Steve Ballmer Pays $2 Billion for Clippers

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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 that “it is not about money.”  He further noted that Sterling is considering suing the NBA if he fails to get vindicated by the league.

The sale must be approved by 75% of the 30 NBA franchise owners to go through. CNN reports that the meeting next Tuesday in which Donald Sterling is expected to be voted out may be rescheduled upon this new development.

Ballmer’s bid topped a $1.6 billion offer from a group led by David Geffen and Oprah Winfrey.  Regarding the possibility of relocating the Clippers to Seattle, Ballmer previously stated that the team would stay in Los Angeles.

Ballmer agrees to buy Clippers for record $2 billion

Steve Ballmer cuts $2B deal for Clippers; Seattle’s efforts thrown into doubt

 

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