Donald Sterling Throws in the Towel: the Clippers to Steve Ballmer

Donald Sterling decided to withdraw a $1 billion lawsuit against the NBA and agreed to sell the Clippers to former Microsoft CEO Steve Ballmer for $2 billion.  According to an official release, Shelly Sterling in her deal with Ballmer agreed to “indemnify the NBA against lawsuits from others, including Donald Sterling.”  On the other hand, Donald Sterling’s lawyer Max Blecher stated that the decision to withdraw came as a result of the NBA’s agreement not to sue Sterling in return. Sterling’s $1 billion lawsuit against…
Continue reading...

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…
Continue reading...