Steve Ballmer Pays $2 Billion for Clippers

The biggest deal ever in the NBA history was announced: Steve Ballmer has signed a binding contract to sell the Clippers with Shelly Sterling for $2 billion.  While the sale is subject to an approval from the NBA, Donald Sterling’s attorneys argue that as a co-owner of the team, he must consent to the deal and he does not plan to do so. Maxwell Blecher, one of Donald Sterling’s lawyers, had conveyed earlier that his client intends to keep the team in his family and…
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NBA Makes a Strong Statement Banning Clippers Owner Sterling For Life

NBA Commissioner Adam Silver issued severe sanctions against Los Angeles Clippers’ owner Donald Sterling, banning him from the sport for life and fining him $2.5 million for the racist remarks Sterling admitted he uttered to his girlfriend.  In a statement to the press Silver noted, “As part of the lifetime ban, Mr. Sterling may not attend any NBA games or practices, be present at any Clippers office or facility, or participate in any business or player personnel decisions involving the team.  He will also be…
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The Worm Turns: Rodman’s Latest Antics Could Land Him in Hot Water with the Feds

The bizarre friendship between former NBA star Dennis Rodman and North Korean dictator Kim Jong Un may land the ex-baller in legal trouble.  During Rodman’s latest trip to Pyongyang earlier this month, Rodman supposedly brought a wide variety of gifts to help Kim celebrate the dictator’s 31st birthday. However, those gifts – which included a great deal of Jameson whiskey, European crystal, several expensive fashion items, and bottles of Rodman’s own liquor brand “Bad Ass Vodka” estimated to be worth over $10,000 – appear…
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The End of the Greatest Sports Deal of All Time

It’s been called the greatest deal in sports franchise history, and now, it may finally come to an end. The NBA has long hoped to be relieved of a 1976 agreement that gave two brothers one-seventh of the visual media revenues received by four NBA teams. The agreement didn’t seem outrageous in 1976, but in 2014, that agreement has given the brothers over $300 million in media revenue. Finally, the NBA and the two brothers, Daniel and Ozzie Silna, are coming to a settlement to…
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The “Greatest Sports Business Deal Of All Time” Coming to an End?

The NBA, and more specifically, four of its teams, were on the wrong side of an historic windfall.  And now, they’re looking to get out of it. When the ABA merged with the NBA in 1976, the plan was to keep four of the league’s seven teams: the Denver Nuggets, San Antonio Spurs, New York (later New Jersey and now Brooklyn) Nets and Indiana Pacers. The Virginia Squires were folded by the ABA before the end of the season due to financial problems.  The Kentucky…
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Kobe Bryant Meets Auction House at Half Court in Memorabilia Settlement

Kobe Bryant met a New Jersey auction company in the middle on Monday, June 10, 2013 during settlement discussions. Bryant and Goldin Auctions LLC reached a settlement agreement ending a month long battle over a collection of the NBA star’s memorabilia spanning all the way back to Bryant’s high school career. Bryant’s mother Pamela Bryant offered Goldin a collection of Bryant memorabilia in return for an advance of $450,000 in January 2013. Items include several of Bryant’s high school uniforms, his 1996 High School All-American…
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Jay-Z Branches Out Into Sports, Lands Cano and Cruz; Is LeBron Next?

Jay-Z has built an impressive empire as a rap mogul, and now he’s moving into sports, reaching an agreement with Creative Artists Agency (CAA), which represents more than 800 professional athletes. Jay-Z has wasted no time making moves, signing on New York Yankees second baseman Robinson Cano, and New York Giants wide receiver Victor Cruz as clients.  This move into the world of sports agency has not gone unnoticed. Cano was signed away from Scott Boras, universally regarded as baseball’s most powerful agent. And…
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