May 30, 2014, 7:59 AM EST
It’s all official… except for the going to court thing.
Shelly Sterling released a statement through her attorney that she, acting as the lone trustee of the Sterling Family Trust that owns the Los Angeles Clippers, has agreed to sell the NBA franchise to former Microsoft CEO Steve Ballmer for $2 billion. She can act as the lone trustee after having her husband Donald Sterling, who has been the recognized primary owner of the team by the NBA for more than three decades, declared mentally incapacitated.
She and Ballmer also released statements.
“I am delighted that we are selling the team to Steve, who will be a terrific owner,” Shelly Sterling said in her statement. “We have worked for 33 years to build the Clippers into a premiere NBA franchise. I am confident Steve will take the team to new levels of success.”
“I will be honored to have my name submitted to the NBA Board of Governors for approval as the next owner of the Los Angeles Clippers,” Ballmer said in his statement. “I love basketball. And I intend to do everything in my power to ensure that the Clippers continue to win – and win big – in Los Angeles.”
Ballmer’s $2 billion bid (which was reportedly originally $1.8 billion but apparently was upped in negotiations) was higher than what was offered by multiple other suitors. The powerhouse group led by David Geffen (which included Larry Ellison and Oprah Winfrey) reportedly offered $1.6 billion.
The NBA has yet to comment on any of this.
Reports had surfaced on Thursday that if a completed sale agreement — at a price the league liked with a new owner they were interested in — was sent to them in time they would cancel the NBA Board of Governors meeting scheduled for June 3. At that meeting the other 29 NBA owners would conduct a hearing then vote on whether to strip Sterling of his ownership of the franchise in response to the backlash that followed his prejudiced comments on a recording released to TMZ, plus later in a CNN interview.
But does the league see this as a legal move by Shelly Sterling? If it has questions, would the league be better off rejecting this sale as not valid, going through with the June 3 hearing, voting to revoke the Sterling’s franchise rights, then selling the team again themselves (likely at the same price or higher)? That train of action would lead to another round of lawsuits.
Whatever happens this is headed to the courts.
Donald Sterling also has not as of yet released a statement on the proposed sale. In his 32-page response to the league’s official charges he was defiant, with his attorney allegedly saying they planned to fight the forced sale until “the bloody end.”
The smart money is on this entire process, starting with Donald being declared mentally incapacitated, it headed to the courts.
Meanwhile NBA fans — not to mention Clippers players — hope the sale goes through so this entire saga will just end.
Nov 24, 2014, 2:36 AM EST
Few teams have been more of a let down so far this season than Charlotte.
Nov 24, 2014, 1:24 AM EST
Tony Allen has a little playground in his offensive game.
Nov 23, 2014, 11:00 PM EST
He is 0-for-13 in the Nets last two games.
Nov 23, 2014, 9:30 PM EST
This is funny. Cold, but funny.
Nov 23, 2014, 8:00 PM EST
What did you expect him to think?
Nov 23, 2014, 6:30 PM EST
Whiteside has put up big numbers for the Iowa Energy.
Nov 23, 2014, 5:00 PM EST
Henry has missed four games this season.
Nov 23, 2014, 3:30 PM EST
Rose could return Monday.
Nov 23, 2014, 2:01 PM EST
Bargnani was close to a return from his hamstring injury.
Nov 23, 2014, 12:30 PM EST
The Pelicans are now without two starters.
Nov 23, 2014, 11:00 AM EST
Combination of a lower price tag and a more diverse overall skill set may explain why.
Nov 23, 2014, 9:30 AM EST
When he uses his athleticism to get to the rim good things happen.
Nov 23, 2014, 8:00 AM EST
“This is not even the lowest it’s going to get for us.” —LeBron James
Nov 23, 2014, 1:04 AM EST
There was nothing the Utah Jazz could do.
Nov 22, 2014, 11:30 PM EST
Adam Silver has said it should happen, and Cuban agrees.
Nov 22, 2014, 10:00 PM EST
Leonard missed time with an eye infection.
Nov 22, 2014, 8:30 PM EST
Dunleavy says he was just trying to foul to stop the clock. Watch and decide for yourself.
Nov 22, 2014, 7:06 PM EST
With him and starting power forward Terrence Jones out, the Rockets are very thin up front.
Nov 22, 2014, 6:30 PM EST
Detroit is next to last in field goal percentage on the season.
Nov 22, 2014, 5:00 PM EST
Toronto won by 42 points, so this only matters if you had a certain Milwaukee player on your fantasy team.
- PBT’s Sunday Night NBA Winners/Losers: You may want to try and cover Marc Gasol 0
- Jimmy Butler on Derrick Rose: “We want him to be 100 percent” for the playoffs 10
- Report: Free agent market for Jeff Green is as strong ‘if not stronger’ than it is for Rajon Rondo 16
- LeBron James: “We’re a very fragile team right now” 49
- Dwight Howard out vs. Mavericks Saturday, no timetable for his return 3
- If Derrick Rose not ready to return by Monday Bulls may add point guard to roster 12
- Another day, another Bulls injury: Taj Gibson out with sprained ankle 11
- Report: Kevin Durant, Russell Westbrook could return to Thunder lineup next week 11