Just months after Forbes valued the Los Angeles Clippers at $575 million, the organization’s value has reportedly quadrupled. Multiple sources say former Microsoft chief executive Steve Ballmer has submitted a likely winning bid of $2 billion to buy the team from Shelly Sterling.
According to James Rainey of the Los Angeles Times, Ballmer’s record-setting bid outdid all those made by a group of competitors, which includes media mogul David Geffen and the owners of the Los Angeles Dodgers. Though a deal between Ballmer and Shelly Sterling appears imminent, they’ve yet to reach a formal agreement by Thursday evening.
Ballmer and the Clippers current owners had not finalized a deal by late Thursday afternoon.
Bobby Samini, an attorney for Donald Sterling, said as he left the team owner’s home: “There’s been no sale. There can be no sale without Donald’s signature.”
Reports also say Shelly – along with her banned husband, Donald Sterling – are intent on selling the team before an NBA Board of Governors’ meeting on June 3 would likely end with the league forcibly wresting the franchise from her family.
Just over one month after commissioner Adam Silver laid the hammer down on basketball’s worst ownership group, the Sterling saga is likely finished. Good riddance, and congratulations to Ballmer, his family, and members of the Clippers organization.
Is Steve Ballmer a good owner for the Clippers?
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