Former Microsoft CEO Steve Ballmer to buy Clippers for $2 Billion

[nightprowler10]

http://www.latimes.com/sports/la-sp-sn-clippers-sale-ballmer-20140529-story.html


Former Microsoft chief executive Steve Ballmer won a frenetic bidding war for ownership of the Los Angeles Clippers, with his $2-billion offer setting a record price for an NBA team, The Times has learned.

[TheMarkMadsen]

how does he feel about the blacks?

[Beastmode88]

in before "he's white"

[Haymaker]

So the Sterling are winners in all this?

[Bobcats2013]

Rich white people spending money for dookie and hehes.

[Droid101]

So the Sterling are winners in all this?
Oh no they're not! All their staunch defenders on here said all along that they were being treated unfairly and FIRST AMMENDMENT and furthermore, comma

[mattvNJ]

Jesus talk about Deep pockets... wasnt it valued around $750-a smidge over a B

[bagelred]

He's changing the name to the L.A. Blackpeoplesarethebests

[rule1223]

wtf 2 billion, and sterling prolly bought it for bag of potatoes

[Droid101]

wtf 2 billion, and sterling prolly bought it for bag of potatoes
$14 million I believe, back in the early 80's? Something like that.

[nightprowler10]

Jesus talk about Deep pockets... wasnt it valued around $750-a smidge over a B
People are willing to overpay for the Clippers for a couple of reasons. Owning an NBA franchise has great potential for global marketing, especially when you own that franchise in a popular city like LA. Also, I think their TV deal is getting renewed in 2015 which is expected to be a big deal.

Basically, people are willing to overpay by a lot based on potential alone.

[Draz]

This team won't be worth shit like it once did when they were irrelevant in a few years.

They can't even get passed the second round.

[Haymaker]

wtf 2 billion, and sterling prolly bought it for bag of potatoes

12 millions to be exact. Nice profit.

[nightprowler10]

This team won't be worth shit like it once did when they were irrelevant in a few years.

They can't even get passed the second round.
Different owner could make a huge difference though.

[Straight_Ballin]

Someone overpaid....

If he makes a comment about a particular race in private and it's somehow made know to the public, are people going to whine and act all offended and complain about it?!?!

[Beastmode88]

12 millions to be exact. Nice profit.

you have to consider inflation to make that accurate.

In 2013, the relative value of $12,500,000.00 from 1981 ranges from $27,400,000.00 to $65,400,000.00 according to http://www.measuringworth.com/.

[Droid101]

Someone overpaid....

If he makes a comment about a particular race in private and it's somehow made know to the public, are people going to whine and act all offended and complain about it?!?!

He's changing the name to the L.A. Blackpeoplesarethebests

Shouldn't a black person be the owner? To make sure 100% that he isn't racist.



Aaaaand here come the valiant racist defenders to protect Mr. Sterling's honor! You are brave and good men at heart, gentlemen.

[Real Men Wear Green]

This team won't be worth shit like it once did when they were irrelevant in a few years.

They can't even get passed the second round.
Disagree. A huge reason they struggled was cheap ownership. Assuming the NBA approves the sale they'll be in L.A. with a great coach, rich owner and a superstar pf to build with. Especially of Buss proves incompetent they have a great chance to make a mark.

[PickernRoller]

Shouldn't a black person be the owner? To make sure 100% that he isn't racist.

[BrainDead]

Shouldn't a black person be the owner? To make sure 100% that he isn't racist.
:facepalm :facepalm :facepalm

White is right!

[3LiftHeatCurse]

Inb4 Seattle SuperSonics are back.

[Beastmode88]

Shouldn't a black person be the owner? To make sure 100% that he isn't racist.

Cause black people aren't racist? That's the dumbest thing I've heard all day.

[bigkingsfan]

So the Sterling are winners in all this?
They were already billionaires. Now they're hated billionaires.

[SwishSquared]

Was the report that the Sterlings wanted a $300M non-refundable downpayment true? There was a rumor going around that they'd take this $300M and the ownership of team officially wouldn't transfer due to expected pending lawsuit(s), such as DTS suing the league and the fact that if the Sterlings are officially going through a divorce then all assets would be frozen, including team ownership. I'm sure Ballmer wouldn't have bought the team if all this was true, but he also tried to buy Yahoo for like $44B a few years ago, so you never know haha.

[BasedTom]

Microsoft?

Can't wait for the Seattle-OKC rivalry. Hopefully Bennet's bitch ass loses every time

[DuMa]

Goddamn these moguls

[BasedTom]

Shouldn't a black person be the owner? To make sure 100% that he isn't racist.
There are more racist black people than white. :(

[DStebb716]

So... Seattle or no?

[Akrazotile]

Aaaaand here come the valiant racist defenders to protect Mr. Sterling's honor! You are brave and good men at heart, gentlemen.


Here comes the oversensitive weenie...

[PleezeBelieve]

welcome to Seattle.

[Adam Silver]

Ballmer just requested that I let him take the team to Seattle. What do you guys think? Should I let him?

[franchise#3]

Steve Balmer right now:

https://www.youtube.com/watch?v=I14b-C67EXY

[Darius]

This is best thing possible for clippers. This guy is Cuban but smarter and way richer.

He makes Buss family look like thy are pan handling on sunset blvd

[CavaliersFTW]

https://www.youtube.com/watch?v=wvsboPUjrGc

[maybeshewill13]

Is this the guy that's in with Hanson and the Seattle group?

[gts]

Ballmer is the guy that tried to move the Kings to Seattle right?

[gts]

Is this the guy that's in with Hanson and the Seattle group?

great minds think alike

[Akrazotile]

This is best thing possible for clippers. This guy is Cuban but smarter and way richer.

He makes Buss family look like thy are pan handling on sunset blvd


I dont know much about this dude at all. In what ways is he smarter?

[gts]

not that it means anything but....

Marc Stein ‏@ESPNSteinLine 25m
Donald Sterling's lawyer Max Blecher tells ESPN he has not signed off on any sale

[Darius]

I dont know much about this dude at all. In what ways is he smarter?

He co founded and was long term CEO of one the biggest companies in the world (Microsoft). 35th richest person in the world.

[Rubio2Gasol]

Sterling should just take the deal.

Way more than that sorry ass Franchise with a career loser at it's helm is worth.

[Kiddlovesnets]

It seems that Sterling is going to screw this over again, sucks when you have an owner like him. Kinda reminded me of the time we were stuck with Bruce Ratner in New Jersey, well at least he did do us a huge favor and sold our team to a Russian billionaire.
:lol

[longtime lurker]

Bu bu bu I thought the NBA was going to make sure it goes to a black owner so they can prove they're not racist and continue to take away the rights of the white man! :oldlol:

[DMAVS41]

2 billion?

Damn...that is literally paying double (at least) for what it is actually worth.

God...the NBA is making out like a bandit with this Sterling thing. They look great for getting rid of a racist owner...and now it seems people are willing to go crazy to buy this franchise.

[gts]

so bizarre...lol

you have one person saying one thing and another saying the opposite...

Ramona Shelburne ‏@ramonashelburne
There is now a signed, binding agreement between Ballmer and the Sterling family trust to sell the Clippers for $2billion, ESPN has learned

Andrea Chang ‏@byandreachang
Sterling's lawyer told me that Sterling already has "a couple billion dollars," so "he could not care less" about Ballmer's $2-billion bid.

[longtime lurker]

2 billion?

Damn...that is literally paying double (at least) for what it is actually worth.

God...the NBA is making out like a bandit with this Sterling thing. They look great for getting rid of a racist owner...and now it seems people are willing to go crazy to buy this franchise.

What was the Lakers tv contract? Around 3 billion? The dude will easily make a some of that money back when it comes time to negotiate a tv contract. People forget Sterling is the worst owner in all of pro sports. The Clippers routinely turned a profit despite being the shittiest team in the NBA. The league literally had to gift them Chris Paul for them to even be talked about. Now imagine a owner who's actually willing to spend and go into luxury tax in the LA market.

[fragokota]

12 millions to be exact. Nice profit.

Does he have any kids? Cause he won't take them with him...

[dreamwarrior]

Say hello to the Clippers new mascot

http://i.imgur.com/mu3Gkjj.jpg

[PickernRoller]

Cause black people aren't racist? That's the dumbest thing I've heard all day.

Given the hysteria around this whole debacle it seems that the only correct option is a black billionaire buying the team.

Next thing you know you'll have TMZ wiring Balmers house and phones to make sure he isn't "racist"?

A lie detector test should also be administered before the sale. Balmer has to swear 5 times a day that he's not racist. A solid sample size should give us an idea.

Simply a matter of public interest w/ the Clippers organization and the NBA at heart that's all. :rolleyes:

[buddha]

Seattle Supersonics are back baby!

[chocolatethunder]

He co founded and was long term CEO of one the biggest companies in the world (Microsoft). 35th richest person in the world.
He was not a cofounder of Microsoft, but he was CEO after Gates. Paul Allen, who owns the Blazers, is the cofounder of Microsoft. I mean how can you watch basketball and not know that? Ballmer is the guy who said that the iPhone wouldn't get any market share and laughed at it. Ballmer is a blowhard and even more annoying that Cuban. He's known for being obnoxious and being a quote machine (not always in a good way). Either way, he overpaid for this team but that doesn't matter, he won't be selling it any time soon. Enjoy this video.

http://m.youtube.com/watch?v=I14b-C67EXY

[3LiftHeatCurse]

I dont know much about this dude at all. In what ways is he smarter?


Dude, Steve Ballmer..... Microsoft...... him and Bill Gates.... come on

it's like asking who is Steve Wozniak

[Akrazotile]

Dude, Steve Ballmer..... Microsoft...... him and Bill Gates.... come on

it's like asking who is Steve Wozniak


Uhh... I didn't say I didn't know who he is. I said I don't know much about him. Someone asserted that he's smarter than Mark Cuban. I asked in what ways.

So far nobody has answered the question.

[eliteballer]

On top of Ballmer flat out saying he won't move them because it would be value destructive, I'll give you two reasons they won't:

Population of Metro Seattle: 3.5 million

Population of the Greater Los Angeles Area: 18 million

Not even factoring in that the Lakers also market to San Diego, Las Vegas, and I believe Hawaii, so I'm assuming the Clippers do too, at least to SD.

[Derka]

....*breath*

TWO F*CKING BILLION DOLLARS.

[flipogb]

Gates might as well join his buddies and buy a team too

[9512]

Ballmer just requested that I let him take the team to Seattle. What do you guys think? Should I let him?

Board of governors vote doe.

[Tmuston Beltics]

so bizarre...lol

you have one person saying one thing and another saying the opposite...

Ramona Shelburne ‏@ramonashelburne
There is now a signed, binding agreement between Ballmer and the Sterling family trust to sell the Clippers for $2billion, ESPN has learned

Andrea Chang ‏@byandreachang
Sterling's lawyer told me that Sterling already has "a couple billion dollars," so "he could not care less" about Ballmer's $2-billion bid.

loool... yeah it's only $2,000,000,000

[beastee]

Gotta suck to overpay like that knowing you have an overrated PG who cant get past the second round. But it is the ex Microsoft boss we are talking about...wow.

[PejaNowitzki]

Disagree. A huge reason they struggled was cheap ownership. Assuming the NBA approves the sale they'll be in L.A. with a great coach, rich owner and a superstar pf to build with. Especially of Buss proves incompetent they have a great chance to make a mark.



This. Clippers went from a racist, dirtbag cheapskate and now have an owner with some of the deepest pockets in the NBA. Ballmer is going to put some major money into that team, even more than he has already, won't be shocked to see them as one of the NBA's premier teams for a long time to come.

[PejaNowitzki]

Gotta suck to overpay like that knowing you have an overrated PG who cant get past the second round. But it is the ex Microsoft boss we are talking about...wow.


He's got a net worth of about 19 billion and he already gives a crapload to charity, what else are you going to do with that money? Ballmer could drop another couple of billion into the Clippers if he wanted without breaking a sweat. He's the definition of balling out of control.

[gts]

I wonder if this will move any owners that may have been on the fence about selling to put their team on the market

[fpliii]

I wonder if this will move any owners that may have been on the fence about selling to put their team on the market
2 billion for the Clippers is crazy dude, can't believe this. :facepalm

I can't imagine many teams would sell for more...Lakers and Knicks for sure, probably Celtics, maybe Nets and Bulls? Or maybe I'm overestimating the importance of market size.

[SacJB Shady]

Sterling will fight this

[eliteballer]

He's got a net worth of about 19 billion and he already gives a crapload to charity, what else are you going to do with that money? Ballmer could drop another couple of billion into the Clippers if he wanted without breaking a sweat. He's the definition of balling out of control.


:oldlol:

[gts]

2 billion for the Clippers is crazy dude, can't believe this. :facepalm

I can't imagine many teams would sell for more...Lakers and Knicks for sure, probably Celtics, maybe Nets and Bulls? Or maybe I'm overestimating the importance of market size.

all the big market team stocks just went up that's for sure...

not that the Clippers are actually worth 2 billion on paper (the purchase price includes real estate too and the possible TV deal adds value) but I'd have to think the fact somebody paid that much for them will push everyone else's value higher, even the small market teams by a couple hundred million

[AceManIII]

Donald Sterling prolly forgot he gave his wife permission to sell...:oldlol: :oldlol:

[Akrazotile]

This. Clippers went from a racist, dirtbag cheapskate and now have an owner with some of the deepest pockets in the NBA. Ballmer is going to put some major money into that team...won't be shocked to see them as one of the NBA's premier teams for a long time to come.


Just like the Knicks. :pimp:

Right?

Edit: And the Nets :pimp:

[Bandito]

Just like the Knicks. :pimp:

Right?

Edit: And the Nets :pimp:
I don't like where this is going...:(

[josh99]

Say hello to the Clippers new mascot

http://i.imgur.com/mu3Gkjj.jpg
:oldlol:

[oarabbus]

People are willing to overpay for the Clippers for a couple of reasons. Owning an NBA franchise has great potential for global marketing, especially when you own that franchise in a popular city like LA. Also, I think their TV deal is getting renewed in 2015 which is expected to be a big deal.

Basically, people are willing to overpay by a lot based on potential alone.


Exactly. It's not unlike picking a 1st round draft pick based on potential.

[oarabbus]

:oldlol:


What's funny about that? Ballmer is ballin harder than all but a few people in the entire world :coleman:

[gts]

This. Clippers went from a racist, dirtbag cheapskate and now have an owner with some of the deepest pockets in the NBA. Ballmer is going to put some major money into that team, even more than he has already, won't be shocked to see them as one of the NBA's premier teams for a long time to come.Doesn't matter... The CBA is so restrictive now to teams that spend money you could be the richest man in the world and the rules won't allow you to spend your money... Worth 19 billion or 1 billion if you're too far over the cap you can only sign vets to minimum contracts... You can't even sign and trade your way into the tax paying team category now.

It's great they'll have new ownership, good for the league to get this behind them, great for Clipper fans to get some fresh blood in there and good for the city of LA that the team will stay put. but in the end what the owner is worth is just window dressing... The small market teams made owners like this superfluous in the last lockout

[chris02jammers]

so How Much is the Lakers worth? 5 to 6 Billion probably?

[crisoner]

2 Billion dollars for what has been historically the worst franchise in the NBA. Smh. Wow and you keep them in LA next to the NBA's most historic franchise???? Move them to Seattle.

[oarabbus]

Doesn't matter... The CBA is so restrictive now to teams that spend money you could be the richest man in the world and the rules won't allow you to spend your money... Worth 19 billion or 1 billion if you're too far over the cap you can only sign vets to minimum contracts... You can't even sign and trade your way into the tax paying team category now.

It's great they'll have new ownership, good for the league to get this behind them, great for Clipper fans to get some fresh blood in there and good for the city of LA that the team will stay put. but in the end what the owner is worth is just window dressing... The small market teams made owners like this superfluous in the last lockout

Come on now. Of course it matters. Look no further than James Dolan to see that ownership chance hugely affect a team.

[gts]

so How Much is the Lakers worth? 5 to 6 Billion probably? one sports economy guy on twitter said Knicks and Lakers will now jump up to the 3.5 level by next years accounting...

[Akrazotile]

2 Billion dollars for what has been historically the worst franchise in the NBA. Smh. Wow and you keep them in LA next to the NBA's most historic franchise???? Move them to Seattle.


Laker fans confirmed shook.

[chris02jammers]

one sports economy guy on twitter said Knicks and Lakers will now jump up to the 3.5 level by next years accounting...
Thanks! :cheers:

The worse thing Balmer would do is to relocate the Clippers to Seattle...
Diminishing the value of the franchise

Hope to see more on this

https://www.youtube.com/watch?v=wvsboPUjrGc

[Duggrr]

Move Clippers to Seattle, rename to Supersonics. Move Utah to the Pacific Division to make way for Sonics in the Northwest?

[Darius]

Laker fans shook as fvck in this thread :oldlol:

Clippers have two best players in LA and the richest owner in the league (richer than Prok). A guy that could outspend their owners 30 times over.

[LoneyROY7]

:rockon: :rockon: :rockon:

Clippers stay running basketball in LA. Haters mad.

[hawkfan]

Steve Ballmer was forced out of Microsoft for many reasons, one being that he was totally wrong about the iPhone:

https://www.youtube.com/watch?v=eywi0h_Y5_U

Hopefully he won't run the Clippers the way he ran Microsoft.

[LoneyROY7]

It'll be nice saying that the Clips are the most valuable franchise in the NBA. :applause:

[coin24]

It'll be nice saying that the Clips are the most valuable franchise in the NBA. :applause:

Shame they'll never make it out of the second round with Floppy Paul on the team :oldlol:

[LoneyROY7]

Shame they'll never make it out of the second round with Floppy Paul on the team :oldlol:

How's that Lakers outlook right now?

1. Didn't make the playoffs. *check*
2. Didn't get a top 5 pick. *check*
3. Just fired another coach. *check*
4. Led by an old star on his last legs. *check*
5. No impressive young players. *check*
6. Being driven into the ground by Jim Buss. *check*

Looking goooooood.

:roll: :roll: :roll:

[AT9]

Go Sonics!

[coin24]

How's that Lakers outlook right now?

1. Didn't make the playoffs. *check*
2. Didn't get a top 5 pick. *check*
3. Just fired another coach. *check*
4. Led by an old star on his last legs. *check*
5. No impressive young players. *check*
6. Being driven into the ground by Jim Buss. *check*

Looking goooooood.

:roll: :roll: :roll:

Sounds like the clippers for the last 20+ years:lol


Lakers will be back in no time :pimp:

[fiddy]

12 millions to be exact. Nice profit.
-30% tax, that most likely go to welfare checks

[bdreason]

This team had an empty arena 3 years ago. Forcing Sterling to sell his team at this price is doing him a favor. If the Clippers go back to being an ordinary team (once CP3/Griffin leave), they'll be playing in an empty arena once again.

L.A. is Lakers country, always has been, always will be. Paying $2 billion for a franchise with no history, who play 2nd fiddle in their own city? Huge mistake.

[fiddy]

This team had an empty arena 3 years ago. Forcing Sterling to sell his team at this price is doing him a favor. If the Clippers go back to being an ordinary team (once CP3/Griffin leave), they'll be playing in an empty arena once again.

L.A. is Lakers country, always has been, always will be. Paying $2 billion for a franchise with no history, who play 2nd fiddle in their own city? Huge mistake.
Really? Clippers 2011 17,742 average attendance of home games :roll:
http://espn.go.com/nba/attendance/_/year/2011

[NumberSix]

2 billion?

Damn...that is literally paying double (at least) for what it is actually worth.

God...the NBA is making out like a bandit with this Sterling thing. They look great for getting rid of a racist owner...and now it seems people are willing to go crazy to buy this franchise.
What it sells for = what it's worth

[bdreason]

Really? Clippers 2011 17,742 average attendance of home games :roll:
http://espn.go.com/nba/attendance/_/year/2011



2010 bottom 10 in attendance. 2009 bottom 8 in attendance. This for the 2nd largest market in the NBA. Attendance records in L.A. are also inflated because of the number of corporate tickets purchased.

Before the Griffin/CP3/Lob City era, the Clippers had an argument for being the worst franchise in the history of the NBA. Now they're worth $2 billion dollars?


I'll tell you what, the new owner better make sure the Clippers stay legit contenders.... forever. Because as soon as they go back to being a non-playoff team, that bandwagon is going to empty quickly, and so is the arena.

[NumberSix]

-30% tax, that most likely go to welfare checks
20%

[All Net]

Great news for the city really. Get sterling out on all costs.

[fiddy]

2010 bottom 10 in attendance. 2009 bottom 8 in attendance. This for the 2nd largest market in the NBA. Attendance records in L.A. are also inflated because of the number of corporate tickets purchased.

Before the Griffin/CP3/Lob City era, the Clippers had an argument for being the worst franchise in the history of the NBA. Now they're worth $2 billion dollars?


I'll tell you what, the new owner better make sure the Clippers stay legit contenders.... forever. Because as soon as they go back to being a non-playoff team, that bandwagon is going to empty quickly, and so is the arena.
Yes because, whoever buys them is buying a contender ready to compete. BTW in the last 7-8 years Clippers always had attendance percentage of 84% or higher regardless of being "garbage franchise". which is far from empty games.

[fiddy]

20%
thats still like 400 million :eek:

[Rondooooooooooo]

Banned Clippers owner Donald Sterling, 80, recently was found by experts to be mentally incapacitated, allowing his wife, Shelly Sterling, to become the sole trustee and giving her the power to deal directly with Ballmer under guidelines previously established in the Sterling family trust, sources told Shelburne and ESPN's Darren Rovell. The rules of the trust did not require a court hearing first to declare that Donald Sterling is in that state.


Shelly Sterling announced late Thursday night that she has signed an agreement to sell the Los Angeles Clippers to former Microsoft chief executive Steve Ballmer for $2 billion.

Sterling signed the contract on behalf of the Sterling family trust, which owns the Clippers.

"I am delighted that we are selling the team to Steve, who will be a terrific owner," Sterling said in a statement. "We have worked for 33 years to build the Clippers into a premiere NBA franchise. I am confident that Steve will take the team to new levels of success."


Looks like it is a done deal. Sterling was found to be "mentally incapacitated" which left his wife to control the team, and she signed the agreement. This is bittersweet, good to see sterling get out, but it seems like his wife did him dirty by getting experts to find him "mentally incapacitated". She is now going to divorce sterling and prolly take 1 billion with her. Would have rather seen sterling fight, lose, and sell the team on his own.

[navy]

What happened to fighting this till the bitter end?

[fiddy]

Looks like it is a done deal. Sterling was found to be "mentally incapacitated" which left his wife to control the team, and she signed the agreement. This is bittersweet, good to see sterling get out, but it seems like his wife did him dirty by getting experts to find him "mentally incapacitated". She is now going to divorce sterling and prolly take 1 billion with her. Would have rather seen sterling fight, lose, and sell the team on his own.
So he got screwed by a bitch twice in a month or so.

[fiddy]

20%
http://taxfoundation.org/blog/how-high-are-capital-gains-tax-rates-your-state
33% noob


Sterling, however, would stand to pay $662 million in capital gains taxes as part of the transaction.
http://nba.si.com/2014/05/29/report-former-microsoft-ceo-steve-ballmer-clippers-bid-2-billion/

[NumberSix]

http://taxfoundation.org/blog/how-high-are-capital-gains-tax-rates-your-state
33% noob

http://nba.si.com/2014/05/29/report-former-microsoft-ceo-steve-ballmer-clippers-bid-2-billion/
Wow. Had no idea that California had an additional 13% tax. That's freaking ridiculous.

Keep in mind though. The state tax is not 13% of $2B. It's 13% of $1.6B

[dazzer87]

http://img3.wikia.nocookie.net/__cb20090112213502/uncyclopedia/images/5/5d/Bill_Gates_and_Steve_Ballmer_dance.GIF

[Droid101]

Poor billionaire has to pay taxes on his sale? Oh no! Whatever will he do? He'll be panhandling in a week to pay for it!

[Im Still Ballin]

Ballmer is straight baller !

[DuMa]

BALL so Hard university!

[NumberSix]

BALL so Hard university!
Tangerine trees and marmalade skies

[Akrazotile]

Poor billionaire has to pay taxes on his sale? Oh no! Whatever will he do? He'll be panhandling in a week to pay for it!


There is truly no bigger fakkit than droid101

[Kiddlovesnets]

Well why is this stickied when the deal is not yet signed or finalized?

[Darius]

This team had an empty arena 3 years ago. Forcing Sterling to sell his team at this price is doing him a favor. If the Clippers go back to being an ordinary team (once CP3/Griffin leave), they'll be playing in an empty arena once again.

L.A. is Lakers country, always has been, always will be. Paying $2 billion for a franchise with no history, who play 2nd fiddle in their own city? Huge mistake.

Business men of highest caliber (Guggenheim, Geffen, Ballmer) offer $1.6b-$2bn for franchise based on team of analysts.

Random guy on Internet says it's a huge mistake.

[gts]

"Commissioner Silver has consistently said the preferred outcome to the Clippers proceeding would be a voluntary sale of the team.

Shelly Sterling advised the NBA last night that an agreement had been reached with Steve Ballmer, and the NBA Advisory/Finance Committee met via conference call this morning to discuss these developments.

We await the submission of necessary documentation from Mrs. Sterling. In the meantime, the June 3 special meeting of the NBA Board of Governors remains as scheduled."

[gts]

Just learned something new... The Clippers do not own the rights to the luxury suites at Staples like the Lakers do... Staples controls all the luxury suites during Clipper games except for 2 of them

[Droid101]

Just learned something new... The Clippers do not own the rights to the luxury suites at Staples like the Lakers do... Staples controls all the luxury suites during Clipper games except for 2 of them
lolippers

[dazzer87]

Ballmer is paying Ca$h for the team..........:bowdown: :bowdown: :bowdown:

[SacJB Shady]

Even if you're not paying Sterling, you paid Sterling already as a fan, and now you're paying the man who made Sterling 2 billion richer. So has anything really changed? What has been accomplished?

[gts]

Donald Sterling, who bought the team in 1981 for $12.5 million, had earlier authorized his wife to negotiate the sale of the franchise, but his attorney, Bobby Samini, said Sterling is "not selling the team. That's his position. He's not going to sell."

Sources tell CBS News that Shelly Sterling's legal team is seeking to give her sole control of the sale of the team on grounds that Donald Sterling is mentally incapacitated.

However, Bobby Samini, one of Donald Sterling's attorneys, told CBS News Friday that "the assertion that Donald Sterling lacks mental capacity is absurd."

Earlier, another Sterling attorney, Maxwell Blecher, told CBS News he had "no court order declaring Mr. Sterling mentally incompetent."



http://www.cbsnews.com/news/nba-shelly-sterling-oks-clippers-sale-but-deal-not-done/

interesting that last night Shelly Sterling was telling ESPN that Donald was declared mentally unfit and she could legally sell the team and today her "legal team is seeking to give her sole control of the sale of the team on grounds that Donald Sterling is mentally incapacitated".

[Darius]

This is a crazy melodrama.

[gts]

This is a crazy melodrama.yes it is...

[Akrazotile]

This is a crazy melodrama.


Its amazing how much more focused on this stuff we are rather than things like, violent crime and teen pregnancy.


I guess its just more fun to heap scorn on a rich white guy than get our hands dirty facing difficult issues and risking being labeled a meanie.

Right guys?

[rhythmic]

Dude gets a ridiculous capital gain from this sale.

[gts]

and here we go...

Ramona Shelburne ‏@ramonashelburne 8m

Sterling's lawyer MAx Blecher tells ESPN he is filing a lawsuit against the NBA for $1 billion in damages, still weighing suit vs. Shelly

Blecher: "The charges in the lawsuit are an invasion of his constitutional rights, violation of anti-trust laws, breach of fiduciary duty ..

Blecher said he's suing the NBA for damages to Donald Sterling brought on by their lifetime ban and termination charges

darren rovell ‏@darrenrovell 3m
The NBA has been preparing itself for Donald Sterling to sue since Adam Silver announced his ban & fine.

[Soundwave]

Sterling should take the money and run, that's a king's ransom for a historically piece of sh*t franchise that doesn't even come with an arena (Sterling doesn't own Staples Center).

[NumberSix]

Sterling should take the money and run, that's a king's ransom for a historically piece of sh*t franchise.
The guy's not in his right mind.

[Soundwave]

The guy's not in his right mind.

Clearly. His trust lawyers are probably pulling their hair out.

[gts]

Sterling should take the money and run, that's a king's ransom for a historically piece of sh*t franchise that doesn't even come with an arena (Sterling doesn't own Staples Center).


roughly 1600% profit over his original investment, too bad the league's actions caused the team to be sold at a depressed price (sarcasm)

[Soundwave]

roughly 1600% profit over his original investment, too bad the league's actions caused the team to be sold at a depressed price (sarcasm)

The wild PR publicity this whole situation has gotten has probably actually sent the price of the franchise sky high by inviting an artificial bidding war (I hear Puff Daddy has a group of investors!).

Clippers aren't worth nearly this amount, they don't even have arena rights.

Ballmer just has ridiculous amounts of money, I had a friend who's dad was one of the original Microsoft investors, he had a music studio built in their house for their daughter which she used a whopping one time :lol

[NumberSix]

roughly 1600% profit over his original investment, too bad the league's actions caused the team to be sold at a depressed price (sarcasm)
you might want to recheck the number of 0's

[All Net]

Well why is this stickied when the deal is not yet signed or finalized?
Because it's a damn worthy discussion

[gts]

The wild PR publicity this whole situation has gotten has probably actually sent the price of the franchise sky high by inviting an artificial bidding war (I hear Puff Daddy has a group of investors!).

Clippers aren't worth nearly this amount, they don't even have arena rights.

Ballmer just has ridiculous amounts of money, I had a friend who's dad was one of the original Microsoft investors, he had a music studio built in their house for their daughter which she used a whopping one time :lol

The team is definitely not worth that type of money but that's not a concern for Ballmer..

As I mentioned before they don't even own the rights to the luxury suites in Staples Center.. and as you mention they don't have arena rights, even their new practice facility which I assume comes with the deal is only worth 100 million and the TV deal which is a couple years away is no guarantee to be anything approaching the Lakers...

This is a toy for Ballmer, not saying he won't take it serious, I think he'll be 100% emotionally invested in the team but he didn't buy this as an investment He bought it to fulfill a dream of owning a team and was happy t overpay for that right

[qrich]

Why are some people so damn salty? It's quite entertaining. From some of the Laker fans, to the Warrior fans and those crying to move the team to Seattle.

I still can't grasp how one can believe that moving a franchise that is at the highest point, in one of the biggest markets, if not the biggest, that was always in the green, even winning games in the mid to high 20s would be better off relocating to an area which was not able to fully maintain a franchise in the past?

[Bernkastel]

He really wanted a team. It's a drop in the bucket for him, but two billion dollars for the Clippers is crazy. :eek:

[outbreak]

Does this mean clips to seattle? Ballmer tried to but the sonics and has always been involved in trying to get a new team in seattle

[outbreak]

Why are some people so damn salty? It's quite entertaining. From some of the Laker fans, to the Warrior fans and those crying to move the team to Seattle.

I still can't grasp how one can believe that moving a franchise that is at the highest point, in one of the biggest markets, if not the biggest, that was always in the green, even winning games in the mid to high 20s would be better off relocating to an area which was not able to fully maintain a franchise in the past?
Wasn't seattles issue the owner not wanting to pay for a new arena and the city council demanding he pay some of the costs,? A new owner willing to spend on q new arena would be fine there

[DCL]

all the times that our old windows operating systems have broken down... we contributed to microsoft. we all contributed to balmer's massive wealth. so in a way, we contributed to the ridiculous overvaluation of the clippers. :lol

[MavsSuperFan]

If I was a Clippers fan I would be a little concerned that Ballmer bought my team

Steve Ballmer is Microsoft's former CEO. He has ties to the Pacific Northwest.

Much in the same way OKC's ownership had ties to OKC. Sure moving a team away from LA doesn't make any sense but neither does moving a team from Seattle to OKC

[MavsSuperFan]

2 billion?

Damn...that is literally paying double (at least) for what it is actually worth.

God...the NBA is making out like a bandit with this Sterling thing. They look great for getting rid of a racist owner...and now it seems people are willing to go crazy to buy this franchise.
Does the nba get a cut?
From where I stand the racist is getting an incredible deal. 12 million in 1981 to 2 billion in 2014.

Proves that good things happen to bad people.

[MavsSuperFan]

Why are some people so damn salty? It's quite entertaining. From some of the Laker fans, to the Warrior fans and those crying to move the team to Seattle.

I still can't grasp how one can believe that moving a franchise that is at the highest point, in one of the biggest markets, if not the biggest, that was always in the green, even winning games in the mid to high 20s would be better off relocating to an area which was not able to fully maintain a franchise in the past?
It makes no sense to move a team out of la.

Just like it made no sense to move from a world class city like Seattle to a hick town like Okc.

Why wasn't ballmer in on bidding on the sonic originally?

[Fawker]

i have a feeling years down the line the team will be moved from a sharing market like LA to an exclusive bigger slice like Seattle.

[All Net]

i have a feeling years down the line the team will be moved from a sharing market like LA to an exclusive bigger slice like Seattle.
Well Clippers can't be moved. It's part of the agreement

[LoneyROY7]

Straight from Ballmer's mouth:

"I am keeping the team in Los Angeles."

[TrueRob]

This is great that the Clippers have a new owner. I've wanted Sterling gone long before the scandal, and it provided an excellent opportunity to get rid of a bad owner. Sterling was basically holding the team hostage for all these years.

[MavsSuperFan]

Straight from Ballmer's mouth:

"I am keeping the team in Los Angeles."
That really doesnt mean much.

I personally would be extremely surprised if he moved them to seattle, but that doesnt mean much.

Clay Bennett claimed to want to stay in seattle, and we all know that was bs in retrospect.

[LoneyROY7]

That really doesnt mean much.

I personally would be extremely surprised if he moved them to seattle, but that doesnt mean much.

Clay Bennett claimed to want to stay in seattle, and we all know that was bs in retrospect.

Is this enough for you?


Ramona Shelburne ✔ @ramonashelburne

There is language in the purchase agreement w/ Ballmer that states he will not move the Clippers from Los Angeles, source says.

[MavsSuperFan]

Is this enough for you?
I dont expect them to move. I have never gotten the impression that ballmer is as loyal to the pacific northwest as bennett was to okc

[Draz]

Move the team to Seattle.

[LoneyROY7]

Move the team to Seattle.

Dumbfvck.

[DCL]

forbes did an NBA valuation thing back in jan 2014.

they valued the knicks at 1.4billion. the lakers were #2 at 1.35b. the clippers were valued at 575 million (#13 on the list).

http://www.forbes.com/teams/los-angeles-clippers/

i think steve ballmer just really wanted to become an nba owner at ANY COST. it's not a business move. it's a hobby move.

[D-Rose]

forbes did an NBA valuation thing back in jan 2014.

they valued the knicks at 1.4billion. the lakers were #2 at 1.35b. the clippers were valued at 575 million (#13 on the list).

http://www.forbes.com/teams/los-angeles-clippers/

i think steve ballmer just really wanted to become an nba owner at ANY COST. it's not a business move. it's a hobby move.
Ballmer certainly overpaid but the other bids were 1.6 and 1.2 billion I believe. I think this has somewhat to do with the controversy. Overall, we learned that market value =/= sale price.

[NumberSix]

Ballmer certainly overpaid but the other bids were 1.6 and 1.2 billion I believe. I think this has somewhat to do with the controversy. Overall, we learned that market value =/= sale price.
I don't know why people keep taking appraisal value more seriously than real world market value. For some reason, people think a guess of what the team can sell for is more reliable than what it actually did sell for.

The price it was able to fetch = what it is worth.

[fiddy]

http://www.tmz.com/2014/05/30/donald-sterling-alzheimers-los-angeles-clippers-shelly/

Turns out Sterling has Alzheimer's

[gts]

forbes did an NBA valuation thing back in jan 2014.

they valued the knicks at 1.4billion. the lakers were #2 at 1.35b. the clippers were valued at 575 million (#13 on the list).

http://www.forbes.com/teams/los-angeles-clippers/

i think steve ballmer just really wanted to become an nba owner at ANY COST. it's not a business move. it's a hobby move.

Yep.. the price tag doesn't represent the value, it represents how badly Ballmer wanted the team..

When you outbid everyone else by 800 million dollars in the first round of bidding and everyone else pulls out... you just overpaid.

And that OK, he wants the team he has the money and he only reps himself...

[NumberSix]

Yep.. the price tag doesn't represent the value, it represents how badly Ballmer wanted the team..

When you outbid everyone else by 800 million dollars in the first round of bidding and everyone else pulls out... you just overpaid.

And that OK, he wants the team he has the money and he only reps himself...
The 2nd highest bid was $1.6 billion. That's not a difference of $800 million.

[Lakers Legend#32]

Hey Balmer, you b###h thanks for stabbing Seattle in the back.

[Kiddlovesnets]

Well he would not bring this team to Seattle for every reason. When he was about to purchase the Kings the situation was different, it was Sacramento, not a city better than Seattle. Why would you want to move if you are already in a large city/market like New York or Los Angeles. Just from business point of view theres no incentive to move this team to Seattle.

[MavsSuperFan]

Well he would not bring this team to Seattle for every reason. When he was about to purchase the Kings the situation was different, it was Sacramento, not a city better than Seattle. Why would you want to move if you are already in a large city/market like New York or Los Angeles. Just from business point of view theres no incentive to move this team to Seattle.
He lacks loyalty doe. Good for clipper fans.

[Darius]

Yep.. the price tag doesn't represent the value, it represents how badly Ballmer wanted the team..

When you outbid everyone else by 800 million dollars in the first round of bidding and everyone else pulls out... you just overpaid.

And that OK, he wants the team he has the money and he only reps himself...

People are buying skyscrapers in NYC for $1b to get a yield of $20m or even less.

Clippers are a rare commodity as well.

$2b is a big number but asset prices are going through the roof due to inflation.

He might have overpaid a little bit but not by much.

[Kiddlovesnets]

He lacks loyalty doe. Good for clipper fans.

Cant blame him for this, he spent 2 billion on this Clippers team and you cant ask him to do more than this. The Clippers still own a contract with Stapples center, why do they leave?

[NumberSix]

Well he would not bring this team to Seattle for every reason. When he was about to purchase the Kings the situation was different, it was Sacramento, not a city better than Seattle. Why would you want to move if you are already in a large city/market like New York or Los Angeles. Just from business point of view theres no incentive to move this team to Seattle.
Because he wants a team in Seattle and the Clippers was the team that was for sale.

[eliteballer]

There is language IN THE CONTRACT that says he won't move the team.

[NumberSix]

There is language IN THE CONTRACT that says he won't move the team.
Allegedly.

[LoneyROY7]

Allegedly.

:facepalm

[Droid101]

:facepalm
6 is really going out of his way to look like an idiot regarding the Sterling saga. He just wants to be wrong about every aspect of it, looks like.

[DCL]

so now the knicks are worth almost 5 billion? ohhh kay, whatever. let's all just pull numbers out of our asses.

http://sports.yahoo.com/news/heres-much-every-nba-team-200108041.html

[gts]

so now the knicks are worth almost 5 billion? ohhh kay, whatever. let's all just pull numbers out of our asses.

http://sports.yahoo.com/news/heres-much-every-nba-team-200108041.html


if that were true the guy who just bought the Bucks is doing backflips in his office

[Soundwave]

When you have the type of wealth Ballmer does, a sports team isn't an investment.

It's a nice toy (the best kind of toy), that you can afford. When you're that wealthy it's really a problem to actually spend that much money, Lambos and yachts don't cut the mustard, a lot of the players themselves have those. And being in LA it also now means he has very nice venue to rub shoulders with movie stars and young girls look to "make it" in the city.

And if he ever does move the team to Seattle, in that case, he cements his legacy as a local hero back home. I don't think he'll actually do that, but I suspect he will lobby hard on the board to get another franchise to relocate to Seattle.

Plus he needs something to do now that he's out of Microsoft, Ballmer doesn't strike me as the type of guy who can just sit at home, a pro sports team is probably a perfect fit for an intense guy like him.

And it's good PR, you get to play white knight in the press, everyone will love you after Sterling alienated basically everyone.

[D-Rose]

Breaking: Ballmer will change the team name to The Los Angeles Developers.

[gts]

Breaking: Ballmer will change the team name to The Los Angeles Developers.:confusedshrug:

[D-Rose]

:confusedshrug:
https://www.youtube.com/watch?v=Vhh_GeBPOhs


aaand a remix lol : https://www.youtube.com/watch?v=8zEQhhaJsU4

I can't wait for this guy to be an owner lol. Imagine if the Clippers won the title :roll:

[gts]

https://www.youtube.com/watch?v=Vhh_GeBPOhs


aaand a remix lol : https://www.youtube.com/watch?v=8zEQhhaJsU4

I can't wait for this guy to be an owner lol. Imagine if the Clippers won the title :roll:

ahh ok.. it went right over my head but I'll admit to being blissfully ignorant when it comes to the men behind the scenes of the puter biz... I know who they are but I've not sought out more info... just make sure the damn thing works before you sell it to me... :lol

[brantonli]

so now the knicks are worth almost 5 billion? ohhh kay, whatever. let's all just pull numbers out of our asses.

http://sports.yahoo.com/news/heres-much-every-nba-team-200108041.html

jesus christ, whoever made that graph must've been so damn lazy and thought 'I'll just multiply the Forbes original value by 3.84 and that must be how much all the other NBA teams are worth now!' I hope nobody takes that graph seriously, the Clippers aren't suddenly going to be the new standard all other franchise values are set to, nor are people worth $20 billion clamoring to buy the Bucks or the Bobcats.

[D-Rose]

ahh ok.. it went right over my head but I'll admit to being blissfully ignorant when it comes to the men behind the scenes of the puter biz... I know who they are but I've not sought out more info... just make sure the damn thing works before you sell it to me... :lol
:cheers:

Haha, no worries...I didn't know of this either until recently from twitter.

[La Frescobaldi]

Breaking: Ballmer will change the team name to The Los Angeles Developers.

they're going to Seattle. It's a matter of time and I'd suspect not that much time either

[D-Rose]

they're going to Seattle. It's a matter of time and I'd suspect not that much time either
Can't break their contract w/ Staples Center for like 9 years. I also believe there was some language in the sale contract where Ballmer said (legally) that he won't move the team.

[La Frescobaldi]

Can't break their contract w/ Staples Center for like 9 years. I also believe there was some language in the sale contract where Ballmer said (legally) that he won't move the team.

if the dude will spend 2 billion dollars for the Buffalo Braves you think he cares about a trifle like buying out of a contract?

[NBAplayoffs2001]

The 2nd highest bid was $1.6 billion. That's not a difference of $800 million.

Then why not bid $1,600,000,000.01 :lol

[D-Rose]

if the dude will spend 2 billion dollars for the Buffalo Braves you think he cares about a trifle like buying out of a contract?
:rolleyes:

Let's just ignore the fact that the league and owners have to approve any move.

[La Frescobaldi]

:rolleyes:

Let's just ignore the fact that the league and owners have to approve any move.

I'd even bet a lot of them would like to increase markets into that TV region.

[D-Rose]

I'd even bet a lot of them would like to increase markets into that TV region.
Los Angeles mark despite the Lakers there is far more profitable than Seattle. Every analyst/reporter/finance person has said this. Makes no sense to move the team.

[gts]

Clippers aren't moving..

I always love when people expect other people with lots of money gained through being smart to suddenly do something dumb..

Ballmer is rich for a reason and it's not by being careless with his money.. Yes he overpaid to guarantee he became owner but that doesn't mean he's going to turn around and find a way to devalue the team by a billion dollars

[Adam Silver]

Breaking: Ballmer will change the team name to The Los Angeles Developers.

That's not true. He has never submitted such a name change request to me.

[dude77]

they just showed on the cnn ticker that ballmer bought the team for 2 million .. that's a hell of a deal

[tontoz]

NBA got rid of Sterling even faster than i though they would. Sterling is going to disappear like a fart in the wind.

[NumberSix]

NBA got rid of Sterling even faster than i though they would. Sterling is going to disappear like a fart in the wind.
I doubt he's even alive a year from now.

[tontoz]

I doubt he's even alive a year from now.


Need a tissue?

[NumberSix]

Need a tissue?
For?

[tontoz]

For?


Wiping away your tears. Or maybe wiping the brown stuff off your nose.

[NumberSix]

Wiping away your tears. Or maybe wiping the brown stuff off your nose.
Am I missing something?

[tontoz]

Am I missing something?



Yes, as usual. You have been missing things since this story came out.

You claimed that the NBA was just putting on a show of force as a PR stunt, knowing they couldn't actually enforce their penalties.

They got rid of Sterling before the season even ended. :lol

[NumberSix]

Yes, as usual. You have been missing things since this story came out.

You claimed that the NBA was just putting on a show of force as a PR stunt, knowing they couldn't actually enforce their penalties.

They got rid of Sterling before the season even ended. :lol
This has what to do with tissues?

[tontoz]

This has what to do with tissues?


It has to do with the fact that you are always missing something, just as you are with the tissues.

[ZenMaster]

Yes, as usual. You have been missing things since this story came out.

You claimed that the NBA was just putting on a show of force as a PR stunt, knowing they couldn't actually enforce their penalties.

They got rid of Sterling before the season even ended. :lol

To be fair the NBA was first to point out that they went a different way, instead they dealt with Shelly who had Donald declared mentally not fit to do business as an owner because of alzheimers.
It made everything in D.Sterlings suit not matter because technically he wasn't being forced to sell anymore.

[tontoz]

To be fair the NBA was first to point out that they went a different way, instead they dealt with Shelly who had Donald declared mentally not fit to do business as an owner because of alzheimers.
It made everything in D.Sterlings suit not matter because technically he wasn't being forced to sell anymore.


Sterling signed off on the deal even though he vowed to "fight to the bloody end". :lol

And when Shelly first got control of the team she said that the penalties don't apply to her and that she had no intention of selling. She sure changed her tune when she realized she had no choice but to sell.

[Real Men Wear Green]

To be fair the NBA was first to point out that they went a different way, instead they dealt with Shelly who had Donald declared mentally not fit to do business as an owner because of alzheimers.
It made everything in D.Sterlings suit not matter because technically he wasn't being forced to sell anymore.
The NBA wanted to get rid of Sterling. Why would they object to the sale? They basically accepted a surrender.

[NumberSix]

Sterling signed off on the deal even though he vowed to "fight to the bloody end". :lol

And when Shelly first got control of the team she said that the penalties don't apply to her and that she had no intention of selling. She sure changed her tune when she realized she had no choice but to sell.
OR...... When somebody offered 2 fcuking BILLION for it. :hammerhead:

[tontoz]

OR...... When somebody offered 2 fcuking BILLION for it. :hammerhead:


I wouldnt expect you to get the timing of the events correct.

The NBA hadn't stripped the Sterling's of their ownership yet. They had a meeting scheduled for june 3rd where they were going to have a vote to terminate ownership. The team was sold before then.

There were multiple bids on the team and Balmer's was obviously the highest. What your simple mind can't grasp is that the multiple bids happened AFTER Shelly decided to sell.

[NumberSix]

I wouldnt expect you to get the timing of the events correct.

The NBA hadn't stripped the Sterling's of their ownership yet. They had a meeting scheduled for june 3rd where they were going to have a vote to terminate ownership. The team was sold before then.

There were multiple bids on the team and Balmer's was obviously the highest. What your simple mind can't grasp is that the multiple bids happened AFTER Shelly decided to sell.
Unlike you, people with actual business experience understand the OBVIOUS that most things in deals like this happen behind closed doors. If you honestly believe that Steve Ballmer happened to see on the news that Shelley was considering selling and then he decided to call her up with an offer.... You're a fool of the highest order. Anyone with the slightest common sense understands that he obviously got in there the second he heard that Silver wanted Sterling out. Wouldntt be shocked if he wasn't in the know about having Donald declared incompetent in order to get the deal through.

[tontoz]

Unlike you, people with actual business experience understand the OBVIOUS that most things in deals like this happen behind closed doors. If you honestly believe that Steve Ballmer happened to see on the news that Shelley was considering selling and then he decided to call her up with an offer.... You're a fool of the highest order. Anyone with the slightest common sense understands that he obviously got in there the second he heard that Silver wanted Sterling out. Wouldntt be shocked if he wasn't in the know about having Donald declared incompetent in order to get the deal through.


Multiple bids were submitted at the same time. Shelly put the team up for sale, several people bid on it and Balmers was the highest. People wouldn't have submitted bids if Shelly hadn't decided to sell. And they certainly wouldn't have bid on it if Balmer had already said he would pay 2 billion.

She initially said she had no intention of selling so why would teams be submitting bids before june 3?

[NumberSix]

Multiple bids were submitted at the same time. Shelly put the team up for sale, several people bid on it and Balmers was the highest. People wouldn't have submitted bids if Shelly hadn't decided to sell. And they certainly wouldn't have bid on it if Balmer had already said he would pay 2 billion.

She initially said she had no intention of selling so why would teams be submitting bids before june 3?
It's called playing hardball, fυck-wad.

[tontoz]

It's called playing hardball, fυck-wad.


The NBA announced Sterling's ban in April. Then a month later several potential buyers decided to submit bids simultaneously?

:facepalm