May 30, 2014, 7:59 AM EDT
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.
Apr 25, 2015, 1:28 AM EDT
Leonard was fantastic at both ends of the court.
Apr 25, 2015, 12:18 AM EDT
The Wizards are moving on. That’s the Truth.
Apr 24, 2015, 10:30 PM EDT
Dwight Howard grabbed 26 rebounds, too.
Apr 24, 2015, 9:30 PM EDT
Portland, down 0-2 to Memphis, needs all the help it can get.
Apr 24, 2015, 8:30 PM EDT
NBA continues its technological push.
Apr 24, 2015, 7:30 PM EDT
Parker is going to finish his degree at Duke.
Apr 24, 2015, 6:45 PM EDT
The Warriors eventually won in overtime regardless.
Apr 24, 2015, 6:00 PM EDT
Looking past the first round to some of the more exciting later matchups to come.
Apr 24, 2015, 5:15 PM EDT
The long-running rift continues.
Apr 24, 2015, 4:30 PM EDT
He’s got to coach whoever they draft anyway, why not?
LeBron James on why Kevin Love gets criticized: ‘When you have a big three, they’ve got to find someone’
Apr 24, 2015, 3:47 PM EDT
With Heat, it was Chris Bosh
Apr 24, 2015, 3:11 PM EDT
Aron Baynes doubtful
Apr 24, 2015, 2:33 PM EDT
Spurs assistant coach achieved incredible success in Europe
Apr 24, 2015, 1:55 PM EDT
Which is ridiculous
Apr 24, 2015, 1:07 PM EDT
Despite the chess match going on, guys still have to just hit their looks.
Apr 24, 2015, 12:31 PM EDT
Brave to admit the mistake, but still not inspiring
Apr 24, 2015, 11:52 AM EDT
Johnson a borderline top-10 prospect
Apr 24, 2015, 11:15 AM EDT
And I’m not just talking about allowing Stephen Curry’s game-tying 3-pointer
Apr 24, 2015, 10:33 AM EDT
Is his scoring, size and athleticism worth the trouble? It won’t take long for an NBA team to say yes
Apr 24, 2015, 9:50 AM EDT
Bulls point guard looks good – very good
- Behind 32 points from Kawhi Leonard, Spurs rout Clippers to take 2-1 series lead 1
- The Truth (and Marcin Gortat) will set Washington free, up 3-0 on Toronto after win 1
- James Harden scores 42 points to lead Rockets to Game 3 win, 3-0 series lead over Mavericks 14
- Why can’t the Pelicans foul in a timely manner? 7
- PBT Extra: No Rajon Rondo, no Chandler Parsons, Dallas is in trouble vs. Houston 6
- Stephen Curry drops 40, leads 20-point comeback as Warriors beat Pelicans in OT, take 3-0 series lead 10
- Stephen Curry hits ridiculous corner three to force OT (VIDEO) 18
- Bulls pull away in double-overtime to take 3-0 lead over Bucks 10