Steve Balmer To Buy Los Angeles Clippers From Donald Sterling For $2 Billion
Steve Balmer, the former Microsoft CEO, has reportedly signed an agreement to pay $2 billion dollars to the Sterling family trust for ownership of the Los Angeles Clippers.
Steve Balmer Buying Clippers
Balmer apparently negotiated the sale with disgraced owner Donald Sterling’s wife, Shelly Sterling, reported CNN. The tech mogul reportedly initially offered the Sterlings $1.8 billion, but co-owner Shelly insisted he go up to $2 billion if he wanted the team. Though the Shelly Sterling has agreed to Balmer’s price, an NBA Board of governors will have to approve the sale.
Donald Sterling will also have to approve of the sale, according to his lawyer Maxwell Blecher. While the $2 million might be sufficient monetary payment, there’s something else he wants before he sells the team; he wants the NBA to say he’s not a racist.
“He wants to be vindicated. He doesn't want his tombstone to say, 'Here lies Donald Sterling, racist,’” said Blecher. “And the NBA has the power to make that right.”
In addition to Balmer, who is worth a reported $20 billion, a number of others have supposedly thrown their hat into the ring to pick up the NBA franchise. Among those interested were media moguls David Geffen and Oprah Winfrey, who both reportedly offered $1.6 million for the team.
NBA commissioner Adam Silver banned Donald Sterling from the NBA for life after taped conversations with V. Stiviano revealed troubling racist sentiment, as he chastised her for bringing black men to Clippers games and posting pictures with them on her Instagram page. Silver also called on the other NBA owners to force Sterling out of ownership.
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