Apr 29, 2014 - According to the latest valuation by Forbes, the Clippers franchise is now worth $575 million, a 34 percent increase over the 2013 valuation:.
OK, I guess I can see that .... so then ...... WHY would someone pay TWO BILLION for a basketball team????????? Gotta be a TAX thing. And, even more amazing, SOMEONE has enough money to purchase them ..... "How much." .... "Two Billion" .... "Oh, OK."
Herb Kohl, who bought the team for $18 million in 1989,
And, they are the worst team in the league.
LOS ANGELES (AP) — Former Microsoft CEO Steve Ballmer has agreed to buy the Los Angeles Clippers for a record-breaking $2 billion. Now it's up to others whether the deal goes through.
Shelly Sterling said in a statement issued late Thursday that she'd signed a binding contract for a sale of the Clippers by The Sterling Family Trust to Ballmer in what would be a record deal if approved by the NBA.
Ballmer "will be a terrific owner," Sterling said, "We have worked for 33 years to build the Clippers into a premier NBA franchise. I am confident that Steve will take the team to new levels of success."
Sterling negotiated the sale after her husband, Donald Sterling, made racist remarks that were made public. The remarks included Sterling telling girlfriend V. Stiviano not to bring blacks to Clippers games, specifically mentioning Hall of Famer Magic Johnson.
Shelly Sterling's statement noted that she made the deal "under her authority as the sole trustee of The Sterling Family Trust, which owns the Clippers." Donald Sterling's attorneys contend that he is a co-owner and therefore must give his assent for the deal to go through. They also say he won't be giving it.
