Posted on 08/19/2014 9:42:47 AM PDT by SeekAndFind
Steve Ballmer is fired up about owning the Clippers.
When Steve Ballmer agreed to purchase the Los Angeles Clippers for a reported $2 billion, many felt he was overpaying for the franchise simply because the team was a toy he wanted and he was willing to pay whatever it took to make that happen.
When comparing the sale price to the team's revenues and EBITDA (earnings before interest, taxes, depreciation, and amortization), it does appear that Ballmer's bid was completely out of whack with what others have paid for NBA teams in recent years.
Ballmer addressed this issue on "The Dan Patrick Show" when he was asked by Mike Florio if his purchase of the Clippers is an investment or "a personal thing." His answer seems to suggest that he is content if the team is not a great financial investment.
"I have a passion for basketball. That's why I made this investment. I want to run not just an excellent team but an excellent experience and an excellent business. If we run an excellent business we'll be more excellent as a team, everything will kind of fit together well. I believe this will be a perfectly decent investment. If you were trying to strike it rich you might buy something else. I think most people think I paid certainly a premium price. But I don't think it is going to be a bad investment. Certainly its got more earnings and its a lot cheaper than a lot of tech stocks you find these days."
(Excerpt) Read more at businessinsider.com ...
Yep. Same reason I paid two grand for a rifle. Ain't nobody's business but my own.
RE: Because he has more money than he knows what to do with?
Last check, he was worth $25 Billion. So he took less than 10% of that and bought a team for fun.
RE: In 14 years he did nothing for Microsoft.
Well, I love:
Windows 7
Visual Studio
The C# programming language
Powershell Scripting
SQL Server
Sharepoint
and Microsoft Office
It wasn’t all bad.
Just surprised he didn’t go after the NFL team that is up for sale
That’s where the big money an big egos are
The last game I saw had Dr. J in it. I don’t miss it.
Now, for a real waste of money, watch what the Sterling family ends up doing with the 2 billion - figure a couple hundred wasted trying to buy back his standing with the NAACP, more women on the side, plus some extra boy toys for the wife, a messy divorce, children suing parents - Ballmer’s purchase is going to look extremely conservative by comparison.
Keep searching.
Which team, Clippers or Lakers, has the sexiest (sluttiest?) cheerleaders?
If we run an excellent business...
***
He’ll need to hire somebody who knows how to run an excellent business.
Clipper believe or not they going have good team this year I don’t see anything with Lakers they are old sadly to report
Man Ballmer was hyper in that Clipper fan festival
So, does this mean that the Clippers are going to wind up being the “Windows 8” of the NBA?
Wonder if Ballmer knows the Clippers get third choice on playing dates at Staples Center. Lakers get first choice, Kings second.
Why does he even have to justify it beyond “I wanted it, so I bought it.”?
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