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.
May 24, 2015, 9:46 PM EDT
A trend is becoming clear: Do not mess with Dellavedova.
May 24, 2015, 9:30 PM EDT
The question really is now much do you value the three?
May 24, 2015, 8:05 PM EDT
Matthew Dellavedova will start for the Cavaliers.
May 24, 2015, 6:30 PM EDT
The Lakers will be picking second in next month’s draft.
May 24, 2015, 5:00 PM EDT
Dragic can become a free agent this summer.
May 24, 2015, 3:30 PM EDT
The rapper wants Harden to apologize for stealing his dance.
May 24, 2015, 2:00 PM EDT
Korver suffered an ankle injury in Game 2.
May 24, 2015, 12:30 PM EDT
Cleveland has put in a bid for the 2018 event.
May 24, 2015, 11:00 AM EDT
Curry not only dropped 40, but he was talking back to the fans in Houston.
May 24, 2015, 9:30 AM EDT
Depending on what happens with the first two picks, Philadelphia could fill both requirements.
May 24, 2015, 8:00 AM EDT
If one play can sum up a game, this was it.
May 24, 2015, 12:57 AM EDT
There’s seemingly no solving Golden State’s dominant defense
May 24, 2015, 12:07 AM EDT
Houston has played well and valiantly this postseason, but the Warriors are simply better.
May 23, 2015, 10:32 PM EDT
He did it in nine fewer games than Miller.
May 23, 2015, 9:00 PM EDT
Great stuff from the game’s best player.
May 23, 2015, 7:30 PM EDT
Ross, and the Raptors, had a disappointing season.
May 23, 2015, 6:00 PM EDT
He certainly is one of the greatest ball handlers of all time.
May 23, 2015, 4:30 PM EDT
Lakers need a strong-willed star to carry them into their next era of greatness.
May 23, 2015, 3:16 PM EDT
I’d say this puts the Hawks in a difficult spot, but they already were in one.
May 23, 2015, 1:30 PM EDT
- Kyrie Irving out for Game 3 for Cavaliers with knee tendonitis 3
- Lil B says James Harden is officially under the Based God’s curse 26
- Warriors don’t live by 3, die by 3. They live by defense, live by defense 9
- Stephen Curry drops 40, Warriors rout Rockets by 35 to take 3-0 series lead 27
- Hawks Kyle Korver out for remainder of playoffs with high ankle sprain 17
- Report: Scott Skiles in lead to become next Orlando coach 17
- Report: Jeff Van Gundy candidate for Pelicans’ coaching job 16
- Cavs’ improved defense deserves credit for commanding 2-0 Eastern Conference Finals lead 36