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Steve Ballmer To Buy Clippers for $2 Billion

 
Steve Ballmer To Buy Clippers for $2 Billion
Posted Thursday, May 29th 2014 @ 5pm

UPDATE: 6pm

Multiple sources are now reporting that the deal is official, and former Microsoft CEO Steve Ballmer has signed and agreement to purchase the NBA franchise Los Angeles Clippers for a record $2 billion.


Former Microsoft CEO Steve Ballmer reportedly won the bidding war for the Los Angeles Clippers, offering a record-setting $2 billion for the NBA franchise, according to The Los Angeles Times.

If the sale goes through, it would be the second highest amount ever paid for a U.S. sports team, with the Dodgers being the highest for $2.1 billion.

The highest amount paid for an NBA team was $550 million for the Milwaukee Bucks. 

Sacramentans may remember Ballmer as he, along with Seattle hedge fund manager Chris Hansen, were working together to buy the Sacramento Kings and move them to Seattle. 

But the Clippers deal is far from complete, considering the circumstances surrounding the team's ownership.

CBS is reporting that Donald Sterling has not approved the sale. The embattled owner must approve of the sale before it will be finalized. Sterling purchased the Clippers in 1981 for $12.5 million. 

Sterling was banned from the NBA for life his racially charged comments that were taped by a female acquaintance and sent to media outlets. 

The reported deal comes less than a week before NBA owners were set to meet to oust Sterling with a three-fourths majority vote by the Board of Governors. 

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