Donald Sterling agrees to sell the Los Angeles Clippers
Steve Ballmer has more of a reason to jump around now that he’s in an ideal position to finalize a purchase of the LA Clippers.
The former Microsoft CEO has won the bid to buy the team for a record-breaking $2 billion US, after Shelly Sterling agreed to sell the franchise. The billion dollar figure is roughly the same amount as his stake from Microsoft since he announced his retirement last year. However, the deal couldn’t be finalized until Donald Sterling, Shelly’s husband, approved of the sale. This just occurred on Wednesday, according to his attorney, Maxwell Blecher, who said he, “has made an agreement with the NBA to resolve all their differences.”
The Sterlings have been forced to sell the team after NBA commissioner Adam Silver banned Donald and family from the league for his racist remarks aimed at black people and Magic Johnson.
This isn’t the first time Ballmer has tried to have a stake in the NBA. He made a commitment to pay half of the price to renovate Seattle’s KeyArena, which would have kept the Supersonics from relocating to Oklahoma City. He also participated in a group bid to buy the Sacramento Kings, which he would have moved to Seattle.
This time around though, with the Clippers notable success in the biggest market in the NBA, it’s unlikely he would be able to relocate the team.