NBA — 29 May 2014
Former Microsoft CEO Offering $1.8 Billion for Clippers

As the days continue to pass, more and more potential investors are letting their serious intentions of purchasing the Clippers be known. The actual worth of Clippers is somewhere just north of $1 billion, according to Forbes, but offer should exceed that.

Former Microsoft CEO Steve Ballmer is reportedly submitting a bid for $1.8 billion. Rochelle Sterling, who is allegedly negotiating the sale of the team is looking to make a timely sale. On June 3, NBA owners are voting whether or not they will be forced to sell the team.

It’s funny how things pan out. What this Sterling situation went down about 15-20 years ago. It would’ve been interesting to see those bids. Now, the Clippers are the hottest ticket in all of sports ownership.

Former Microsoft CEO Steve Ballmer has offered $1.8 billion for the Los Angeles Clippers, according to a person familiar with Ballmer’s interest in the NBA team. Ballmer, who retired as Microsoft’s CEO four months ago has a net worth of $20 billion. Another source, with intimate knowledge of the bids that Rochelle Sterling has thus far received for the basketball team, said offers have come in between $1 billion and $2 billion and that the Ballmer package is strong.

It is still early in the bidding process for the Clippers and it is quite possible that the price could go higher, especially if interested parties join forces to buy the team. Still, I must tip my hat to Bill Simmons, who predicted at the end of April that the basketball team would fetch $1.75 billion. Donald Sterling bought the Clippers in June, 1981 for $12.5 million. NBA owners are voting June 3 to force he and his wife Rochelle to sell the team due to racist comments made by him in private that were taped and subsequently made public.

 

H/T: Forbes 

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Kevin Burke

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