<header class="trb_article_articleHeader" data-sharelines="" style="margin: 0px; padding: 0px; position: relative; clear: both; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10px;">Former Microsoft CEO Steve Ballmer to buy Clippers for $2 billion
<aside class="trb_embed " data-content-id="80349473" data-content-size="leadart" data-content-type="image" data-content-subtype="photo" data-role="socialshare_item imgsize_ratiosizecontainer " data-state=" " style="margin: 0px; padding: 0px; position: relative; width: 448px; overflow: hidden; -webkit-transform: none;"><figure data-role="imgsize_item" class="trb_embed_imageContainer_figure" imgheight="300" imgwidth="450" imgratio="16x9" style="margin: 0px; padding: 0px 0px 252px; position: relative; width: 448px; height: 0px; background-color: rgb(0, 0, 0); overflow: hidden; float: none; clear: left;">
</figure>Former Microsoft CEO Steve Ballmer will be the controlling partner for the Clippers' new ownership group. (Michael Kappeler / EPA)
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JAMES RAINEYcontact the reporter
National Basketball AssociationBasketballProfessional BasketballLos Angeles ClippersDonald SterlingSteve Ballmer
Sterlings to sell Clippers to former Microsoft chief Steve Ballmer for $2 billion
<time class="trb_article_dateline_time" datetime="2014-05-29T15:55:00PDT" data-datetime-timezone="PDT" data-datetime-month="May" data-datetime-monthshort="May" data-datetime-day="29" data-datetime-year="2014" data-datetime-weekday="Thursday" data-datetime-weekdayshort="Thu." data-datetime-fullclock="3:55:00 PM" data-datetime-clock="3:55 PM" data-datetime-hour="3 PM" data-datetime-today="" data-datetime-daydiff="-1 days left"></time>
</header><section class="trb_mainContent" data-role="panelmod_articleBody" style="margin: 0px; padding: 0px; clear: left; width: 788px; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10px;">Former 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.
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.
<aside class="trb_embed " data-content-id="80339265" data-content-size="small" data-content-type="story" data-content-subtype="story" data-role="socialshare_item imgsize_ratiosizecontainer " style="margin: 5px 40px 40px 0px; padding: 0px; position: relative; width: 200px; overflow: hidden; -webkit-transform: none; float: left; z-index: 50;"><figure data-role="imgsize_item" class="trb_embed_imageContainer_figure" imgheight="150" imgwidth="200" imgratio="16x9" style="margin: 10px 0px; padding: 0px 0px 112.5px; position: relative; width: 200px; height: 0px; background-color: rgb(0, 0, 0); overflow: hidden; float: none;">
</figure><figure data-role="imgsize_item" class="trb_embed_imageContainer_figure" imgheight="150" imgwidth="200" imgratio="16x9" style="margin: 10px 0px; padding: 0px 0px 112.5px; position: relative; width: 200px; height: 0px; background-color: rgb(0, 0, 0); overflow: hidden; float: none;"></figure><figure data-role="imgsize_item" class="trb_embed_imageContainer_figure" imgheight="150" imgwidth="200" imgratio="16x9" style="margin: 10px 0px; padding: 0px 0px 112.5px; position: relative; width: 200px; height: 0px; background-color: rgb(0, 0, 0); overflow: hidden; float: none;"></figure>Related story: Outcry over Sterling's remarks renew focus on housing bias lawsuitsKim Christensen, Nathan Fenno
</aside>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.
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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 home in Seattle.
<aside class="trb_embed " data-content-id="80251307" data-content-size="small" data-content-type="story" data-content-subtype="story" data-role="socialshare_item imgsize_ratiosizecontainer" data-load-type="comment" data-load-method="innerHtml" style="margin: 5px 40px 40px 0px; padding: 0px; position: relative; width: 200px; overflow: hidden; -webkit-transform: none; float: left; z-index: 50;"><figure data-role="imgsize_item" class="trb_embed_imageContainer_figure" imgheight="150" imgwidth="200" imgratio="16x9" style="margin: 10px 0px; padding: 0px 0px 112.5px; position: relative; width: 200px; height: 0px; background-color: rgb(0, 0, 0); overflow: hidden; float: none;">
</figure><figure data-role="imgsize_item" class="trb_embed_imageContainer_figure" imgheight="150" imgwidth="200" imgratio="16x9" style="margin: 10px 0px; padding: 0px 0px 112.5px; position: relative; width: 200px; height: 0px; background-color: rgb(0, 0, 0); overflow: hidden; float: none;"></figure><figure data-role="imgsize_item" class="trb_embed_imageContainer_figure" imgheight="150" imgwidth="200" imgratio="16x9" style="margin: 10px 0px; padding: 0px 0px 112.5px; position: relative; width: 200px; height: 0px; background-color: rgb(0, 0, 0); overflow: hidden; float: none;"></figure>Related story: NBA moves to oust Sterling, accuses Clippers of destroying evidenceJames Rainey
</aside>Ballmer, 58, left the software giant in February and has an estimated net worth of $20 billion. Unlike other bidders, he did not immediately seek out partners for the purchase of the Clippers.
Ballmer last year joined a group, led by hedge fund manager Chris Hansen, to bid on the Sacramento Kings, intending to move the team to Seattle. NBA owners voted to reject the proposed move.
The businessman said in a recent interview that he had no intention of moving the Clippers. He said that the high valuations for the team only made sense in Los Angeles—the second biggest media market in the country.
Copyright © 2014, Los Angeles Times
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<aside class="trb_embed " data-content-id="80349473" data-content-size="leadart" data-content-type="image" data-content-subtype="photo" data-role="socialshare_item imgsize_ratiosizecontainer " data-state=" " style="margin: 0px; padding: 0px; position: relative; width: 448px; overflow: hidden; -webkit-transform: none;"><figure data-role="imgsize_item" class="trb_embed_imageContainer_figure" imgheight="300" imgwidth="450" imgratio="16x9" style="margin: 0px; padding: 0px 0px 252px; position: relative; width: 448px; height: 0px; background-color: rgb(0, 0, 0); overflow: hidden; float: none; clear: left;">
</aside>
JAMES RAINEYcontact the reporter
National Basketball AssociationBasketballProfessional BasketballLos Angeles ClippersDonald SterlingSteve Ballmer
Sterlings to sell Clippers to former Microsoft chief Steve Ballmer for $2 billion
<time class="trb_article_dateline_time" datetime="2014-05-29T15:55:00PDT" data-datetime-timezone="PDT" data-datetime-month="May" data-datetime-monthshort="May" data-datetime-day="29" data-datetime-year="2014" data-datetime-weekday="Thursday" data-datetime-weekdayshort="Thu." data-datetime-fullclock="3:55:00 PM" data-datetime-clock="3:55 PM" data-datetime-hour="3 PM" data-datetime-today="" data-datetime-daydiff="-1 days left"></time>
</header><section class="trb_mainContent" data-role="panelmod_articleBody" style="margin: 0px; padding: 0px; clear: left; width: 788px; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10px;">Former 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.
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.
<aside class="trb_embed " data-content-id="80339265" data-content-size="small" data-content-type="story" data-content-subtype="story" data-role="socialshare_item imgsize_ratiosizecontainer " style="margin: 5px 40px 40px 0px; padding: 0px; position: relative; width: 200px; overflow: hidden; -webkit-transform: none; float: left; z-index: 50;"><figure data-role="imgsize_item" class="trb_embed_imageContainer_figure" imgheight="150" imgwidth="200" imgratio="16x9" style="margin: 10px 0px; padding: 0px 0px 112.5px; position: relative; width: 200px; height: 0px; background-color: rgb(0, 0, 0); overflow: hidden; float: none;">
</aside>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.
<aside class="trb_panelmod_container" data-role="panelmod_container imgsize_ratiosizecontainer" data-load-type="noop" data-panelmod-type="relatedContent" style="margin: 20px 0px 20px 20px; padding: 0px 0px 0px 20px; float: right; border-left-width: 1px; border-left-style: solid; border-left-color: rgb(204, 204, 204); clear: right; position: relative; left: 20px; z-index: 25; width: 150px;">
</aside>
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 home in Seattle.
<aside class="trb_embed " data-content-id="80251307" data-content-size="small" data-content-type="story" data-content-subtype="story" data-role="socialshare_item imgsize_ratiosizecontainer" data-load-type="comment" data-load-method="innerHtml" style="margin: 5px 40px 40px 0px; padding: 0px; position: relative; width: 200px; overflow: hidden; -webkit-transform: none; float: left; z-index: 50;"><figure data-role="imgsize_item" class="trb_embed_imageContainer_figure" imgheight="150" imgwidth="200" imgratio="16x9" style="margin: 10px 0px; padding: 0px 0px 112.5px; position: relative; width: 200px; height: 0px; background-color: rgb(0, 0, 0); overflow: hidden; float: none;">
</aside>Ballmer, 58, left the software giant in February and has an estimated net worth of $20 billion. Unlike other bidders, he did not immediately seek out partners for the purchase of the Clippers.
Ballmer last year joined a group, led by hedge fund manager Chris Hansen, to bid on the Sacramento Kings, intending to move the team to Seattle. NBA owners voted to reject the proposed move.
The businessman said in a recent interview that he had no intention of moving the Clippers. He said that the high valuations for the team only made sense in Los Angeles—the second biggest media market in the country.
Copyright © 2014, Los Angeles Times
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