May 15, 2014; Los Angeles, CA, USA; A Los Angeles Clippers fan holds up sign during the fourth quarter in game six of the second round of the 2014 NBA Playoffs against the Oklahoma City Thunder at Staples Center. Mandatory Credit: Richard Mackson-USA TODAY Sports

Report: Steve Ballmer To Buy Los Angeles Clippers For $2 Billion


Former Microsoft CEO Steve Ballmer has won the right to buy the Los Angeles Clippers. It took a $2-billion offer to win the bidding war amongst suitors, which will set a record price for an NBA Team — per the Los Angeles Times.

Balmer, who was chief executive of Microsoft for 14 years, was chosen over competitors that included Los Angeles-based investors Tony Ressler and Steve Karsh and a group that included David Geffen and executives from the Guggenheim Group, the Chicago-based owner of the Los Angeles Dodgers.

A person 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.

Despite that, any tentative deal between Ballmer and the Clippers still must be approved by Donald Sterling before anything becomes official. The deal would also need the approval of 29 other owners, which isn’t expected to be much of a hurdle.  

 

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