Steve Ballmer buys L.A. Clippers for $2-billion

[pscot]

No plans to move the team

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..

Ballmer, who was chief executive of Microsoft for 14 years, was chosen over competitors that included Los Angeles-based investors Tony Ressler and Bruce Karsh and a group that included David Geffen and executives from the Guggenheim Group, the Chicago-based owner of the Los Angeles Dodgers, according to three individuals familiar with the negotiations.

One of the individuals with knowledge of the negotiations said the Geffen group bid $1.6 billion and Ressler at $1.2 billion.

http://www.latimes.com/sports/la-sp-sn-clippers-sale-ballmer-20140529-story.html

[Gidney N Cloyd]

1. And now Sterling gets to avoid paying taxes on the windfall because he was forced to sell.

(Heard a tax guy explain that on Stephanie Miller's show this morning.)

[pscot]

2. I can't understand why that should be

[Agony]

3. ...using money stripped from the pockets of Windows users.

noisome asshole...

[Ichingcarpenter]

10. the visionary and billionare for stupidity and greed

There's no chance that the iPhone is going to get any significant market share.

steve balmer


Well, gladiator games
do pay well to the owners

[jmowreader]

4. No moving plans for right now

I know the residents of Seattle really want an NBA team, and now someone with Seattle ties owns one...my bet is, as soon as the Taxpayers of Seattle shit a better facility than Key Arena, the LA Clippers will be either the Seattle Clippers or the Seattle Supersonics.

[pscot]

6. As a long time Seattlite and former Sonic fan..

Fuck the NBA!

[lumberjack_jeff]

15. I don't think they'll settle for just shaking down Seattlites. n/t

[Tarheel_Dem]

5. He made sure Magic didn't get his hands on his team. Asshole. n/t

[pscot]

8. You need to be a lot more specific

when you use the term "asshole" in connection with this deal.

[pa28]

7. Seems like an insane premium.

The wealthy's cup runneth over and they are paying huge sums for art, collector cars and trophy real estate because they have nowhere else to put it.

Just for perspective Forbes values the Yankees and Cowboys at around 1.75 billion and the Red Sox at 1 Billion.

As the country's roads and schools crumble around them these same people cry about being overtaxed while they can't spend, bid or hide their billions fast enough.

[AgingAmerican]

9. He wants to move them to Seattle

And Cristen them the new Sonics. Woobitty Hoobitty~!!

[pscot]

11. He said the deal makes no economic sense

outside of L.A.

[AgingAmerican]

12. I don't think it has to make 'economic sense'

He has been trying to get a team for Seattle for several years now. It would not surprise me one bit if he moved them. They are his toy now that he is retired from MS and has $15 or $20 billion to play with.

[GeorgeGist]

13. Obscene.

[lumberjack_jeff]

14. Boy, howdy. It's a good thing that "the job creators" have low taxes.

Were it not for a $2 billion bank account, what's his name's ex-wife would have had to settle for only $1 billion or so.