Steve Ballmer to buy Clippers for 2 Billion dollars
Old 05-29-2014, 09:00 PM   #1 (permalink)
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Former Microsoft CEO Steve Ballmer to buy the Clippers Former Microsoft CEO Steve Ballmer to buy Clippers for $2 billion-Los Angeles Times $2-billion offer sets a record price for an NBA team
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ormer Microsoft chief executive Steve Ballmer won a frenetic bidding war for ownership of the Los Angeles Clippers, with his $2-billion offer setting a record price for an NBA team, The Times has learned..

Ballmer, who was chief executive of Microsoft for 14 years, was chosen over competitors that included Los Angeles-based investors Tony Ressler and Bruce Karsh and a group that included David Geffen and executives from the Guggenheim Group, the Chicago-based owner of the Los Angeles Dodgers, according to three individuals familiar with the negotiations.

One of the individuals with knowledge of the negotiations said the Geffen group bid $1.6 billion and Ressler at $1.2 billion.

The sale price is almost four times the highest previous NBA franchise sale price -- the $550 million paid earlier this month for the Milwaukee Bucks. It is second only to the Dodgers' 2012 sale for $2.1 billion as the highest price for any sports team in North America.

At least 3 groups make offers in initial round of bidding on ClippersClippersAt least 3 groups make offers in initial round of bidding on ClippersSee all relatedí

The prospective sale by Clippers co-owner Shelly Sterling comes five days ahead of an NBA hearing to oust her family from ownership following a controversy in which Donald Sterling insulted African-Americans in a secret audio recording.

The tentative deal still must receive the blessing of her husband, Donald Sterling, who has waxed and waned on the question of whether he would allow his wife to sell the team he has controlled for more than three decades.

The deal also needs the eventual approval of 29 other NBA owners, but is expected to clear that hurdle as long as Ballmer reaffirms his pledge to keep the team in Los Angeles and not move it to Seattle, where he lives.




Former Microsoft CEO Steve Ballmer to buy Clippers for $2 billion-Los Angeles Times
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Old 05-29-2014, 09:37 PM   #2 (permalink)
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That's crazy. If that's true, the value of all NBA franchises just went up What's the real value of the Lakers, Knicks, Celtics and Bulls now?
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Old 05-29-2014, 09:37 PM   #3 (permalink)
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I hope the Clippers go back to being a crappy team and this guy loses 1.5 billion (he has a net worth of 20 billion)
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Old 05-29-2014, 09:45 PM   #4 (permalink)
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Originally Posted by Beans View Post
I hope the Clippers go back to being a crappy team and this guy loses 1.5 billion (he has a net worth of 20 billion)
why? you aren't ready for the Microsoft x NBA?
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Old 05-29-2014, 10:02 PM   #5 (permalink)
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The price tag does make sense, they do have a great team with two superstars
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Old 05-29-2014, 10:23 PM   #6 (permalink)
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It makes sense if the Bucks go for 550 mill.
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Old 05-29-2014, 11:13 PM   #7 (permalink)
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The price tag does make sense, they do have a great team with two superstars
Makes no sense! Six months ago the team was estimated to be worth 600mil.

I could see 1 billion, but 2? It's all because of the publicity and the attention.
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Old 05-29-2014, 11:16 PM   #8 (permalink)
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wow that is a crazy price
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Old 05-29-2014, 11:29 PM   #9 (permalink)
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I'll believe it when I see it. There have got to be a whole lot of other assets included. Maybe it takes into account the fact that this guy could probably not have anyone in the nation who he can remain a boss over.
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Old 05-30-2014, 12:00 AM   #10 (permalink)
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There are competing bids. Previous estimates go out the window. Or windows i suppose.
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Old 05-30-2014, 12:26 AM   #11 (permalink)
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Steve Ballmer has won a bidding war to purchase the Los Angeles Clippers for $2 billion.

ESPN's Ramona Shelburne reports that Ballmer and the Sterling family trust signed a binding agreement on the sale and that it will go straight to the NBA for final approval. Shelburne also reported that Donald Sterling has been declared mentally incapacitated, which has left Shelly Sterling with the power to sell the team.

Ballmer, who was chief executive of Microsoft for 14 years, was chosen over competitors that included Los Angeles-based investors Tony Ressler and Bruce Karsh and a group that included David Geffen and executives from the Guggenheim Group, the Chicago-based owner of the Los Angeles Dodgers, according to three individuals familiar with the negotiations.

One of the individuals with knowledge of the negotiations said the Geffen group bid $1.6 billion and Ressler at $1.2 billion.

The tentative deal must also receive the blessing of Donald Sterling, followed by an approve from the 29 other owners.
http://basketball.realgm.com/wiretap/233616/Steve-Ballmer-Agrees-To-Purchase-Clippers-For-$2-Billion
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Old 05-30-2014, 12:48 AM   #12 (permalink)
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Makes no sense! Six months ago the team was estimated to be worth 600mil.

I could see 1 billion, but 2? It's all because of the publicity and the attention.

What I meant was that I expected this kind of outcome. There will allways be hefty competition to buy a championship contending team. There will always be someone willing to spend out of their minds
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Old 05-30-2014, 12:55 AM   #13 (permalink)
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http://basketball.realgm.com/wiretap/233616/Steve-Ballmer-Agrees-To-Purchase-Clippers-For-$2-Billion
Now that's crazy. Can't just deny the dude's right over his property/capital gains given some alleged mental status. I just feel the nba is trying to cut corners to resolve this messed up situation and it will bite them in the ass eventually
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Old 05-30-2014, 02:56 AM   #14 (permalink)
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Free Xbox ones for all

Also how did he make 20 billion, damm that's crazy
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Old 05-30-2014, 03:16 AM   #15 (permalink)
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Makes you almost wonder if Donald Sterling staged this whole fiasco to get a better sale price, lol
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Old 05-30-2014, 08:35 AM   #16 (permalink)
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Word just came down....there's a tape of the new prospective owner saying he does not want any PS One gamers at his arena.

Last edited by Ammo; 05-30-2014 at 08:37 AM.
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Old 05-30-2014, 11:44 AM   #17 (permalink)
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2 Billion ?...petty cash for Ballmer
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Old 05-30-2014, 11:55 AM   #18 (permalink)
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This is probably the 3rd worst business decision ever made. The first was windows ME. The second was Microsoft not buying apple when it had the chance.

What an ass-hat. There is no way this franchise/building provides any kind of return on investment that is reasonable for 2 billion dollars.
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Old 05-30-2014, 12:14 PM   #19 (permalink)
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Originally Posted by JoeyJoJo Shabbadu View Post
This is probably the 3rd worst business decision ever made. The first was windows ME. The second was Microsoft not buying apple when it had the chance.

What an ass-hat. There is no way this franchise/building provides any kind of return on investment that is reasonable for 2 billion dollars.
Like he cares! Honestly, he probably lives in LA and wants to buy an NBA team.


It's a toy for him. He still has 18 billion in the bank.
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Old 05-30-2014, 12:33 PM   #20 (permalink)
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Originally Posted by JoeyJoJo Shabbadu View Post
This is probably the 3rd worst business decision ever made. The first was windows ME. The second was Microsoft not buying apple when it had the chance.

What an ass-hat. There is no way this franchise/building provides any kind of return on investment that is reasonable for 2 billion dollars.
you really think this purchase was based on a "business" decision ?...this man is worth 20 Billion bones..i repeat...20 Billion

last thing he's thinking of is a return on his investment
it's a toy..plain and simple
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