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Sterling is out and Ballmer is in!

By Catholic Online (NEWS CONSORTIUM)
8/13/2014 (2 years ago)
Catholic Online (www.catholic.org)

Court approves $2 billion Clippers sale

Steve Ballmer, the former CEO of Microsoft became the new owner of the NBA's Los Angeles Clippers after his purchase of the team was confirmed on August 12.

Steve Ballmer, former Microsoft CEO and now owner of the Los Angeles Clippers franchise.

Steve Ballmer, former Microsoft CEO and now owner of the Los Angeles Clippers franchise.

Highlights

By Catholic Online (NEWS CONSORTIUM)
Catholic Online (www.catholic.org)
8/13/2014 (2 years ago)

Published in Sports

Keywords: Sports, Clippers, NBA


LOS ANGELES, CA (Catholic Online) - This sale marks the end of the co-ownership of the team by billionaire Donald Sterling and his estranged wife, Shelly. Donald bought the Clippers in 1981 for about $12 million, and was the longest-tenured owner in the NBA.

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The negotiated $2 billion sale price is now the record for the sale of any sports franchise in North America.

Donald Sterling was the former owner of the Los Angeles Clipper franchise and lost control after a l

Donald Sterling was the former owner of the Los Angeles Clipper franchise and lost control after a lengthy legal battle.


Ballmer, players and coach Doc Rivers will meet fans Monday at the Staples Center in Los Angeles during the Clippers Fan Festival.

"I am humbled and honored to be the new owner of the Los Angeles Clippers," Ballmer said in a statement. "Clipper fans are so amazing. They have remained fiercely loyal to our franchise through some extraordinary times. I will be hard core in giving the team, our great coach, staff and players the support they need to do their best work on the court."

In April of 2014, Sterling came under fire for racist remarks he made against African-Americans, which were secretly recorded and released to the public online.

In a rapid response, the NBA banned Sterling for life, fined him the maximum $2.5 million, and moved toward terminating Sterling's ownership of the Clippers.

Under the sale, Ballmer agreed to give Shelly Sterling the title of "owner emeritus" of the team, so that she could retain a connection to the franchise.

"I am thrilled that the Clippers now have such a wonderful new owner," said Shelly Sterling. "I am confident that Steve will bring the city a championship team in the very near future.

"I Cannot wait for the new season to begin."

The Clippers sale closed after "the entry of an order by a California court confirming the authority of Shelly Sterling, on behalf of the Sterling Family Trust, to sell the tea," the NBA reported in a statement made the same day.

"The NBA Board of Governors previously approved the sale and Ballmer is now the Clippers Governor."

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