more than just shoot the rock.
Jan 28, 2015, 8:00 AM EST
They like his veteran leadership on a young team.
Jan 28, 2015, 2:59 AM EST
The Warriors are just simply a fun team to watch play.
Jan 28, 2015, 2:03 AM EST
I’d take this Finals matchup.
Jan 28, 2015, 12:17 AM EST
Lucas also previously played for Memphis
Jan 27, 2015, 11:33 PM EST
Hornets also reportedly had interest in Heat point guard
Jan 27, 2015, 10:51 PM EST
Buss would have turned 82 today
Jan 27, 2015, 10:09 PM EST
Heat blow lead to Bucks without star guard
Jan 27, 2015, 9:25 PM EST
Following Pistons basket, Cavaliers run awesome insta-fastbreak
Jan 27, 2015, 8:27 PM EST
One Clipper has a better chance than the other
Jan 27, 2015, 7:23 PM EST
The best news may be the return to the classic dunk contest format.
Jan 27, 2015, 6:50 PM EST
Barring any setbacks with hand injury
Jan 27, 2015, 5:59 PM EST
The Atlanta Hawks, is there anything they can’t do?
Jan 27, 2015, 5:15 PM EST
My gaming experience suggests you talk a lot of trash to the guy next to you.
Jan 27, 2015, 4:29 PM EST
Not a huge shock coming from Barnes.
Jan 27, 2015, 3:30 PM EST
It essentially uses increased jock tax revenue to pay off the bonds.
Jan 27, 2015, 2:40 PM EST
Shumpert dribbled it off his foot against the Thunder, then tweeted the clip.
Jan 27, 2015, 1:55 PM EST
Players like a routine, a rhythm to games, and the Lakers are chaos theory.
Jan 27, 2015, 1:10 PM EST
The East is so bad that the Pistons are still within reach.
- What We Learned in NBA Tuesday Night: Bulls fans should want more of this attacking Derrick Rose 3
- Derrick Rose hits step-back jumper in overtime, lifts Bulls past Warriors (VIDEO) 2
- It’s official: Zach LaVine, Greek Freak Antetokounmpo headline All-Star Dunk Contest 11
- Report: Stephen Curry, Klay Thompson to participate in All-Star weekend’s Three-Point Contest 8
- Three Things We Learned from NBA Monday: Is it time to mention Anthony Davis with LeBron and Durant? 33
- PBT Extra: Who should be the All-Star Game reserves? 16
- Report: Kobe Bryant “definitively coming back to play next season” 30
- Kemba Walker to have knee surgery; Hornets looking at trades for depth while he is out 6