Clippers sold for $2 Billion

[casmith07]

So says the Mrs. The Mr.'s attorney says NOT SO FAST! Him say without the Mr.'s sig then it can't be done.

Hmm.

Sterling was found to be mentally incompetent by a board of experts, so the Sterling Family Trust (under the hand of his wife) was able to complete the deal.

My understanding was that Sterling didn't have a legal leg to stand on... In more ways than one.

Why over pay THAT much?

There was a bidding war.

 

[casmith07]

There was a 1.6 billion dollar offer, but it was withdrawn. Not sure if it was before or after the 2 billion dollar offer.

There were two other bids by two other investment groups, one valued at $1.6B and the other at $1.8B. Steve Ballmer stepped in the other day with the winning $2B bid, and the deal was finalized and forwarded to the league office for approval.

The litigation is futile, but Sterling's attorneys will surely litigate now with a $2B windfall with which their attorney's fees can be paid.

 

[CanadianCowboysFan]

2 billion for the second team in LA that doesn't even own the building in which it plays is nuts. How much are the Lakers worth?

 

[burmafrd]

considering how the NBA can show that the franchise sold for more than its worth its going to be fun watching the shysters trying to argue there was damage to sterling not of his own making.

 

[BringBackThatOleTimeBoys]

Sterling was found to be mentally incompetent by a board of experts, so the Sterling Family Trust (under the hand of his wife) was able to complete the deal.



There was a bidding war.

I wish those experts would come to Cleveland and Dallas

 

[StarBoyz83]

It's hard to believe that the clippers are the most expensive NBA team!!!

 

[LittleBoyBlue]

There were two other bids by two other investment groups, one valued at $1.6B and the other at $1.8B. Steve Ballmer stepped in the other day with the winning $2B bid, and the deal was finalized and forwarded to the league office for approval.

The litigation is futile, but Sterling's attorneys will surely litigate now with a $2B windfall with which their attorney's fees can be paid.

Ahhh. Thanks for that info.

 

[LittleBoyBlue]

Yes "that" much. Here's a guy who is on his third or fourth attempt at buying a franchise and this one has multiple bidders, who are bidding over a billion a dollars ( the next highest bid was 1.2 billion BTW) for the team. So he wanted the team and paid 2 billion dollars for it. You call it overpaying, he calls it making it an investment into something he thinks can get him great return (Who doesn't see a Blake Griffin KIA commerical in there sleep these days). You can question it, but he put down an amount he thought no one would be able to get close enough to take away from him, and was right. Can't fault him for it.

Great return?

That remains to be seen. It will many years before he sees a return. Unless he sells ALL advertising rights to Microsoft. Names a building Microsoft convention center $$$$ lol

 

[casmith07]

It's hard to believe that the clippers are the most expensive NBA team!!!

They aren't. This is what happens when there's a fire sale and the team is basically put on "eBay"

 

[burmafrd]

Great return?

That remains to be seen. It will many years before he sees a return. Unless he sells ALL advertising rights to Microsoft. Names a building Microsoft convention center $$$$ lol

Be a long time before he makes up what he overspent. BUT this is clearly a lot more about things other than profit margins and making money. The ego gratification of owning a NBA team, etc.

 

[LittleBoyBlue]

Be a long time before he makes up what he overspent. BUT this is clearly a lot more about things other than profit margins and making money. The ego gratification of owning a NBA team, etc.

Indeed.
I get it.

I usually get deals when I buy... but sometimes I will over pay just to get what I want.

 

[casmith07]

Be a long time before he makes up what he overspent. BUT this is clearly a lot more about things other than profit margins and making money. The ego gratification of owning a NBA team, etc.

I don't think so. With the Lakers clearly in free-fall and the Clippers the hottest ticket in town, I think they'll be plenty successful.

As far as championships go, they are close. They just need to keep their team intact and improve a few positions and wait for the Miami Heat to break up (if they break up).

 

[Silver Surfer]

Be a long time before he makes up what he overspent. BUT this is clearly a lot more about things other than profit margins and making money. The ego gratification of owning a NBA team, etc.

Dude's worth about $20B. I guess he can can cough up 10% to start his next business. Maybe he can get on Shark Tank.

 

[BringBackThatOleTimeBoys]

Great return?

That remains to be seen. It will many years before he sees a return. Unless he sells ALL advertising rights to Microsoft. Names a building Microsoft convention center $$$$ lol

Ballmer is rolling the dice. What he's hoping for:

• higher TV revenues in 2016
• NBA grows
• LA is a big market
• Clippers will be the dominate NBA team the next few years (and he will actively help in that)

 

[BringBackThatOleTimeBoys]

One big question: Is Ballmer planning to move the Clippers to Seattle?

Nobody is going to admit to that at the get go. In the past, owners start saying "Don't worry", then incrementally make demands that will justify moving the team. The Clippers don't have a place of their own - let's see what Ballmer does with that.

If he does try to move the team, he might be hated more than Sterling but the toast of Seattle.

 

[Manwiththeplan]

One big question: Is Ballmer planning to move the Clippers to Seattle?

Nobody is going to admit to that at the get go. In the past, owners start saying "Don't worry", then incrementally make demands that will justify moving the team. The Clippers don't have a place of their own - let's see what Ballmer does with that.

If he does try to move the team, he might be hated more than Sterling but the toast of Seattle.

The Clippers aren't worth nearly as much outside of LA and to be honest, if they moved, the city won't hate him. Not enough real Clipper fans. They'regood ight now, so they are popular, but they are still the "other" LA team.

 

[LittleBoyBlue]

One big question: Is Ballmer planning to move the Clippers to Seattle?

Nobody is going to admit to that at the get go. In the past, owners start saying "Don't worry", then incrementally make demands that will justify moving the team. The Clippers don't have a place of their own - let's see what Ballmer does with that.

If he does try to move the team, he might be hated more than Sterling but the toast of Seattle.

Yeah Ballmer did say they were staying in LA.... besides Seattle has a team.

 

[kristie]

Damn! The Cowboys would have to be worth at least three times that. Amazing

i think you could be right on that.

 

[Hoofbite]

Yeah Ballmer did say they were staying in LA.... besides Seattle has a team.

They don't have a basketball team.

I think Ballmer had to basically give up his dreams of moving the team to get the deal done.

 

[Hoofbite]

Scaled to the Clippers numbers, Dallas would be worth $8B

http://sports.yahoo.com/blogs/nfl-s...he-cowboys-or-Commanders-fetch-195606415.html