The Los Angeles Clippers may have a new owner.
According to the Los Angeles Times, former Microsoft C.E.O. Steve Ballmer wants to purchase the Clippers for $2 billion.
Ballmer, who spent 14 years at the helm of Microsoft, is part of a group with Los Angeles-based investors Tony Ressler and Bruce Karsh.
The trio’s $2 billion offer is a record-setting price for an NBA franchise, more than the $1.6 billion offered by David Geffen and Co. and the $1.2 billion offered by the Guggenheim Group, which includes Magic Johnson and currently owns the Dodgers and Sparks.
If sold, the sale price would be close to four times the highest price any other NBA team has sold for. The Milwaukee Bucks were sold for $550 million earlier this month. The Dodgers were purchased for $2.1 billion by the Guggenehim Group, which currently stands as the highest price for a sports team in North America.
However, no deal is imminent at this point, especially without the approval of current owner Donald Sterling. And according to multiple media reports, Sterling may not be willing to hand over his team without a fight.
Sterling’s lawyer just told me, in Sterling’s driveway, “My belief is he will not sell this team.”
— Andrea Chang (@byandreachang) May 29, 2014
And regardless, there are reports from ESPN refuting that a deal is done, just that Ballmer is the leading candidate.
Sources close to the process believe former Microsoft CEO Steve Ballmer is the current leader, but negotiations ongoing. The Don looms…
— Ramona Shelburne (@ramonashelburne) May 29, 2014
Donald Sterling’s lawyer Max Blecher tells ESPN he has not signed off on any sale
— Ramona Shelburne (@ramonashelburne) May 29, 2014
Spoke to source familiar with the Clippers sale process who said negotiations, as of 5 minutes ago, are ongoing
— Ramona Shelburne (@ramonashelburne) May 29, 2014
Sterling’s wife, Shelly Sterling, is handling the sale of the team. USA TODAY Sports reported Shelly Sterling is expected to pick a buyer by Tuesday, when league others are scheduled to vote on whether to terminate the Sterlings’ ownership of the team.
The NBA owners are expected to vote to transfer ownership, according to Sports Illustrated. That does not guarantee the final approval of Ballmer or any new owner, but does take the franchise away from the Sterlings until a new owner has been approved by the league.
