darren rovell @darrenrovell 4m
Report from @latimes: Former Microsoft CEO Steve Ballmer to buy the Clippers for $2 Billion
Report from @latimes: Former Microsoft CEO Steve Ballmer to buy the Clippers for $2 Billion
Ballmer has said many times over the past month that if he won the bidding he would not relocate them to SEA...Greg29fan said:Ballmer has been a key cog trying to get a team in Seattle since failing to acquire the Supersonics...anybody know the particulars behind the Clippers lease and things that might signal a possible relocation?
soxhop411 said:You do not spend 2 billion on an LA team and then move them to a smaller market.
NBA needs to approve any team relocation. See the Kings the past year, where they were the prime team to relocate and the NBA shot down each attempt. NBA needs legit reasons why the team should be moved, and I cannot think of any in regards to the Clippers
Yes, but in regards to the Sonics, they moved out of SEA because the city would not pay for a new arena or updates to the current one I believe.Devizier said:
I agree that it seems unlikely that Ballmer will move the Clippers BUT:
Al Davis moved the Raiders from Los Angeles (where they were the only team in the market) to Oakland (where they are the second team in a smaller market), plus Clay Bennett moved the Sonics from Seattle (12th largest metro in the US by GDP) to Oklahoma City (46th largest).
The league will approve relocations when it suits their needs, such as appeasing David Stern's buddies or extorting local tax bases for arena money.
So Ballmer made around $110m today with MSFT stock up a modest 0.82%? Hard to even comprehend with my portfolio up like 5 hundo today. I shall now slit my wrist.BigMike said:Balmer is a great guy so more power to him. Not sure what his total net worth is, but I know he has about 14 billion in MS stock. Assuming he didn't get a bunch more to leave
Good for him, hope he gets a long time to play with his new toy
Or, it's good to be pilot of a plane that's going to fly a long, long way on autopilot no matter what you do.BigSoxFan said:Forbes lists his net worth at $20 billion. It's good to be the king.
Mugsys Jock said:Edit: Wow, I assumed this was $1.2 billion...but I was wrong.
NBA owners all come out massively enriched as the value of their teams skyrocket. You'd almost think there was a conspiracy to frame Sterling and force him out...but that could never happen. Right?
soxhop411 said:Yes, but in regards to the Sonics, they moved out of SEA because the city would not pay for a new arena or updates to the current one I believe.
soxhop411 said:
Ramona Shelburne @ramonashelburne 17s
There is now a signed, binding agreement between Ballmer and the Sterling family trust to sell the Clippers for $2billion, ESPN has learned
She is selling the team completely.Gdiguy said:
Now I can't remember - is this a sale by Sterling's wife that the NBA isn't recognizing as it'll keep her as an owner? Or is this a full sale to remove both of them and she finally agreed to leave?
Gdiguy said:
Now I can't remember - is this a sale by Sterling's wife that the NBA isn't recognizing as it'll keep her as an owner? Or is this a full sale to remove both of them and she finally agreed to leave?
bowiac said:It's tough to imagine there's any real thought to moving the team to Seattle here. If Ballmer wanted that, he'd have bought the Bucks.
Here's where I'm confused. Sterling was not involved in any of these negotiations and would have to AGREE to sell the team which his attorney has repeated adamantly that he would not agree to do.Dan to Theo to Ben said:The Sterlings should thank their lucky stars this fiasco created enough hype to enable them to possibly sell the team for a 160-fold profit (yes, yes, exaggeration due to inflation ignorance). $2 billion is crazy for a team that's only #2 in its sport in its market. Nice cap gain though . . .
soxhop411 said:
Ramona Shelburne @ramonashelburne 17s
There is now a signed, binding agreement between Ballmer and the Sterling family trust to sell the Clippers for $2billion, ESPN has learned
No. Silver said he would prefer something like this to happen then to vote him outHomeRunBaker said:Here's where I'm confused. Sterling was not involved in any of these negotiations and would have to AGREE to sell the team which his attorney has repeated adamantly that he would not agree to do.
Wouldn't it seem that the BOG would still need to vote and complete the process of eliminating Sterling so he wouldn't have to sign off on the sale? Did I miss Sterling's attorney say that he would agree to sell the team?
Right......but we are still talking about the legal process dragging this out for months with no guarantees (although it appears extremely likely the league will win).soxhop411 said:
No. Silver said he would prefer something like this to happen then to vote him out
Read the tweet above, he has signed a doc that has sold the team to Ballmer, no lawsuitHomeRunBaker said:Right......but we are still talking about the legal process dragging this out for months with no guarantees (although it appears extremely likely the league will win).
Donald didn't sign this. It states that the agreement is with the family trust which Shelly oversees because Donald could not be involved in the negotiations for a sale. Ultimately Donald would need to agree to sell his 50% from what I understand.......and his attorney has said he wouldn't.soxhop411 said:Read the tweet above, he has signed a doc that has sold the team to Ballmer, no lawsuit
Could explain his CNN interview.HomeRunBaker said:Well this answers my question LOL! Sterling declared mentally incapacitated by doctors per the terms of the family trust. That Shelly is a sneaky little fox, isn't she?
http://probasketballtalk.nbcsports.com/2014/05/29/report-donald-sterling-declared-mentally-incompetent-clears-way-for-sale-of-team-to-ballmer/
soxhop411 said:
Kliq said:Remember a couple years ago when all the owners said they were losing money and started the lock-out? $2 billion for the LAC, and we are going to have an interesting CBA conversation when the current one expires.
The owners destroyed the players in the last round of negotiations leading to a huge jump in revenue and operating profits for these teams. Wait under the current ESPN/TNT $930m annual contract expires in two years......that new baby will exceed $2B annually plus what Asia/Europe are doing and these owners will see an even greater increase in their franchise values.Kliq said:Remember a couple years ago when all the owners said they were losing money and started the lock-out? $2 billion for the LAC, and we are going to have an interesting CBA conversation when the current one expires.
Kliq said:Remember a couple years ago when all the owners said they were losing money and started the lock-out? $2 billion for the LAC, and we are going to have an interesting CBA conversation when the current one expires.
HomeRunBaker said:Well this answers my question LOL! Sterling declared mentally incapacitated by doctors per the terms of the family trust. That Shelly is a sneaky little fox, isn't she?
http://probasketballtalk.nbcsports.com/2014/05/29/report-donald-sterling-declared-mentally-incompetent-clears-way-for-sale-of-team-to-ballmer/
CoRP said:
Ah America, a country where an 80-year old can espouse unpopular opinions in the privacy of his own home (that would have not been considered outside of societal norms when he was in his thirties), be declared more hated by society than mass murderers and terrorists because of these private comments, subsequently be declared mentally incapacitated by a doctor working with his estranged wife (without a court hearing), and as a consequence be stripped of a $2 billion asset. And everyone stands and applauds.