Steve Ballmer Buys Los Angeles Clippers for $2 Billion (P. 5)

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BoomRizzle
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Wow... Crazy.

ClipperKyle32
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Shelly really handled herself like a PRO.

Donald sues the NBA , I will take up the cost.

Donald has really boxed himself into a corner.

clipnasty
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BoomRizzle wrote:
Wow... Crazy.

Yea, I do not get how that one works....most interesting part for me.

slestack11
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I don't really see what ties Ballmer has to Seattle anymore. He was forced out of his CEO position at Microsoft and was not happy with his colleagues for it. I mean, he's not from Seattle originally, it's just a place he worked for many years. He said he's retired now and not geographically restrained anymore so why wouldn't he be excited to move to a big city and roll with celebrities at the Staples Center. After he buys his house out here and realizes life is so much better when it doesn't rain 300 days out of the year, he will be putting Seattle in his rearview mirror. When he was buying the Kings and looking to move to Seattle, he was in the market for a BMW. When the Clippers went on sale, he said F#$% It, I'm gonna splurge and get the Ferrari. I doubt he'll go ahead and trade this Ferrari for the BMW he was looking for last year.

ClipperKyle32
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The Trust and the NBA have agreed. Sole Trustee -- Shelly Sterling has agreed that any lawsuit that comes the NBAs way she will pay ( indemnify ).

clipnasty
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Kyle, I am a lawyer, so I understand what it means, I just am at a loss as to how she can agree to that. My presumption is she can indemnify the NBA is the Trust sues because SHE IS THE TRUST so there is little to no risk there, but I am shocked she will indemnify the NBA if and when the Donald himself, individually sues.

cleepers
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So it appears Shelly Sterling had quite a hand in rescuing us all from Donald Sterling.

I'm starting to feel for the first time that this is a done deal. Very exciting indeed!

Now we just need to hire the finest salary cap-heads in the business to figure out just how much of Ballmer's money they can give the league in luxury tax.

CapsNClips
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It's weird to think about, but where would we be without Shelly Sterling?

She's definitely a terrible person, but she absolutely saved our franchise.

JQuick32
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GOODBYE AND GOOD RIDDANCE DTS!

BoomRizzle
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Exciting.

http://t.co/KN8xJae2S5

cleepers
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If the trust is the official owner, only the trust could sue for being stripped of ownership, right?

I guess Donald could fight his 2.5mil fine if it was levied against the man and not the trust, but that seems like a drop in the ocean compared to the sale price.

clipnasty
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More like Shelly's legal team....but yes.

clipnasty
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Most likely that is correct. However, people file suits that they are not entitled to file ALL the time, and someone still needs to defend them/knock them out. He can still fight the fine and being personally banned by the NBA.

FightOnRon
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Maybe,as she was claiming,she really is a fan and did the right thing (of course to make a bazillion dollars)

FightOnRon
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The NBA has approved former Microsoft CEO Steve Ballmer's $2 billion bid to buy the Los Angeles Clippers, the league said in a statement Friday night.

The sale is subject to approval from the league's owners before it can be finalized.

Tuesday's scheduled NBA Board of Governors meeting has been canceled. Shelly Sterling had pushed to negotiate a sale before the meeting, at which both of the Sterlings' ownership interests could have been terminated.

As part of the sale agreement, Shelly Sterling and the Sterling family trust have agreed not to sue the NBA and to absolve the NBA of litigation by others, including Donald Sterling.

Shelly's husband, Donald, was planning to file a $1 billion lawsuit against the league, his lawyer told ESPN.com's Ramona Shelburne earlier Friday.

FightOnRon
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for above

http://espn.go.com/los-angeles/nba/stor ... s-clippers

realbull17
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Does this deal includes the practice facility or Shelly Sterling still owns it?

clipnasty
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I heard it included it.

cleepers
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According to Ballmer's interview, Sterling will still own it, but a long-term lease is included in the sale price.

slestack11
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The sad thing about this upcoming lawsuit is that Sterling's lawyer is probably taking advantage of his alzheimers to try to get a cut of that $2 billion they just got. The longer they drag this case on, the more money the lawyers can pocket for themselves. The sharks smell blood.

slestack11
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Bill Simmons predicted that Ballmer's next move is to buy LA Live, Staples Center, and the LA Kings off of AEG. I actually think his next move will be to settle this whole NFL thing and buy an NFL team to move into Farmers Field. How much are the Rams worth?

cleepers
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Ballmer buying Staples center would be the greatest thing ever.

"STFU and pay your rent, laker scum!" Yellow_Flash_Colorz_PDT_04

uncool
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Report: Language in purchase agreement states Steve Ballmer will not move Clippers from Los Angeles http://t.co/5ZFW28QAVx

  • Kurt Helin (@basketballtalk)
ClippersDA
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Seattle fans are kind of icky -'I just read one comment from one hoping that ballmer is going to "Bennett" us...why would you wish that on a fanbase, especially one that has endured so much

ClipperKyle32
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Ballmer buying Staples center would be the greatest thing ever. "STFU and pay your rent, laker scum!" Yellow_Flash_Colorz_PDT_04
....

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ClipperKyle32
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FreaKeyy
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Chris and his new boss just having a little chat. CP probably feels like a real billionaire's son. Get me this player... Get me that

FreaKeyy
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^its a video btw so just click on it.

illastrate
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clipnasty
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When is this going to be official, ie voted on by the Board of Governors?

CP3Best
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IT'S OFFICIAL! Clippers ARE SOLD pending approval from the nba for the new owner which is Steve Ballmer, so I expect by this time next week Ballmer will be our NEW OWNER!

CP3Best
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Part of the agreement of this sale is that word "INDEMNIFY"! If Donald sues the NBA he's really suing his wife Shelly. Shelly is covering for the nba at this point. Any money that nba would have to pay in this suit, Shelly would cover. NBA comes out with their hands clean, and their pockets full out of this one...

clipnasty
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It is not official, as your post indicates...."pending approval." I would hope/expect that the NBA gets on this ASAP to approve it so Donald does not seek an injunction or otherwise change his mind.

JQuick32
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The sad part is that as a diehard NHL fan, I fully expect the incompetent commissioner Gary Bettman to actually sell a team to him if he wants one. He almost let the Maloofs into the league.

clipnasty
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JQuick32 wrote:

The sad part is that as a diehard NHL fan, I fully expect the incompetent commissioner Gary Bettman to actually sell a team to him if he wants one. He almost let the Maloofs into the league.

I hope that is not an "off-color" joke...

BennyBeFly
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So...any news on this becoming official and approved by the NBA? Wasn't their supposed to be a vote by the Board of Governors today? I've heard NOTHING on it.

A_DOG_NAMED_BUD
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I couldn't believe people are complaining about Ballmer overpaying for the Clippers. He's worth 20+ billion dollars. He can afford to over for this team. He doesn't care about getting a good deal. He cares about the cachet that comes with owning not only an NBA franchise, but one of the most exciting franchises in the NBA. Not to mention it's LA!

Anyway, I can't wait to see Ballmer to do this after we win it all next year:

ClippersDA
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When is the board of governors vote?

CP3Best
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There is NO MORE vote! Sale is pending nba approval for the new owner Steve Ballmer, some sort of screening process of sorts...

ClippersDA
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Don't they need to vote to approve him?

clippyclip
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Yes they do, and I thought they were going to use today's meeting to do so, but maybe not.

BennyBeFly
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I was under that impression also! Its been complete silence. The vote for the owners to approve the sale was supposed to be today. I hope there hasn't been a hold up in the process.

clipnasty
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It is my understanding that a vote by the B.O.G. is required. There is no reason to expect it will not be in favor, but it is bizarre that they have not yet announced anything.

ClippersSince97
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i think the next header should include ballmer lol

ClippersDA
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I do wish our next owner was an La guy, but I like Ballmer. His kid is in high school in Seattle - not sure how this will work. I want to believe him so badly! Maybe it's the tradition of waiting for the other shoe to drop.

JQuick32
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FightOnRon
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http://www.nbclosangeles.com/news/local/Donald-Sterling-Agrees-to-Se ll-Clippers-for-2-Billion-261890561.html Donald Sterling officially announced on Wednesday the NBA and he and his wife, Shelly, have agreed to sell the Los Angeles Clippers to Steve Ballmer for $2 billion and various additional benefits, Sterling's lawyer told NBC News. All disputes and outstanding issues have been resolved, according to Sterling's lawyer. Watch: Donald Sterling Ready to "Move On" as Clippers Sale Is Finalized: Exclusive Sterling told NBC4 in an exclusive interview on Tuesday he was ready to "move on" from the team. "I feel fabulous, I feel very good. Everything is just the way it should be, really. It may have worked out differently, but....

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worm
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Everything is good we just wait for the approval of NBA board of governors.

ClippersDA
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Sterling dropping lawsuit and agreeing to sell not that he had a choice

FightOnRon
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Of course he will forget all about this by tomorrow if he has dementia and the lawsuit will be back on.

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