CNN is reporting that she has been ceded control of the team and is handling the sale, and that a vote of the owners may not be necessary. In contrast to all of the howling by many of the racist, knuckle draggers on this forum, it does not soun like the Sterlings are gonna fight against the sale after all.
Shelly Sterling can not "cede control of the team" since she isn't recognized by the NBA as a controlling owner.
But a source said that over the course of this week, Sterling has rethought his position and formally agreed to allow Shelly -- an alternate governor of the team -- to negotiate a sale.
NBA rules, however, prevent him from transferring a controlling interest in the team to anyone. A new controlling owner would need to be approved by the board of governors, and Shelly Sterling would not be approved.
It is not known whether Shelly Sterling intends to sell the team in its entirety, but that is the only way the NBA would accept the terms of this agreement between Donald Sterling and his wife, sources said.
But a source said that over the course of this week, Sterling has rethought his position and formally agreed to allow Shelly -- an alternate governor of the team -- to negotiate a sale.
NBA rules, however, prevent him from transferring a controlling interest in the team to anyone. A new controlling owner would need to be approved by the board of governors, and Shelly Sterling would not be approved.
It is not known whether Shelly Sterling intends to sell the team in its entirety, but that is the only way the NBA would accept the terms of this agreement between Donald Sterling and his wife, sources said.
he's bringing brilliance and charm to the main forum
priceless
PS: she can't sell the team
Did you know? Kevin Ollie is going to be the next coach of the Lakers too
I saw it on the internet
Does seem as though he was correct, however, I thought the following piece of the ESPN article was interesting:
Shelly Sterling does intend to sell the Clippers, but it remains unclear how much of a share -- if not all -- she's willing to sell, according to a source with knowledge of the situation. Sources said the only way the NBA would accept the terms of this agreement between Donald Sterling and his wife would be if the team was sold in its entirety.
If she's unwilling to sell the entire share, there is no way the NBA let's her handle this.
You're just as bad a reader as the putz whose balls you're tonguing-why is that not a surprise? I didn't SAY I'd seen it on the internet, Jagoff, I said I saw it on CNN. As to her ability to sell the team, you'll pardon me if I take the word of the 2 lawyers CNN had on who said she could do EXACTLY that over yours, lol....
I'm starting to think they are. I'm wondering if Sterling thinks that by playing ball and giving his wife authority to take over the team and handle the sale, the NBA will reward him by letting them stay on as a minority owner or something along those lines. I could be way off but it seems weird that Sterling, a guy who thinks he's "still a good person" and a guy who used his CNN "apology" to defiantly take shots at Magic, would walk away so quietly. Who knows. I hope he rides off quietly. Be nice for this story to die, I'm sick of the old scumbag.
if or when the sale happens, it will be on favorable terms for the Sterlings
it won't be a forced sale, it won't be a fire sale, they will be bought out on negotiated terms that they're pleased with
something said multiple times in these threads, but people who think me and several others are racists just can't follow the nuances of intelligent conversation. They live in a black and white world, no pun intended
it won't be a forced sale, it won't be a fire sale, they will be bought out on negotiated terms that they're pleased with
something said multiple times in these threads, but people who think me and several others are racists just can't follow the nuances of intelligent conversation. They live in a black and white world, no pun intended
Favorable terms for Sterliings? Going out on a limb there Wrong Way. The miw bucks sold for 500 million and the clippers franchise is at its highest level right nowin a city like LA. It could go for a almost a billion and give them hundreds of millions in profit...of course it will be favorable for them....but make no mistake... this is a forced sale....how anyone can think otherwise is crazy.
