Posted on 05/06/2014 11:15:42 AM PDT by 2ndDivisionVet
Donald Sterling’s reputation had a bad week, but his pocketbook has never looked better. The punishment meted out by NBA Commissioner Silver—the maximum league fine of $2.5 million—pales in comparison to the billion dollars Sterling stands to make from selling the Clippers. Ironically, the league’s nuclear option—a forced sale—could also end up lining Sterling’s pocketbook with millions in tax savings. Instead of his just deserts, will Sterling end up with a sweet tax treat?
First, there’s never been a better time for Sterling to sell, financially speaking. The Clippers have historically been regarded as one of the worst teams in all of professional sports. During the first 30 years of Sterling’s ownership (1981-2011), the Clippers won more games than they lost only twice. They made the playoffs just four times and managed to eke out only one playoff series win. But since 2011, they’ve made the playoffs every year and are even considered a fringe contender for the NBA title this season. Potential buyers can expect to see strong continued performance because the Clippers’ core is locked up through next year or beyond thanks to Chris Paul, Blake Griffin, DeAndre Jordan, and Coach Doc Rivers.
With this strong platform, the Clippers could sell for $1 billion....
(Excerpt) Read more at news.yahoo.com ...
Maybe Sterling wanted out all along. He must have known about the forced sell clause. And he had enough money he doesn’t need to care what people think.
What A Deal!Sell Donald!!!!!!!!!!!!!!!!!!!!!!!!!!
Brier Rabbit comes to mind. You don’t become a Billionaire by being stupid.
He’s 80 and terminally ill, what does he care what some schlub in Podunk or Pittsburgh thinks of him?
A 200 million dollar bonus.......hmmm
The real shame is that a man said something in the privacy of his home, and because it leaked out, Americans are ready to crucify him. That qualifies as a thought crime. I hope he makes a fortune off of it, whether he needs it or not.
I agree, especially since it looks like he was taped without his knowledge. This shouldn’t even be an issue and his mistress should be in jail awaiting trial. But that’s not the America we live in.
And he leaked the tape to TMZ himself?
Wow. Just wow.
Charles Barkley said on ESPN radio the Monday after all of this broke, that he wouldn’t force him to sell as this would be nothing but a reward for Sterling. Sterling bought the team for $15 million and is now valued at $750 million +.
Now factor in this loophole and Sir Charles looks like a prophetic genius...
Two facts argue against that. First, in his long career in real estate Sterling has always been loathe to sell anything he buys. He purchases property during low prices and refinances them during high prices. He seldom divests.
Two, Sterling wants to be seen as a big shot, which he can't do if they take his team away. He's a publicity whore in a town where the status is everything. Without the clippers he's just a slumlord. With the Clippers he's sports mogul.
Just “deserts”? So....The illiterate writer is comparing the payday to a hot, arid landscape incapable of supporting most forms of life?
I agree. The insanity of the people going after him is shocking. Reminds me of the Paula Deen affair in its ferocity.
It’s more likely that he’s never been held accountable for being a terrible human being and this was merely the latest of many acts.
He’ll make out like a bandit, because in a few years, when contracts need to be renewed, the team won’t be worth as much.
I have no mercy for anyone who buys an NBA from now on, whatever outrages they endure.
LOL!!!!
We Love Ya, Man!
CA....
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