NBA

Former Microsoft CEO set to buy Los Angeles Clippers for $2 billion

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Former Microsoft Chief Executive Steve Ballmer looks set to purchase the Los Angeles Clippers organisation for $2 billion after winning the frenzied bidding war for ownership according to the Los Angeles Times.

Many other competitors clawed for the opportunity to purchase the franchise including Tony Ressler, Steve Jarsh and David Geffen but were beaten out by Balmer who was the Chief Executive for Microsoft for 14 years.

NBA owners must be salivating at the price tag negotiated for the Clippers, the $2 billion expected to be offered to prize away the organisation from Donald Sterling is four times the highest of any other NBA franchise sale price.

The Milwaukee Bucks were recently sold for $550 million earlier this month and the only other sports team in North America to amass more of a sum for their purchase is the Los Angeles Dodgers who were sold for $2.1 billion in 2012.

The sale by co-owner Shelly Sterling comes only five days after the NBA announced that they would oust Donald Sterling from his position as owner of the Clippers due to a racial scandal which had been much publicised throughout the NBA.

For the sale to be approved, the 29 other NBA owners would have to agree to the transaction and clear Ballmer for rightful ownership of the Clippers.

Topics:
LA Clippers
NBA

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