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 29, 2014, 1:00 AM EST
The Thunder looked like the Thunder again.
Nov 28, 2014, 11:00 PM EST
Nov 28, 2014, 9:30 PM EST
Butler is worth way more than that, and he knows it.
Nov 28, 2014, 8:00 PM EST
Classy move by CP3.
Nov 28, 2014, 6:30 PM EST
He’s the team’s leading scorer (which says a lot about the Sixers’ offense).
Nov 28, 2014, 5:00 PM EST
Adam Silver has called it his top priority
Nov 28, 2014, 3:40 PM EST
Indiana hosts Magic
Nov 28, 2014, 2:10 PM EST
Melo said it came down to Bulls and Knicks
Nov 28, 2014, 12:39 PM EST
Grizzlies’ win upheld
Nov 28, 2014, 12:25 PM EST
To reach the 49 wins it took to make the playoffs in the West last season, the Thunder need to go 45-21 the rest of the way.
Nov 28, 2014, 11:00 AM EST
What about Chris Paul?
Nov 28, 2014, 9:30 AM EST
Mavericks own bitter about how Fisher left Dallas
Nov 28, 2014, 8:00 AM EST
I’d take this rumor with a grain or 12 of salt, but…
Nov 28, 2014, 1:51 AM EST
Scottie Pippen made the list, too.
Nov 27, 2014, 11:00 PM EST
Parker gets the rookie treatment from the official.
Nov 27, 2014, 9:30 PM EST
Davis is averaging 17.7 shots per game.
Nov 27, 2014, 8:00 PM EST
Sager will receive clearance to fly in January.
Nov 27, 2014, 6:30 PM EST
Rose says he is feeling better about his health.
Nov 27, 2014, 5:00 PM EST
Michael Malone increases pressure on sometimes-combustible Cousins
Nov 27, 2014, 3:30 PM EST
Celtics forward in final year of contract
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