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.
Jan 31, 2015, 9:30 AM EST
Denver’s offer of J.J. Hickson and JaVale McGee isn’t enough for Brooklyn to pull the trigger — especially with Lopez coming off of a 35-point, 12-rebound performance against the Raptors.
Jan 31, 2015, 8:00 AM EST
Those two together at this stage of their careers are a poor fit together.
Jan 31, 2015, 12:36 AM EST
Balance and defense win the day.
Jan 31, 2015, 12:01 AM EST
180 or 360?
Jan 30, 2015, 10:59 PM EST
It took Kobe Bryant being injured for Cousins to make the squad.
Jan 30, 2015, 9:49 PM EST
If it can happen to Duncan….
Jan 30, 2015, 8:45 PM EST
Robin Lopez has a long rap sheet of mascot abuse.
Jan 30, 2015, 7:51 PM EST
Jeff Green could get more run.
Jan 30, 2015, 6:56 PM EST
This is not a serious injury, but they will miss him defending Blake Griffin.
Jan 30, 2015, 5:59 PM EST
All of those teams could use point guard depth.
Jan 30, 2015, 5:16 PM EST
Thank the new television contract.
Jan 30, 2015, 4:29 PM EST
“So if you see me diving on the floor and people say ‘what is he doing?’ I can’t help but be the player that I am.” —Jimmy Butler on playing in the All-Star Game
Jan 30, 2015, 3:29 PM EST
He should be. He was robbed.
Jan 30, 2015, 2:51 PM EST
I’ll take Stephen Curry
Jan 30, 2015, 2:09 PM EST
NBA Commissioner has delivered on All-Star Break. Back-to-backs next?
Jan 30, 2015, 1:34 PM EST
Who wil start for Kobe?
Jan 30, 2015, 12:49 PM EST
Will center stick with Mavericks this time?
Jan 30, 2015, 12:11 PM EST
Sliding into your DMs like…
Jan 30, 2015, 11:33 AM EST
Kings center waits five years, burns Clay Travis for tweet
Jan 30, 2015, 10:54 AM EST
Vaughn’s firing seems imminent
- Report: Nuggets trying to trade for Brook Lopez 0
- Last summer Carmelo Anthony, Kobe Bryant talked, decided it wouldn’t work together 5
- Jimmy Butler even plans to play defense in the All-Star Game 8
- Damian Lillard “disappointed,” “disrespected” not to make All-Star team 44
- DeMarcus Cousins replaces Kobe Bryant in All-Star game 11
- Tyson Chandler, better than ever, thinking legacy 10
- Report: Magic close to firing Jacque Vaughn 17
- Three Things We Learned in NBA Thursday: The All-Star Rosters need to be expanded 30