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Steve Ballmer Wins Bidding for Clippers With $2 Billion Price Tag (Report)
The Hollywood Reporter ^

Posted on 05/29/2014 7:32:19 PM PDT by drewh

Former Microsoft CEO Steve Ballmer is reportedly set to buy the Los Angeles Clippers for $2 billion.

The news came after weeks of speculation on the fate of the team since Donald Sterling was banned for life from the NBA by commissioner Adam Silver on April 29.

The sale would be the highest ever paid for a NBA team. The previous record was set last month with the sale of the Milwaukee Bucks for $550 million.

Sterling bought the Clippers in 1981 for $13.5 million.

STORY: Donald Sterling's Wife Approached by Bidders for the Clippers

Ballmer was chosen over competitors that included Los Angeles-based investors Tony Ressler and Steve Karsh and a group that included David Geffen and executives from the Guggenheim Group, the Chicago-based owner of the Los Angeles Dodgers, according to The Los Angeles Times.

It was previously reported that Shelly Sterling met with Ballmer on Sunday to discuss terms of a sale.


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1 posted on 05/29/2014 7:32:19 PM PDT by drewh
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To: drewh

So now, who is to say that the Sterlings didn’t set this whole thing up to get an outrageous price for the Clippers?


2 posted on 05/29/2014 7:36:27 PM PDT by SubMareener (Save us from Quarterly Freepathons! Become a MONTHLY DONOR!)
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To: drewh

Can I ask a stupid question? If the estimated value of the team was about $550 million, how can someone come along and pay an incredible $2 billion, to overpay by that much? Was there behind the scenes shenanigans to set up this deal? Was the goal to make Sterling an offer he couldn’t refuse, to make this whole Sterling controversy disappear???

And, considering that Ballmer had been active in trying to bring NBA basketball to Seattle, is there any chance the team will move to Seattle??


3 posted on 05/29/2014 7:37:13 PM PDT by Dilbert San Diego (et)
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To: drewh

Wow! f he turned that down she could probably have him committed.

Good gtief what a price.


4 posted on 05/29/2014 7:37:56 PM PDT by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat Party!)
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To: Dilbert San Diego

The headline says there was “bidding”

His was the winning bid I guess


5 posted on 05/29/2014 7:38:01 PM PDT by GeronL (Vote for Conservatives not for Republicans)
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To: drewh

Donald Sterling’s Best Investment:”The LA Clippers”;his worst:”A Telephone”!!!!!!!!!!!!!!!


6 posted on 05/29/2014 7:39:40 PM PDT by bandleader
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To: Dilbert San Diego
$2 billion is the budget of most states.

Just a ridiculous price to pay for, up until now, the most losingest team in professional sports.

7 posted on 05/29/2014 7:41:17 PM PDT by Extremely Extreme Extremist
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To: drewh

I am still trying to find the words to describe what Donald Sterling has done in turning a few racial slurs into a nearly $1 billion virtually tax-free profit.

That is son-of-a-bitchery of the highest order.


8 posted on 05/29/2014 7:42:13 PM PDT by Loyalist (Now available in organic fair trade gluten-free probiotic industrial strength!)
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To: Extremely Extreme Extremist

Weren’t they in the playoffs?


9 posted on 05/29/2014 7:44:19 PM PDT by GeronL (Vote for Conservatives not for Republicans)
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To: drewh

If the intention was to lower the price of the team and sell it to one of those black guys who were speculated about earlier, then it looks like a major fail.


10 posted on 05/29/2014 7:49:23 PM PDT by Cicero (Marcus Tullius)
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To: Cicero

5% Nation will decry this as racist pricing


11 posted on 05/29/2014 7:51:20 PM PDT by GeronL (Vote for Conservatives not for Republicans)
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To: Dilbert San Diego

“considering that Ballmer had been active in trying to bring NBA basketball to Seattle, is there any chance the team will move to Seattle?”

Ballmer probably has developers working on that right now.

http://www.youtube.com/watch?v=8To-6VIJZRE


12 posted on 05/29/2014 7:52:05 PM PDT by Rebelbase (Tagline: optional, printed after your name on post)
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To: Extremely Extreme Extremist

When you are worth 20+ billion dollars and just became unemployed so you can indulge a long deferred mid life crisis, what else are you going to do?


13 posted on 05/29/2014 7:52:20 PM PDT by rdcbn
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To: mrsmith

Ballmer could have spent twice as much and would still have more money than he could ever want. This is nothing more than a toy for him.


14 posted on 05/29/2014 7:53:41 PM PDT by Oshkalaboomboom
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To: drewh

Donald Sterling should post selfies of himself rolling in money, just to irritate people.

15 posted on 05/29/2014 7:55:09 PM PDT by Vince Ferrer
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To: Vince Ferrer

Lol


16 posted on 05/29/2014 7:56:06 PM PDT by GeronL (Vote for Conservatives not for Republicans)
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To: drewh

Don’t tell Melissa Harris - Perry that the Clippers have a new massa’...


17 posted on 05/29/2014 7:56:14 PM PDT by bolobaby
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To: drewh

SOLD!


18 posted on 05/29/2014 7:59:45 PM PDT by Free Vulcan (Vote Republican! You can vote Democrat when you're dead...)
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To: Dilbert San Diego
And, considering that Ballmer had been active in trying to bring NBA basketball to Seattle, is there any chance the team will move to Seattle??

There was a radio report today (local espn-la) that the $2B offer was contingent on moving the team to Seattle.This of couse complcates an already complex deal. Or reported deal.

19 posted on 05/29/2014 8:04:27 PM PDT by quimby
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Comment #20 Removed by Moderator


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