Steve Ballmer Reportedly Buys Clippers For $2 Billion
Steve Ballmer via Microsoft
Former Microsoft CEO Steve Ballmer has reportedly purchased the Los Angeles Clippers for a whopping $2 billion. The Los Angeles Times, which broke the news, says it's a record price for an NBA team.
The big question now is whether he'll want to move the team to Seattle, which lost basketball's Supersonics to Oklahoma City in 2008.
The price is huge given that Donald Sterling purchased the team in 1981 for $12.5 and given that only earlier this year it was estimated to be worth a little more than $500 million:
A racial outburst caught on tape had Sterling chastising a girlfriend for posing for a photo with Magic Johnson and posting it on Instagram. He asked V. Stiviano not to bring African Americans to Clippers games in L.A.
The league banned Sterling from NBA events and started a process by which he was to be forced to sell the team.
Ballmer reportedly made a $1.8 billion offer, and possibly paid a $2 billion price. Ballmer beat out the owner of the Dodgers, Guggenheim Partners, which includes Johnson, as well as Tony Ressler and Steve Karsh, and a group of would-be owners that included David Geffen.
Experts say one of the first things Ballmer should do is change the name.
Get the Weekly Newsletter