Former Microsoft CEO Steve Ballmer to Buy Los Angeles Clippers for $2 Billion


NOEL VASQUEZ/GC IMAGES
Steve Ballmer attends an NBA playoff game between the Golden State Warriors and the Los Angeles Clippers at Staples Center on April 29.

The Dodgers were sold in May of 2012 for $2.1 billion, while the NFL’s Jacksonville Jaguars fetched $770 million. The Milwaukee Bucks were the last NBA team to be sold, taking in a paltry $550 million last month in comparison.

That’s $2 billion with an uppercase B!

Former Microsoft CEO Steve Ballmer has apparently won the bidding war Thursday for the Los Angeles Clippers with a staggering $2 billion offer for the NBA franchise, according to the L.A. Times.

The frenzied battle to get the team from Sterling drove the franchise’s price sky high for a team that Forbes estimated was worth at $575 million back in January.

The franchise has been in turmoil since owner Donald Sterling was recorded on tape by an associate making racist comments about Magic Johnson, among others.

In short order, NBA commissioner Adam Silver slammed Sterling with an unprecedented lifetime ban for his remarks, imposed a $2.5 million fine, and began the process to force a sale of the Clippers.

Sterling’s wife, Shelly, who owns 50 percent of the team had been reviewing five bids for the franchise.

The Daily News reported on Friday that Sterling had decided to part with the team he bought for $12.5 million in 1981.

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Source: New York Daily News

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